2023-10-13 16:03:44
“I’d be a *billionaire* now if I hadn’t sold the 55,000 bitcoins I mined on my laptop in 2009-2010 too soon. It’s unfortunate, but then with the early bitcoiners, we started something much bigger than personal profit.” A trade now worth $130 million, which was worth pennies at the time The key event in the creation of the Bitcoin economy happened 14 years ago today. Martti “Sirius” Malmi, a developer working with Bitcoin’s pseudonymous creator Satoshi Nakamoto, traded Bitcoin for US dollars for the first time on this day. In this trade, Malmi sold 5,050 Bitcoins for just $5.02, valuing each Bitcoin at a fraction of a cent. “I found my first BTC-USD transaction in my email. On October 12, 2009, I sold 5,050 BTC for $5.02,” Malmi shared his “good news” on X. Found the first known bitcoin to USD transaction from my email backups. I sold 5,050 BTC for $5.02 on 2009-10-12. — Martti Malmi (@marttimalmi) January 15, 2014 There is also a link to the transaction in his post, which clearly shows that the man would indeed be 135 million richer today if he had sold his tokens today instead of in 2009. Also, if he does this 2 years ago, at the peak price of BTC ($67,566), he would have won nearly 344 million US dollars. This remarkable event not only highlights BTC’s dramatic increase in value, but also serves as a testament to Bitcoin’s innovation and resilience. Bitcoin’s ability to disrupt traditional financial systems and establish itself as a store of value has reshaped finance. With its inherent potential, it continues to attract the attention of investors, institutions and individuals seeking financial freedom and security. As the Bitcoin community celebrates the 14th anniversary of the first US dollar trade, it’s a good time to reflect on the profound impact this digital currency has had on the world of money. The legacy of Satoshi Nakamoto, Martti Malmi, Adam Back and countless others who contributed to the growth of Bitcoin remains a testament to the financial revolution’s continued progress.
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