From Fishballs to Teslas: What Filipinos Could Afford with 1 Bitcoin Over Time

Since the creation of Bitcoin, its value has seen significant highs and lows over the years. In this article, BitPinas highlights what 1 BTC could buy today if its fiat value from 2009 to 2024 were used.

Background to Bitcoin:

In 2008, the anonymous Satoshi Nakamoto released a whitepaper introducing Bitcoin, a decentralized digital currency enabling secure peer-to-peer transactions without intermediaries. Bitcoin’s public ledger, or blockchain, is maintained through a proof-of-work process in which miners solve mathematical puzzles to earn new Bitcoins, providing transparency and security.

On January 3, 2009, Nakamoto mined Bitcoin’s Genesis Block, containing a message hinting at the 2008 financial crisis and marking Bitcoin’s symbolic stand as an alternative financial system. The initial mining reward of 50 Bitcoins has since halved over time to control inflation and maintain scarcity.

The first transaction that gave Bitcoin monetary value happened in October 2009, when Finnish student Martti Malmi, also known as Sirius, sold 5,050 Bitcoins for about $5.02, making each Bitcoin worth $0.0009.

On May 22, 2010, Laszlo Hanyecz made the first known real-world Bitcoin transaction by paying 10,000 BTC for two pizzas, although the purchase was indirectly made through a forum user, Jeremy Sturdivant, who initially paid $25 for the pizzas.

For more articles about BTC, check out the BitPinas Bitcoin Series:

• Bitcoin Month: Origins and Key Milestones in Bitcoin’s History
• Bitcoin Pizza Day: The Story Behind the First-Ever Real-World BTC Transaction
• How to Buy and Store Bitcoin: A Step-by-Step Guide
• Bitcoin and the Lightning Network: An Introduction to Scalability Solutions
• Bitcoin in the Philippines: Adoption, Regulation, and Use Cases
• Bitcoin Investing: Strategies, Risks, and Potential Rewards
• Understanding Bitcoin: What is it, How it Works, and Why it Matters

Bitcoin Prizes Through the Years and What Can You Buy:

Since its start in 2009, Bitcoin has transformed from a nearly worthless asset to a global powerhouse. This article tracks Bitcoin’s journey by looking at its changing value over the years and comparing what one Bitcoin could buy in the Philippines at each stage.

Note: The exchange rate used in this article is ₱58.87 to $1, based on the USD to PHP rate on November 14.

2009 1st BTC Transaction

Value: $0.0009 (₱0.053)

What can you buy: 

• 1 fishball
  • These are balls made from fish paste which are then boiled or deep-fried. In the Philippine streets, it is often sold for 2 pieces for ₱1.
  • Note: Some areas in the country may sell these now at ₱1 a piece or even higher due to the increasing inflation rate. 

2010 Year-End Value

Value: $0.030 (₱1.76)

What can you buy: 

• 1 candy or gum
  • With the current prices, a person can often buy a piece of candy or gum ₱1.50 or 2 pieces for ₱3.

June 2011 Peak Price

Value: $29.60 (₱1,742)

What can you buy: 

• Food
  • A mid-range meal for 5 or more people at a local restaurant or fast-food chains
  • At a more casual dining spot, one can afford a meal for two
  • A week’s worth of groceries for 1-2
  • A premium box of imported chocolates
• Personal Item
  • 1-3 casual clothing
  • Good quality bag, accessories

• Electronics & Gadgets
  • A budget smartphone accessory (phone case, power bank, or bluetooth earphones or speakers, etc.)
  • A mid-range laptop bag or backpack
• Entertainment & Leisure
  • A hotel stay for one night in mid-range hotels
  • A full-body massage or wellness treatment
  • A subscription for premium online classes or tutorials (Skillshare, Udemy, or Coursera)

2011 Year-End Value

Value: $5 (₱294)

What can you buy: 

