13 Years Ago: 5000 BTC Sold for Only $5

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Today marks the 13th anniversary of the very first Bitcoin trade ever conducted in exchange for U.S. dollars.

On October 12th, 2009. Exactly 5050 BTC was traded for just $5.02.

The transaction was conducted by Finnish developer Martti Malmi, who helped Satoshi Nakamoto work on Bitcoin in its early days. Before the trade, Bitcoin didn’t have any market price. 

As one of the oldest transactions, the transfer has been confirmed by Bitcoin’s blockchain over 733,000 times making it virtually impossible to reverse. 
At today’s prices, the transaction is worth $96,376,371.50. If using Bitcoin’s price during its all-time high in November ($69,000), the transaction would have been worth $348,450,000.
The first ever bitcoin transaction took place between Satoshi Nakamoto and Hal Finney for just 10 Bitcoin. 
Bitcoin’s first use as a means of payment was in May of 2010 when a Florida man negotiated to give up 10,000 Bitcoin in exchange for two pizzas worth just $25. 

The post 13 Years Ago: 5000 BTC Sold for Only $5 appeared first on CryptoPotato.





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