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Oct 30, 2018

Happy birthday, bitcoin!: 10 years on, valuation is still a question

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Happy Anniversary to Bitcoin!

It was Halloween 2008 when Satoshi Nakamoto, which may be a pseudonym for one or more programmers, published a paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.”

Did he, she or they know what was being unleashed? Ten years later, the digital currency developed by the still unknown creator is valued at more than $6,250 even with the wild fluctuations of the past year.

Since the first Bitcoins were sold privately, it’s not clear how to assign an original value. One of the first known transactions was in May 2010 for 10,000 Bitcoins to indirectly buy two pizzas for about $30, or less than a cent for each Bitcoin.

A decade or so later, the size of the cryptocurrency market it spawned is estimated at more than $200 billion.

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