Between its inception in 2009 and today, Bitcoin has enjoyed a spectacular rise in value. First traded in early 2010, the cryptocurrency was pretty much worthless through its first year.
In June 2010, when the iPhone 4 came out, it cost almost 10,000 Bitcoins (the equivalent of US$649, the price of every single standard iPhone at its release date—until the release of iPhone 8 this week).
Unlike the dollar amount, every iPhone apart from the iPhone 6S cost less Bitcoin than the one before.
How many Bitcoins did each iPhone cost at the time of release?
How many iPhones could you have bought with 10,000 Bitcoins?
How many Bitcoins (or Satoshis) might we have to pay for the next iPhone?
It’s not certain that Bitcoin will be able to keep up its phenomenal rally, especially given regulatory uncertainty and the universal truth that nothing can rise forever.