TL;DR
On October twelfth 2009, Martti Malmi traded 5,050 BTC for $5.02, through a PayPal transaction.
Since 2009, Bitcoin has elevated by: 34,126,864 X.
If you happen to had been questioning how a lot Martti’s spent cash are price at Bitcoin’s present market cap, the quantity you are in search of is ~$171M.
Full Story
Wow. Okay. We get it now.
Bitcoin maximalists aren’t exaggerating once they say BTC is ‘the best funding alternative of all time.’
We might by no means performed the mathematics on this earlier than right this moment – however, get this….
Since 2009, Bitcoin has elevated by:
34,126,864 X.
Not 34 million %. 34 million TIMES.
That is the loopy half….now this is the bizarre half:
We will calculate this, due to a Finnish software program developer and a PayPal transaction he made on October twelfth of the identical 12 months…
Confused? Here is what occurred:
Again in October of 2009, Bitcoin had by no means been traded for fiat {dollars} earlier than – and also you by no means know for positive how a lot a ‘factor’ is price, till its perceived value has been confirmed with a purchase order.
On October twelfth 2009, Martti Malmi traded 5,050 BTC for $5.02, through a PayPal transaction.
Here is our again of the serviette math on all of it:
$5.02/5,050 = $0.0009940594 per Bitcoin in 2009 (BTC’s present value = $33,924.13).
$33,924.13/$0.0009940594 = a 34,126,864 X enhance over the previous 14 years.
Wild!
P.S. If you happen to had been questioning how a lot Martti’s spent cash are price at Bitcoin’s present market cap, the quantity you are in search of is ~$171M.
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