The One Million Dollar Pizza
The following chart traces the Bitcoin price in USD since the system was first placed into operation in 2009.
For approximately four years, each Bitcoin was worth close to $0.00 USD. The very first exchange of Bitcoins for goods occurred in 2010. It was 10,000 BTC for two pizzas worth approximately $25 USD. At $200+ USD/BTC today, those pizzas would cost $1M each!
Imagine all those early experimenters who purchased or mined Bitcoins during the 2009-2013 time span – and then deleted their wallets from their PCs because they concluded that Bitcoin was a passing fad. I’m glad I’m not one of them. On the other side of the “coin“, I’m also glad that I didn’t jump into the market during the peak of the bubble in late 2013 at $1100 USD/BTC.
After entering the market this year at $230 USD/BTC, I wonder how I’ll feel about that decision in 5 years…..