The two Papa John's pizzas ordered by programmer Laszlo Hanyecz in 2010 for 10,000 BTC have become one of the famous events that left a mark in the history of the cryptocurrency world. At the current market, they worth over 980 million USD. Compared to the all-time high on November 22, the two pizzas can be converted to about 1 billion USD (25,000 trillion VND).
However, the condition for this to happen is that the American programmer kept those 10,000 BTC in his wallet for the past 14 years. This is unlikely when the digital currency has experienced many waves of price increases. Few people hold onto Bitcoin for that long, unless they lose their USB drive or forget their wallet password.
In an interview in 2019 on the CBS 60 Minutes program, Hanyecz recounted the first real estate transaction conducted with digital currency. "I posted on the forum with a message like 'If anyone is interested, I will pay 10,000 BTC for a pizza.' Then someone accepted the offer. So I sent him 10,000 Bitcoin. Then he paid with a credit card, and two pizzas were sent to my house," the programmer recalled.
Hanyecz's 'wasteful' act has become a persistent meme in the cryptocurrency community, especially after each cycle of coin growth, as the price rises exponentially.
"It is impossible to imagine Bitcoin being so valuable. So the idea of exchanging them for a pizza was quite appealing," Laszlo told the New York Times in 2013.
The famous deal mentioned above took place on May 22, 2010. The Bitcoin community later dubbed it "Pizza Day" and commemorates it every year.
On May 22, 2016, the 10,000 BTC that Hanyecz spent were valued at around 4.4 million USD. When he bought two pizzas, they were only equivalent to 41 USD.
Just two years later, on Pizza Day 2018, the mentioned digital money surged to 41 million USD, 10 times the amount in 2016, and 10 million times the amount in 2010.
Bitcoin is the first digital currency, still holding the highest position in the industry, despite the emergence of other blockchains, richer in technology or more optimized. Its original applications, as designed by Satoshi Nakamoto, are no longer practical. However, BTC is considered as the "gold" in the cryptocurrency world, with limited quantity and value for storage.
The total supply of Bitcoin is 21 million dong. However, according to a report by Unchained Capital, about 3.8 million of these are classified as lost, leading to a scarcity of supply.
In addition, using BTC to purchase real assets is also banned in most countries. It is only available in El Salvador, the South American country that legalized Bitcoin in 2021.
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Two Pizzas Bought with Bitcoin Now Worth 1 Billion USD
The two Papa John's pizzas ordered by programmer Laszlo Hanyecz in 2010 for 10,000 BTC have become one of the famous events that left a mark in the history of the cryptocurrency world. At the current market, they worth over 980 million USD. Compared to the all-time high on November 22, the two pizzas can be converted to about 1 billion USD (25,000 trillion VND). However, the condition for this to happen is that the American programmer kept those 10,000 BTC in his wallet for the past 14 years. This is unlikely when the digital currency has experienced many waves of price increases. Few people hold onto Bitcoin for that long, unless they lose their USB drive or forget their wallet password.
In an interview in 2019 on the CBS 60 Minutes program, Hanyecz recounted the first real estate transaction conducted with digital currency. "I posted on the forum with a message like 'If anyone is interested, I will pay 10,000 BTC for a pizza.' Then someone accepted the offer. So I sent him 10,000 Bitcoin. Then he paid with a credit card, and two pizzas were sent to my house," the programmer recalled. Hanyecz's 'wasteful' act has become a persistent meme in the cryptocurrency community, especially after each cycle of coin growth, as the price rises exponentially. "It is impossible to imagine Bitcoin being so valuable. So the idea of exchanging them for a pizza was quite appealing," Laszlo told the New York Times in 2013. The famous deal mentioned above took place on May 22, 2010. The Bitcoin community later dubbed it "Pizza Day" and commemorates it every year. On May 22, 2016, the 10,000 BTC that Hanyecz spent were valued at around 4.4 million USD. When he bought two pizzas, they were only equivalent to 41 USD. Just two years later, on Pizza Day 2018, the mentioned digital money surged to 41 million USD, 10 times the amount in 2016, and 10 million times the amount in 2010. Bitcoin is the first digital currency, still holding the highest position in the industry, despite the emergence of other blockchains, richer in technology or more optimized. Its original applications, as designed by Satoshi Nakamoto, are no longer practical. However, BTC is considered as the "gold" in the cryptocurrency world, with limited quantity and value for storage. The total supply of Bitcoin is 21 million dong. However, according to a report by Unchained Capital, about 3.8 million of these are classified as lost, leading to a scarcity of supply. In addition, using BTC to purchase real assets is also banned in most countries. It is only available in El Salvador, the South American country that legalized Bitcoin in 2021.