Bitcoin Values Over Time
The bitcoin phenomenon has been through a rollercoaster ride of media buzz, hyper speculation and polarized opinions. Although they have slowly become more accepted on main street, the volatility of their values has left many businesses feeling anxious about offering their goods or services in exchange for bitcoins. Starting off around 1 cent per bitcoin back in early 2010, the crytpocurrency hit peaks of over $1,200 in 2013 before settling down to the present day range of $200-$300 per coin.
One of the first purchases made using bitcoins is attributed to online user ‘laszlo’, who famously offered 10,000 BTC for a couple of pizzas in 2010. At the time, his bitcoins were worth about $40, which seemed like a reasonable transaction. However, had he opted to wait a few years, he would have been sitting on a stash worth more than $12,000,000! Even with the subsequent drops in value, his two pizza order would have been worth nearly $3 million today. It’s no surprise that this kind of volatility has merchants and consumers on edge about adopting the cryptocurrency in their daily lives.
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