How much bitcoin was worth in 2009 and its update

Some people have doubts about how much Bitcoin was worth in 2009 and its update today. That was the time when the world's most famous cryptocurrency came into circulation and marked the lives of many investors. Check it out below. 

How much bitcoin was worth in 2009 and its update

Know how much bitcoin was worth in 2009 and its update is a question that many investors in this asset have. Bitcoin's journey in the investment market has some interesting stories to follow. 

Despite being the world's first digital currency, Bitcoin remains popular to this day. On the main BTC forums, some users talked about the need to create a place where people could buy and sell these coins. 

From this, a user created New Liberty Standard, a rudimentary exchange model. It was actually a p2p site, where users who wanted to buy Bitcoin paid via PayPal and, a few hours later, received the amount in their wallets. 

People started buying and selling Bitcoin. Even if the supply and demand was small, there were people interested in making the transactions, and that was enough. 

In order for Bitcoin to be marketed, it was necessary to create a value for the coins. So, on October 5, 2009, the developer set up an equation and defined that US $1.00 was equivalent to 1,309.03 BTC. In this sense, each Bitcoin cost US $0.00764. The current Bitcoin rate is R $89,968.72. 

What would have happened if you had invested R $50.00 in Bitcoins in 2009

When Bitcoin came into circulation, the currency was priced at US $0.0008, or eight hundredths of a cent. At the same time, the dollar was quoted at R $2.307. This raises many questions among investors: what would have happened if I had invested R $50.00 in bitcoins at the time? 

In this case, if you invested R $50.00 in bitcoins, you would have bought the equivalent of 27,000 BTC. Assuming you never invested in the currency again and didn't touch the digital wallet, after twelve years, the appreciation of fifty reais today would make you a billionaire. 

The reason for this is that at the time Bitcoin was born, it grew by 6,874,574,900. Meanwhile, the dollar doubled in value. In this sense, with the dollar at R $5.44, each bitcoin would be equivalent to approximately R $300,000 today. 

What is Bitcoin?

Bitcoin basically works like normal money, the main difference being that all transactions with it take place online. In other words, it's electronic money that can be transferred without any intervention from public bodies or banks. 

In practice, this means that two people can buy and sell bitcoins, even if they live in different countries. It's worth noting that all transactions take place through the blockchain system, which records all user activities. 

Blockchain technology was born alongside Bitcoin. What's more, it works in such a way that the participants themselves are auditors of the network. As there is no third party involved, sending and receiving bitcoins is cheaper and more practical than traditional money. 

In short, Bitcoin is decentralized electronic money, i.e. it is not controlled by any government, company or person. The value of these coins depends solely on supply and demand. 

What is the difference between Bitcoin and digital currencies?

In principle, the only difference between Bitcoin and other digital currencies is the way in which they are issued and distributed. This is because BCT and altcoins (any cryptocurrency other than Bitcoin) are decentralized. 

In other words, as there is no government, company or person responsible for issuing these coins, the rules are dictated by the users. However, some digital currencies are issued by banks, which is the biggest difference between the models. 

In general terms, the digital currencies issued by the Central Bank of Brazil, for example, are copies of the country's current money. This means that the value is not determined by supply and demand, but by the monetary authority itself. 

How to invest in Bitcoin

There are several ways to invest in Bitcoin today, as well as altcoins. Through so-called exchanges, for example, you can find users selling and buying these assets. 

In this case, users need to choose an exchange and open an account. To open a profile, some personal data is requested, such as name, date of birth and so on. There are some platforms that ask for a confirmation selfie. 

The minimum investment price varies from broker to broker. However, it is common to find platforms starting at R $25.00, while others require a minimum deposit of R $50.00 for the transaction. 

If you are interested in cryptocurrency ETFs, you can go to the Brazilian Stock Exchange and apply. However, as with brokers, investors need to open an account to proceed with the application. 

At the time of purchase, users have to pay brokerage and custody fees for the digital currencies. In addition, there are some B3 charges, if applicable, and administration fees. 

In short, these products can be bought from brokers or managers, and there are also retail investor funds. Find the formula that best suits your investment profile and apply. 

Bitcoin security

According to experts, Bitcoin is safe. One of the greatest proofs of this is that the blockchain, the technology that was born alongside the currency, has never been hacked in more than 10 years. 

The main reason for this security lies in the mechanism created by Nakamoto, especially the two features: consensus and immutability. Consensus is nothing more than the ability of nodes (computers and devices connected to the interface) within a blockchain network to agree on transactions. 

Immutability, on the other hand, refers to the blockchain system's ability to prevent changes to transactions that have already been accepted.

Ana

Passionate about the financial market and investments, today I dedicate part of my time to sharing exclusive and educational content on the CredittCards website.