Find Out the Lowest Bitcoin Value in the History
The lowest bitcoin value in the history is less than $0.01. Read and find out more on how it rises to its current value, which ranges from $450 to $600.
Bitcoin has its ups and downs since it was launched. It started from a simple innovation with no value until it has become one of the most valued ‘currencies’ in the world. Moreover, this digital currency’s market volatility has been an attractive avenue for traders to generate some profits given that its price fluctuates extremely. In fact, it happened twice that bitcoin crossed the threshold and then crashing again to a lower value. But did you know that before bitcoin broke the $1,000 threshold, this virtual coin’s price reached less than $0.01, the lowest bitcoin value in the history?
When bitcoin was introduced last January 2009, bitcoin has no worth. There are no exchanges or trading markets such as Mt. Gox, Coinbase, Bitstamp, and others where you can buy BTCs for a certain amount. Its users are just cryptography enthusiasts who were making bitcoin transactions for low or no value. This remains the scenario for almost a year until a programmer Laszlo Hanyecz made the first real-world bitcoin transaction.
It was in the first months of 2010, when bitcoin price starts rising. In February 2010, bitcoin’s value is less than $0.01. Laszlo paid 10,000 BTCs for two pizzas from Papa John’s and during those times, each bitcoin worth $0.003. After this remarkable event, bitcoin’s price begins surging up north until it takes parity with US dollar a year after.
While the lowest bitcoin value in the history is less than $0.01, the recorded lowest value of BTC after reaching its first highest price is $2. However, it only lasted for a few months and went back again to its way to the top. Currently, bitcoin’s worth ranges from $450 up to $600. If Laszlo kept the 10,000 bitcoins he mined, he could have been a millionaire by now.
It is undeniable that the demand for bitcoins is rising; however, as long as the regulation of this digital currency remains unclear in the majority of the jurisdictions, it’s certain that bitcoin’s value will continue to experience extreme movements.