• Food
  • Combo meals for 1-2 people at a fast-food restaurant
  • A few servings of street food, such as fish balls, kwek-kwek, barbeque, and more
  • A small pizza from budget pizza chains
  • Coffee from local cafes or known chains
• Household Items
  • Small kitchen gadgets
  • Food containers
  • Budget storage boxes
• Electronics & Gadgets
  • Basic phone accessories (case, screen protector, wired earphones, etc.)
• Entertainment & Leisure
  • One can already get a subscription for 1 on entertainment services like Netflix, Spotify, and others
• Transportation
  • A short trip around the metro through ride-hailing apps like Grab and Angkas

2012 Closing Price (This year was noted to be uneventful)

Value: $13.45 (₱791)

What can you buy: 

• Food
  • 1 Family-size pizza (12-inch)
  • 1 Sack of rice (10-kilo)
  • A 6 or 8-piece fried chicken bucket
  • A 1-tier cake

• Personal Item
  • 1-2 shirts or a pair of pants
  • A mid-range skincare and/or haircare set
  • A quality backpack or sling bag from local brands 
• Household Items
  • A small or basic home appliance (small fan, iron, blender, cookware, etc.)
  • Basic bed linens
• Electronics & Gadgets
  • A decent portable power bank
  • Bluetooth speakers
  • A fitness tracker or basic smart band
• Entertainment & Leisure
  • Movie tickets for 2
  • 1-2 books
  • A game or game credits
  • A day pass for 1 to an entertainment venue (Skyranch/Star City)

April 2013 $100 Breach

Value: $100 (₱5,885)

What can you buy: 

• Food
  • Buffet access for 3-5 people
  • 2-3 premium sushi rolls
  • A month’s worth of groceries for 2-4 people

• Personal Item
  • A premium branded watch
  • A luxury wallet or leather bag 
  • A pair of branded sneakers/shoes
• Household Items
  • A basic refrigerator
  • A high-quality air purifier or dehumidifier
  • Small multi-piece furniture set
• Electronics & Gadgets
  • A budget smartphone
  • Entry-level models of tablet
  • A gaming console (secondhand)
  • A smartwatch 
  • Entry-level smart home devices
• Entertainment & Leisure
  • A domestic flight ticket (could be round-trip if there is a promo or less demand)
  • A weekend staycation at a local resort for 2-3 people
  • Ticket to a concert or theater show at a decent seat (The price range for general admission to upper box seats at MOA Arena is between ₱3,000 and ₱5,000+.)
  • Gym membership (up to three months)
• Transportation
  • An entry-level bike
  • Budget e-scooter

October 2013 Stable Price Jump

Value: $200 (₱11,770)

What can you buy: 

• Food
  • Groceries for 2+ months
  • Fine dining for two

• Personal Item
  • Wearable heart rate monitor
  • High-quality leather jacket
• Household Items
  • Portable washing machine
  • High-quality mattress (double or queen-size memory foam)
  • Robot vacuum
  • Portable air conditioner
  • Espresso machine
• Electronics & Gadgets
  • Smartphone (mid-range model)
  • Entry-level drone
• Entertainment & Leisure
  • Domestic travel package for 1 (round-trip tickets + affordable accommodations)
  • Advanced LEGO sets
  • Brand new gaming console 
• Transportation
  • Driving Lessons

November 2013 $1,000 Breach

Value: $1,000 (₱58,851)

What can you buy: 

• Food
  • Ultra-Luxury Dining Experience for Four (Michelin-level restaurants)

• Personal Item
  • Luxury watch
  • Designer Handbag
  • Custom-made jewelry
• Household Items
  • Mid-range home theater systems
  • Inverter refrigerator
  • Front-load washing machine with dryer
  • Smart tv (65-inch)
  • 6-Seater dining table set
• Electronics & Gadgets
  • MacBook Air 13-inch (M1, 2020)
  • SamsungGalaxy Z Flip6
  • Samsung Galaxy S23
  • GoPro Hero 12 Black
• Entertainment & Leisure
  •  1-year luxury spa membership
• Transportation
  • Electric Bike

2014 Peak Price

Value: $850 (₱50,000)

What can you buy: 

