Turning down a $3 billion BTC offer + Crashing to $0.01

Hello,

Rizzo the Bitcoin Historian here, with the top 5 Bitcoin history moments from the week that was.

From turning down $3 billion in BTC to yet another Bitcoin funeral, we saw some truly amazing flashbacks unearthed by our research team.

Let’s review.

$250: 50,000 BTC for a 2-bedroom?

Let’s call it the biggest mistake in TV history.

This clip from 2015 finds “Million Dollar Listing” star Ryan Serhant selling a property when he receives a pretty unexpected—and unorthodox—offer: 50,000 BTC for a 2-bedroom apartment in New York City.

The price for Bitcoin at the time was a measly $260, placing the luxury apartment at a cool $13 million. Oops.

Here those who didn’t watch the long-running Bravo TV show get to see the owners vehemently reject the offer, leaving Serhant to rent out the apartment instead. Today, the property’s sale would have ballooned to $3 billion. Even his 10-15% cut on the action would have trumped all his TV earnings.

A 5,000 BTC commission? That’s over $300 million.

$6,000: CNBC’s Bitcoin Funeral

Bitcoin obituaries abound – few, however, are recorded on live TV.

But 6 years ago, that’s what happened when CNBC held a Bitcoin funeral when the price was at $6,000. In what was a usual case of TradFi hubris, “Fast Money” host Melissa Lee recounts how a number of crypto pundits’s predictions regarding Bitcoin’s price were a blunder.

It’s meant to be tongue-in-cheek, but the sentiment is real. CNBC had just “retired” its Bitcoin price ticker, which, of course, would later return.

The best part, though, is watching the CNBC staff lampoon everyone who predicted higher prices in a vicious roast.

Today, BTC is up only $60,000 a coin.

$18: A “rookie mistake”

Everyone has anxiety when they first buy Bitcoin. What sets “dannickherpderp” apart, though, is that he first bought BTC in 2011.

The early legend posted for the first time on June 7, 2011, explaining he leaned “a bit libertarian,” and wondering if he had missed the boat. His first posts show he was anxiety to buy his first bitcoin as soon as possible.

But all his eagerness played him a bad hand, and he quickly fell victim to Bitcoin’s well known volatility—and a bit of the Dunning-Kruger effect. He thought he had Bitcoin’s patterns under control, but that was not the case.

Dannickherpderp bought in at $18.50, only to watch it drop to $14 a few days later. “Ugh, rookie mistake,” he wrote.

Little did he know that his faith would be put to the test just days later when BTC flash crashed to $0.01.

Early adopters – we salute you ~

$0.01: Mt. Gox flash crashes in June 2011

I’ve seen my fair share of price crashes over the years – but even I’ve never seen Bitcoin go to $0.

That’s what makes this clip by early Bitcoin legend – Brother John F Silver – so special. Here, we get to see someone witness – and report live – on something that every Bitcoin investor fears.

We don’t just see the charts here, Silver narrates the action as the Bitcoin price plummeted from $17 to $0.01 in a matter of minutes. He then speaks for all of us watching as he wonders openly whether the “if the critics were correct” and laments the $90 or so he’d lost to his investment.

It’s incredible to look back on the moment. Certainly, we’ll never see this type of price action again.

$20,000 | Bukele’s bear market advice

They don’t call him “The Bitcoin President” for nothing.

Sure, El Salvador’s president Nayib Bukele is a Bitcoin legend for buying BTC and promoting it so heavily in his country’s economy – but he also has a way with words and is one of our community’s most eloquent spokespeople.

Here, amid the volatility of 2022, we see Bukele remind crypto Twitter to enjoy life away from TradingView.

“Stop looking at the graph,” he said on June 18. “Enjoy life. If you invested in BTC, its value will immensely grow.”

It speaks to Bukele’s deep conviction and shows he knows what being a leader really means.

See you all on Friday,

Rizzo

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