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13 Years Ago: 5000 BTC Sold for Only $5

source-logo  cryptopotato.com 12 October 2022 18:35, UTC

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. 

✨ 13 years ago today, the first #Bitcoin to USD trade

Buying 5,000 BTC for $5.00 🚀 pic.twitter.com/cKiZihslCB

— RIZZO (@pete_rizzo_) October 12, 2022

  • 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.