• Personal Item
  • Tailored Suit
  • Luxury Perfume Collection
• Household Items
  • Inverter split-type air conditioner
  • French door refrigerator
  • Smart washing machine
  • Premium sofa set
• Electronics & Gadgets
  • iPhone SE 
  • iPad Air 
  • Samsung Galaxy A54
  • Apple iPad Air (5th Gen)
  • DSLR camera kit 
  • Entry-level gaming laptop
• Entertainment & Leisure
  • Hot air balloon ride
  • Luxury spa package for 2
  • Golf club set
  • Weekend Yacht Rental
  • Sony PlayStation 5
  • Sony PlayStation VR2
  • Virtual Reality (VR) Headsets
• Health & Medical Services
  • Comprehensive Health Check-Up Package
  • Dental Implants
  • Eye LASIK Consultation & Treatment (One Eye)
• Transportation
  • E-motorcycle (Entry-level brands)
  • Second-hand motorcycle
• Education
  • A semester worth of tuition fee at affordable Private Institutions

2015 Closing Price

Value: $362.73 (₱21,347)

What can you buy: 

• Personal Item
  • Gold necklace or bracelet
  • Ray-Ban sunglasses
  • Electric toothbrush
  • Massage gun
• Household Items
  • Inverter microwave oven
  • Ergonomic office chair
  • Samsung Soundbar
  • Dyson V8 Cord-Free Vacuum
  • Samsung 32″ UHD LED TV
• Electronics & Gadgets
  • Nintendo Consoles
  • Electric guitar (entry-level)
  • Iphone 11 and 12
• Entertainment & Leisure
  • Three-session spa package
  • VIP Tickets to Major Concerts/Events
• Education
  • Attend technical and vocational institutions

2016 Peak Price

Value: $900 (₱52,966)

What can you buy: 

• Personal Item
  • Louis Vuitton Wallet
• Household Items
  • King size bed frame (wooden)
• Electronics & Gadgets
  • Apple iPhone 14 to 15 Plus 
  • Razer Blade 15 Laptop
  • High-end laptops
• Entertainment & Leisure
  • Days of domestic travels for 2-5 people
• Education
  • A semester worth of tuition fee at mid-range private institutions

May 2017 $2,000 Breach

Value: $2,000 (₱117,703)

What can you buy: 

• Household Items
  • Panasonic 55-inch 4K UHD Smart TV
  • Dyson V15 Detect Cordless Vacuum Cleaner
  • Samsung 1.5HP Inverter Split-Type Air Conditioner
• Electronics & Gadgets
  • Apple MacBook Pro 14-inch 
  • Apple iPhone 15 to iPhone 16 Pro Max
  • Samsung Galaxy Z Fold 5
  • High-end custom-build PC
• Entertainment & Leisure
  • 5-Star Hotel Staycation for at least 10 days
  • 7 day cruise for 1
• Transportation
  • Brand new motorcycle
  • 4-wheel electric bike/golf cart type
• Education
  • A semester worth of tuition fee at high-end private universities

Mid-December 2017 Closing Price

Value: $19,665.39 (₱1.1 million)

What can you buy: 

• Transportation
  • New Isuzu D-Max (Base Model) 
  • Toyota Vios, Wigo
  • Suzuki Ertiga, Celerio
  • Honda Mobilio, Brio
  • Mitsubishi Mirage G4
  • Toyota HiAce Commuter (basic variant)
  • Used Luxury Cars
  • Ducati Scrambler 1100 Sport PRO motorcycle
• Real Estate
  • Studio or 1-Bedroom Condo (Metro Manila) 
  • Affordable House and Lot (Outside Metro Manila)
  • Residential Land in Provincial Areas
• Business
  • Franchise Opportunities for huge brands
  • Car Wash Business Setup
  • Small-Scale Coffee Shop

2018 Closing Price

Value: $3,692.53 (₱217,312)

What can you buy: 

