How much was Bitcoin worth in 2011? Absurd, here is the value! • Social Periodical

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Bitcoin it was the first electronic currency ever, which practically inaugurated the term itself, today decidedly inflated and known: for cryptocurrency in fact we mean an electronic currency that is based on the decryption of data, based on the system peer to peer (p2p) on specific networks whose computers (defined knots) consist of users’ computers.

This economic system is disconnected from governments or central banks and for this reason cryptocurrency in general is still viewed with a bit of skepticism, but on the other hand there is great confidence in these new currencies, which are “accepted” more and more in the collective imagination to the point that several countries have decided to adopt it as their official currency, such as Paraguay.

Bitcoin, between skepticism and variations

Bitcoin therefore ushered in cryptocurrencies, making its appearance in the final version in 2009, developed by an individual who used the pseudonym of Satoshi Nakamoto.

Over the years as a “hacker money” (a definition that is still used today) it has found more and more investors and constant confidence net of decidedly not very prosperous periods: BTC, i token of Bitcoin have in fact assumed very different values, and like the stock market prices, the value has risen or decreased according to different conditions, such as the proverbial supply / demand, and also by the influence of external agents, as happened in recent months, when Elon Musk formalized the purchase of Bitcoin and announced support for the cryptocurrency: at the beginning of 2021 Bitcoin reached the record valuation of $ 64 800 per single BTC, a figure that collapsed when the tycoon himself instead announced that he had “Removed” its support for the first cryptocurrency, collapsing the value that has only partially recovered in recent times.

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How much was Bitcoin worth in 2011?Bitcoin 2011

In the first years of Bitcoin’s “life” it substantially stabilized but the value was much lower than the current one: the first exchange rate was on October 5, 2009 and set the value of one dollar at 1 309.03, while in 2011 the first significant changes arrived.

In fact, at the beginning of the year, for the first time, Bitcoin reached the value of 1 dollar per single BTC, and in 2011 this amounted to up to $ 31 and then “dropped” to a few dollars. At the end of the year, the value stood at $ 4. Figures infinitely smaller than the current ones.

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