At its peak price in November 2021, 1 Bitcoin (BTC) could have been used to purchase a 2021 Tesla Model Y, valued at $62,190. This highlights the significant increase in Bitcoin’s purchasing power over the years. Back in 2014, 1 BTC was only worth $465, making it impossible to buy even a regular car at that time.
Bitcoin’s acceptance as a means of payment has also evolved over time. In 2010, the first real-world Bitcoin transaction took place when two pizzas were exchanged for 10,000 BTC valued at $41. By 2017, Bitcoin had surged to $19,665.39, representing a substantial increase in its value.
While Bitcoin has gained acceptance as a payment method for various goods and services, currently only two nations, El Salvador and the Central African Republic, recognize it as legal tender.
Looking at the maximum purchasing power of 1 BTC each year, in 2015, it could buy 3.5 shares of Netflix or cover the cost of five nights in an Airbnb private room. These examples illustrate the changing value and buying potential of Bitcoin over time.
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