Bitcoin is a very unique and elusive currency with which its value fluctuates wildly between years. Did you know that the first time Bitcoin came out, one Bitcoin is not worth any real money? But of course, that changes over time, and thus, bringing us onto today’s topic. How much is 1 Bitcoin worth? And what can you buy with it?
To answer this question, we’ll need to look back on the history of Bitcoin. Don’t worry, we’ll skip the boring part and dives straight into how much Bitcoin is worth and what can you buy with 1 bitcoin.
Bitcoin in 2009 – 2010
The year 2009 through 2010 marks one of the most significant development for Bitcoin. The first time it was released, Bitcoin quite honestly has no intrinsic value. It’d be equal to 0USD for 1 Bitcoin alone. But in 22 May, 2010, Bitcoin finally have a value. One of the first transaction ever recorded was someone buying two pizzas for 10.000 Bitcoin. That’s right, 10.000. It’s wild to think that 10.000 would only equals to somewhere like $3.
Bitcoin in 2017
Fast forwarding to 2017, Bitcoin receives an all-time high into its value and worth as a currency. It went from $3 for 10.000 Bitcoin onto a staggering amount of $20.000 per ONE Bitcoin in December 2017. Remember, that’s only ONE Bitcoin.
During that time period, Bitcoin truly reached a massive amount in value and worth. You can buy cars, houses, and pay your college tuition all the way through the end and you’d probably still end up with some cash to spare. It’s honestly an absurd amount of money for a currency to have.
Bitcoin in 2020
Fast-forwarding to 2020 where we are right now. Bitcoin experiences a massive drop in value again just like any other currency right now. This is mainly due to the pandemic that we’re currently living in right now.
Contrary to its worth in 2017 as we’ve mentioned above, according to CoinMarketCap.com, Bitcoin almost reaches $4.300 in value just in a couple of hours from $7.900. Despite that, the believe in Bitcoin does not falter, soon after Bitcoin reaches an all time high in 2020 at a value of $14,028.
This means that if you’ve bought 1 Bitcoin mid-March 2020, you’ll be able to buy almost the same number of things you’d be able to bought during its highest peak in 2017.
What about next year?
Looking back to its journey throughout these past years, it’s honestly hard to tell. Bitcoin fluctuates a lot; thus, the possibility of massive increase or decrease is just a coin flip. It’s 50/50.
But analyst predicts that with the increase of company using Bitcoin as a currency, its increase in popularity, and how popular digital currency is in general this year, Bitcoin’s value will most likely increase, some even claims that it has the highest chance to reach $1 billion per 1 Bitcoin in the upcoming years.
Are you interested in buying bitcoin now after reading what can you buy with 1 Bitcoin throughout the years? Well you should be, it’s a very lucrative market, and is overall a good way to invest your money in this digital age.