The Starting Price of Bitcoin: A Historical Overview

Bitcoin, the pioneering cryptocurrency, began trading at a very modest price. Its initial value was essentially zero since it wasn't traded on any exchanges. The first known transaction involving Bitcoin occurred on May 22, 2010, when a programmer named Laszlo Hanyecz famously paid 10,000 BTC for two pizzas, which at that time was valued at approximately $25. This transaction is often cited as the first real-world use of Bitcoin and gives a rough estimate of its starting value. For several years after its inception in 2009, Bitcoin's price remained virtually negligible, as it was a niche technology known only to a small group of enthusiasts. It wasn't until 2011 that Bitcoin began trading on exchanges and reached its first significant milestone, with the price reaching $1. The cryptocurrency's price saw gradual increases, reflecting growing interest and investment in this digital asset. As Bitcoin gained more attention, its price began to rise substantially, eventually reaching new highs and becoming a major financial phenomenon.