• Household Items
  • Complete Smart Home Setup
  • Premium Home Theater Systems
• Electronics & Gadgets
  • High-end custom built PC 
• Entertainment & Leisure
  • 3-4 day Luxury Resort Stay 
  • International trips in neighboring countries
• Transportation
  • Used sedans
  • Honda ADV160 (motorcycle)
• Real Estate
  • Downpayment for Economy-Mid-Range Condos
  • Downpayment for an affordable house and lot
  • small parcel of land (Rural area)
• Business
  • Food Cart Franchise
  • Laundry shops
  • Water refilling stations
  • Photocopying & printing businesses
• Education
  • Tuition fee for international schools and foreign-affiliated universities

2019 Closing Price

Value: $6,612 (₱389,128)

What can you buy: 

• Entertainment & Leisure
  • International trips outside of SEA
• Transportation
  • Used SUV or crossover cars
• Real Estate
  • Downpayment for Mid-Range Condos
  • Small residential lot or commercial space in suburban or emerging areas
  • Agricultural land (100-200 square meters)
• Business
  • Food and Beverage Small Kiosk
  • Online Business and E-Commerce
  • Bakery Business

2020 Closing Price

Value: $28,993 (₱1.7 million)

What can you buy: 

• Transportation
  • Mid-Range SUV
  • Commercial vehicle like locally produced e-jeepney or van to operate a transportation business
  • Electric Cars
• Real Estate
  • One-Bedroom condo unit 
  • More or less a hectare of land in rural areas (depends on location)
• Business
  • Mid-range fast food and casual dining franchise

January 2021 Start of Bullrun Price

Value: $40,000 (₱2.3 million)

What can you buy: 

• Entertainment & Leisure
  •  Round-the-world business class tickets for 2
• Transportation
  • Honda Accord
  • Mazda 6
  • Hyundai Grand Starex
• Real Estate
  • Small residential lot or commercial space in suburban or emerging areas
  • One-bedroom or two-bedroom condo unit
  • One-bedroom townhouse in suburban areas
• Business
  • Mid-sized food franchises
  • Self-built restaurant or café

2021 All-time High

Value: $69,000 (₱4.06 million)

What can you buy: 

• Transportation
  • Luxury SUV 
• Real Estate
  • A two-bedroom condo in Metro Manila
  • Three-bedroom house and lot in suburban areas
  • Smaller townhouses in gated communities within NCR
• Business
  • Larger food franchise
  • Mini-mart franchise

June 2022 Bear Market Dump

Value: $23,000 (₱1.3 million)

What can you buy: 

• Electronics & Gadgets
  • High quality photography kit
• Transportation
  • Kia K2500
  • Suzuki Jimny
• Real Estate
  • Condo down payment in growing urban centers
  • Residential Lot in provinces outside of NCR
  • Small foreclosed property in suburban areas or provinces
• Business
  • Small food cart franchises
  • Start-up costs for a food stall
  • Small Clothing Boutique

2023 Opening Price

Value: $16,530 (₱972,822)

What can you buy: 

• Transportation
  • Brand new compact car
  • Used SUV
• Real Estate
  • Condo down payment
  • Small agricultural plot 
  • House and lot in provinces
• Business
  • Food cart franchises from known brands

2024 Current ATH

Value: $93,477 (₱5.5 million)

What can you buy: 

• Transportation
  • Premium vintage or classic cars
  • Luxury sedans
  • Tesla Model Y RWD
• Real Estate
  • A sizeable lot in suburban areas or provinces
  • Studio or one-bedroom condo in popular Metro Manila locations
• Business
  • Independent mini grocery or convenience store
  • Boutique hotel or bed & breakfast
  • Digital or creative studio
  • Fitness center or boutique gym
  • Franchise of high-end fast food chains

Conclusion

From its humble beginnings with a value close to zero to reaching record highs in 2024, Bitcoin’s extraordinary rise has mirrored broader shifts in the Philippines, reflecting changes in inflation, technological advancements, and evolving consumer behavior. As Bitcoin continues to grow and adapt, it is poised not only to reshape the financial landscape but also to influence the lives of its Filipino investors.

This Article is Published on BitPinas: From Fishballs to Teslas: What Filipinos Could Afford with 1 Bitcoin Over Time

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