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Feb 9, 2011 Bitcoin reaches $1
In February 2011, one bitcoin was worth one US dollar for the first time.
- Date
- Feb 2011
- Price
- ≈ $1
- Exchange
- Mt. Gox
What happened
For its first two years, Bitcoin traded for fractions of a cent to a few cents. In early 2011, demand from a growing community pushed the price on the Mt. Gox exchange up to parity with the dollar.
The milestone brought the first wave of press coverage, and the price kept rising to roughly $30 by June before a sharp crash. It showed the pattern that would repeat for years: fast rises, deep falls and a stronger base afterwards.
Why it mattered
Dollar parity was Bitcoin’s first price milestone. See the whole year in Bitcoin in 2011.
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