Bitcoin history moment
In 2009, before exchanges, charts, or liquidity, Bitcoin’s first “exchange” was New Liberty Standard—run by early Bitcoin developer Martti Malmi (Sirius). There were no order books. You emailed your request. Payments were made via PayPal. That was it.
So, how was Bitcoin first priced?
Not hype. Not speculation. Electricity.
The original BTC price was calculated from the cost of electricity required to mine coins. On October 12, 2009, 5,050 BTC were exchanged for $5.02, valuing Bitcoin at roughly $0.00099 per BTC—a transaction now etched forever on the blockchain.
It was an era defined by decentralization, experimentation, and cypherpunk ideals: minimizing trust, promoting financial sovereignty, and returning money to its roots.
Martti Malmi’s early work from 2009 to 2011 helped shape Bitcoin into what it is today. His name isn’t mentioned enough—but without pioneers like him, this journey may have looked very different.
From electricity to a global monetary network.
Never forget the roots.
