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NewLibertyStandard published the first-ever exchange rate for Bitcoin: $1 = 1,309.03 BTC ($0.000764 per BTC). The rate was calculated based on the electricity cost required to mine Bitcoin — a rudimentary but historically significant first attempt to assign monetary value to Bitcoin.
Martti Malmi sold 5,050 BTC to NewLibertyStandard for $5.02 via PayPal — the first known exchange of Bitcoin for fiat currency. The transaction established a real-world price of approximately $0.001 per BTC.
NewLibertyStandard proposed adopting the Thai baht currency symbol (฿) as Bitcoin's official symbol and 'BTC' as the three-letter currency code. This proposal on BitcoinTalk established the currency notation still used today.