How much was bitcoin when it first came out? Will dogecoin reach bitcoin level?

Bruno Cooke May 5, 2021
A brief history of bitcoin

The value of a single coin has surged to record highs in recent weeks, more than doubling since the start of 2021. But how much was bitcoin when it first came out, and how long did it take to reach $1000? And finally, will dogecoin ever reach bitcoin level?

How much was bitcoin when it first came out?

When it first emerged in 2009, the value of one coin was $0.

A few months later, in 2010, when bitcoin first started trading, a single coin was worth somewhere between $0.08 and $0.0008.

In layman’s terms, that’s somewhere between eight cents and eight hundredths of a cent. Or, not very much at all.

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Bitcoin trade graph candlesticks online. Btc USD buy sell trade stocks. Blockchain cryptocurrency trading

How long did it take bitcoin to reach $1000?

The current value of a single bitcoin is $57,512.17 – up more than 5% in the last 24 hours alone.

But its value hasn’t increased at a constant rate since it first came into being.

On 1 December 2013, a single bitcoin was worth $1,154,93, meaning it took three years to reach its first thousand.

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What happened to bitcoin after that?

For over four years from the end of 2013, it hovered at between $200 and $700 per coin.

Then, in 2017, it had its first major surge. It peaked on 18 December at just under $20,000 per coin.

But it experienced another lull a year or so later, dropping to not much more than $3,000 for a period of four or five months.

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Photo by Britta Pedersen-Pool/Getty Images

When did bitcoin start?

Bitcoin started in 2009, and has been around as a tradable currency since 2010. 

Recently, bitcoin and other cryptocurrencies have received big name endorsements, which has made them more credible to investors.

Elon Musk (of Tesla and SpaceX fame), Jack Dorsey (founder of Twitter) and Jay-Z are among those to have endorsed the cryptocurrency.

Will dogecoin reach bitcoin levels? Will it be the next bitcoin?

Questions about whether or not dogecoin will be the next bitcoin have circulated since it received several high profile endorsements of its own.

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Photo by Liu Junfeng/VCG via Getty Images

Dogecoin has surged in value since it was launched in 2013. But its volatility means it can go down sharply, as well as up.

While its proponents advocate “HODLing”, others urge caution among potential investors. 

PLEASE NOTE: Our publications do not offer investment advice and nothing in them should be construed as investment advice. … The information contained in our publications is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any securities.

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Bruno is a postgraduate student studying global journalism, with research interests in the intersection of the media, storytelling, culture and politics. His articles have appeared in Groundviews, Packs Light and Forge Press, and most are readable on Medium or onurbicycle.com. He is a Student Ambassador for Tortoise Media, a big fan of Freddie Mercury and a novelist – his debut novel, Reveries, is available on Amazon.