- Bitcoin’s first trade on Mt.Gox valued a single Bitcoin at $0.04951.
- The trade took place just a decade prior on July 17, 2010.
There is no doubt that Bitcoin and cryptocurrency have come a long way since its inception over a decade ago. Despite seeing a massive correction from 2017’s Bitcoin bull run to $20,000, Bitcoin is still worth substantially more than it was ten years ago.
In a new blog post, Clark Moody outlined the first Bitcoin trade on Mt.Gox on July 17, 2010. The trade consisted of 20 Bitcoin for a total order value of just $0.9902, valuing one Bitcoin at $0.04951. Moreover, Moody notes that back then the entire Bitcoin supply was just 3,438,650 Bitcoin, a fraction of today’s circulating supply.
That being said, Bitcoin was technically worth something even before the exchange came along. Bitcoin was sometimes traded for physical goods, one of the most notable transactions being the 10,000 Bitcoin pizza transaction. On May 22, 2010, a man by the name of Laszlo Hanyecz paid 10,000 Bitcoin for two Papa John’s pizzas.
Bitcoin Today
Since 2010, Bitcoin has come a long way in terms of adoption and price. With Bitcoin currently trading at $9,100, the 20 Bitcoin trade would’ve been worth north of $180,000 today, and over $300,000 at Bitcoin’s peak in 2017. Despite its volatility, Bitcoin as an asset has been performing strongly, even outperforming gold this year.
Moreover, massive Bitcoin transfers worth millions are now a common occurrence. While the cryptocurrency is nowhere near its peak of $20,000, Bitcoin and the cryptosphere as a whole, continues to move forward.