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#OnThisDay June 19, 2011 — Bitcoin hit 1 Cent 🔥
MtGox got hacked. A hacker crashed $BTC from $17.50 to $0.01. The hacker grabbed 2,000 BTC at the rigged price — but regular users also bought ~650 BTC at 1 cent before trading halted. That's $6.50 total spent. SIX DOLLARS AND FIFTY CENTS.
None of those 650 BTC were ever returned by MtGox — so whoever bought them either kept them in their own wallet or lost them when MtGox collapsed in 2014.
If they held? Those 650 BTC are worth ~$60–85 million today depending on the day. On the 2025 all-time high of $126k, that peak would've made it worth over $82 million.
We don't know who they were. We don't know if they're still holding. But somewhere out there, someone turned $6.50 into generational wealth — or sold at $30 thinking they won. 💀
The dip was real. The conviction wasn't.