Failed 10,000 Bitcoin (BTC) Auction Pegged at $50 in 2010, Now Worth Nearly Half a Billion Dollars

Failed 10,000 Bitcoin (BTC) Auction Pegged at $50 in 2010, Now Worth Nearly Half a Billion Dollars

A Twitter user illustrates the tremendous growth of BTC over the last 12 years.

It is no longer news that Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has seen its value surge tremendously since its inception in 2009. 

A Bitcoin enthusiast ‘documenting Bitcoin’ has taken to Twitter to narrate the rapid growth of Bitcoin in the last 12 years, by sharing messages from a public forum, where a Bitcoin owner tried to auction his 10,000 units of BTC in exchange for $50. 

“Twelve years ago, someone tried to sell their 10,000 bitcoin for $50. The highest bidder only offered $25 and the auction was then closed. Today, that bitcoin is now worth half a billion dollars,”

Twelve years ago, someone tried to sell their 10,000 #bitcoin for $50. The highest bidder only offered $25 and the auction was then closed.

Today, that #bitcoin is now worth half a billion dollars. pic.twitter.com/B9ZcHtsOuj

— Documenting Bitcoin 📄 (@DocumentingBTC) March 30, 2022

On March 30, 2010, the BTC owner tried to auction 10,000 units of BTC with the starting bid set at $50. The user with the username “SmokeTooMuch” noted that the auction will run for seven days, with each user expected to bid a dollar higher than the previous users’ bids. 

Of all the community members who joined the auction, the highest bid was $25, with nobody willing to risk up to $50 for the BTC, which was worth $65.50 at the time. 

Fast forward to today, Bitcoin has become increasingly popular, with retail, institutional, and corporate clients flocking to the market to own a piece of the asset class. 

What was valued at around $65 12 years ago, is now worth nearly half a billion dollars. At the time of writing this line, the 10,000 units of BTC are currently worth $471.6 million. 

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