Throwback: Bitcoin's First Dollar Trade 💵
On this day in 2009, early Bitcoin contributor Martti Malmi sold 5,050 BTC to NewLibertyStandard for $5.02 via PayPal, widely cited as the first known Bitcoin for fiat exchange. That priced 1 BTC at about $0.001. NewLibertyStandard had published an electricity cost based rate a week earlier ($1 = 1,309.03 BTC on Oct 5). This sale came before the May 2010 pizza trade and helped prove BTC could clear for real money.
Would you have sold 5,050 BTC for five bucks?👇🏼
On this day in 2009, early Bitcoin contributor Martti Malmi sold 5,050 BTC to NewLibertyStandard for $5.02 via PayPal, widely cited as the first known Bitcoin for fiat exchange. That priced 1 BTC at about $0.001. NewLibertyStandard had published an electricity cost based rate a week earlier ($1 = 1,309.03 BTC on Oct 5). This sale came before the May 2010 pizza trade and helped prove BTC could clear for real money.
Would you have sold 5,050 BTC for five bucks?👇🏼