Bitcoin news

Bitcoin Pizza Day: 2 pizzas purchased for 10.000 Bitcoins in 2010 are now worth 91 million dollars

Good Bitcoin Pizza Day! Ten years ago, a Las Vegas programmer made the first purchase with Bitcoins.

Bitcoin Pizza Day: let's celebrate the tastiest event!

May 22 has become a big day and the programmer will forever be known as "Bitcoin Pizza Guy".

Today, fans of cryptocurrency around the world are celebrating Bitcoin Pizza Day - the ten-year anniversary of the first Bitcoin transaction.

In 2010, a Las Vegas programmer, Laszlo Hanyecz, has decided to buy a pizza.

To pay for two Papa John pizzas worth $ 25, the boy spent 10.000 Bitcoins.

May 22 became a memorable day for the Bitcoin community and Laszlo Hanyecz will forever be known as "Bitcoin Pizza Guy".

The guy who accepted Hanyesz's offer was Jeremy Sturdivant of Jacksonville, a cryptocurrency enthusiast.

Back then BTC was practically worthless, 1 BTC was worth around $ 0,008. Before Hanyecz, no one used Bitcoins to make payments, and prices were largely based on theoretical value.

As Bitcoin has grown in value over time, the cost of those two pizzas has become mind-boggling.

For example, in 2017, when the Crypto Community was celebrating Bitcoin Pizza Day, 10.000 BTC was worth over $ 21 million.

In the 2018, the cost of pizza has risen to $ 82 million. By the ninth anniversary, this amounted to around $ 80 million.

Today, the price of Bitcoin stands at $ 9.102,81, according to CoinMarketCap: this implies that the two pizzas would now cost over $ 91 million.

History of Bitcoin Pizza Day

A couple of years after the transaction, Hanyecz said:

“It wasn't that bitcoins had any value, so the idea of ​​trading them for pizza was incredibly cool. Nobody knew it would get that big ”.

The purchase of Hanyecz in 2010 was not the only transaction he took part in.

In 2018, Laszlo Hanyec bought two more pizzas thanks to the use of Bitcoin's Lightning network.

This time he only paid 649.000 Satoshi or 0,00649 Bitcoin, which means he paid almost $ 62 for both pizzas.

Hanyecz reported:

"I paid for bitcoins using a Lightning Network and organized the pizza delivery."

Some believe Hanyecz should have regretted the purchase in 2010, as spending 10.000 BTC on pizzas is not the best investment.

However, no one could have known for sure that Bitcoin would be so popular one day. Even, the founder certainly could not have known that Bitcoin would become the "gold" of cryptocurrencies.

Therefore, Hanyecz's position is absolutely understandable.

 

Buying Cryptocurrencies? Exchange Binance Binance

Jacqueline Facconti

Graduated in Business Economics and Strategy, Management & Control with 110 cum laude from the University of Pisa, editor and editorial collaborator for various blogs and Economic and Business sites

Similar posts

Leave a comment

Your email address will not be published.

Back to top button