2020 is coming to an end, and what better way to surprise your child or best friend than with a brand new Playstation 5… or a Bitcoin? Turns out, if you had bought a single Bitcoin instead of the next-generation console as a gift for your friends at Christmas, they might be thanking you much more today, looking at the history of prices. Let’s take a look back at the short history of Bitcoin’s prices compared to Playstations, one of the most well known household names in gaming today.
A Look At The History Of Bitcoin’s Prices Compared Against Playstations
Wasting no time, let’s get into comparing the costs of one of the greatest gaming consoles, and crypto’s greatest market share.
Playstation 1: 1995
Cryptocurrencies didn’t exist back when Playstation was launched. 1995 also marks the era of the dot-com bubble of 1995 – 2004, which saw explosive growth in Internet-related technologies in an almost symbolic parallel of the growth of cryptocurrencies.
We know better now that the rise of the internet bubble was just a precursor to the next generation of supercompanies, technology and businesses – will the same thing be happening for cryptocurrencies?
Playstation 2: 2000
The Playstation 2 is the best selling game console of all time, with over 158 million units sold worldwide. At an introductory price of $299, that means Playstation 2s accumulated a market worth roughly $47 billion. Bitcoin is yet to exist for another 9 years – but in comparison, the market capitalization of Bitcoin in its 5th year was $8.4 billion.
Playstation 3: 2006-2010
The Playstation 3 was first released in 2006 to the North America market, when Bitcoin still didn’t exist. A few years later in September 2009, the company released an upgrade in the form of the Playstation 3 Slim. A few months prior to the release, Bitcoin was born, with the genesis block having been mined on 3 January 2009.
At this time, Bitcoin was worth nothing. Following the launch of the first Bitcoin exchange in 2010, Bitcoin was officially valued at $0.003. Notably, this would place the price of the Playstation 3 Slim ($299) higher than 100,000 BTC.
The first proper real-world transaction for a Bitcoin purchase was made in May 2010, where Laszlo Hanyecz purchased 2 pizzas (worth $25) with 10,000 BTC, putting the price of a Bitcoin then at $0.0025. This day has gone down in history as Bitcoin Pizza Day, celebrated annually by the crypto community.
Playstation 4: 2013
Bitcoin kicked off the year of 2013 trading at $13.50 – just the price of a tasty extra large pizza. But in November, when the Playstation 4 released to the public at a launch price of $399.99, Bitcoin went from $200 to over $1,075 by the end of the month. As Bitcoin enjoyed an exciting rally, the cryptocurrency hit its then all time high price. By the end of the month, users would have been able to purchase two and a half Playstations for 1 Bitcoin.
Playstation 5: 2020
The Playstation 5 currently costs $499 at launch. When compared to that Playstation 4 you got for Christmas seven years ago, it’s now 35 times more valuable. Meanwhile, Bitcoin is enjoying an incredible year. This year the cryptocurrency proved its worth holding strong throughout the pandemic. Bitcoin also saw increased adoption rates and an incredible new all time high, surpassing the previous record made in December 2017. The cryptocurrency saw some impressive investor interest, from institutional investors to large corporations, Bitcoin firmly established itself in the mainstream markets.
As we take a look at the history of Bitcoin’s prices compared to Playstations, maybe it’s time to upgrade your gifting game and instead treat those around you to the gift of an accumulating asset. As Bitcoin has soared to great prices this year while still earning the respect of the traditional financial sector, it’s as good a time as any to give the gift that keeps on giving. Skip the shops this year and buy Bitcoin with just your credit or debit card directly on Oobit.
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