BITCOIN

The first car purchased with Bitcoin makes an appearance at the Bitcoin conference! Currently open for bidding, but the highest bid is only 0.55 BTC.

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The first car purchased with Bitcoin makes an appearance at the Bitcoin conference! Currently open for bidding, but the highest bid is only 0.55 BTC.

For the crypto community, the origin of Bitcoin Pizza Day is certainly not unfamiliar. But did you know that in addition to purchasing two large pizzas with 10,000 bitcoins, someone once bought a car with 1,000 bitcoins? This car is currently on display at this year's Miami Bitcoin Conference and is up for auction.

The First Bitcoin Car

In 2013, Bitcoin pioneer Rassah bought a Toyota Prius with 1,000 bitcoins, which was valued at around $22,000 at the time, making it the first car ever purchased with Bitcoin.

Coindesk first reported this story in 2019, and as the price of Bitcoin continued to rise, the crypto community referred to this car as the "$48M Prius," even though Bitcoin prices surged past $69,000.

Since 2013, this car has been to over 30 Bitcoin events and transported hundreds of thousands of dollars in cash from early Bitcoin ATMs.

The First Bitcoin Car Up for Auction

At this year's Miami Bitcoin conference, the legendary Bitcoin car made another appearance, inviting several Bitcoin pioneers to sign on it, further solidifying its historical significance.

"This car is an important part of Bitcoin history, as far as I can remember, it was the first real and serious purchase made with Bitcoin. It's not just buying a pizza from Papa Johns, it's significant. This car is like the original Lambo for the Bitcoin community." said David Bailey, CEO of Bitcoin Magazine.

Aside from the display, the car is currently in a 10-day auction, where interested buyers can participate in the bidding on the auction website Scarce.City, with the bidding expected to end on 5/21 at 11 pm.

The current highest bidder is digital artist Johnny Dollar, a crypto enthusiast, with a bid of 0.55 BTC.

Unfortunately, despite the car's exciting history known to Bitcoin enthusiasts, the current bid is only valued at $14,787, even lower than the initial purchase price of $22,000.

Reference Press Release