To put it into perspective, the infamous Bitcoin pizza order is worth one billion dollars.
For the very first time, Bitcoin has surpassed the threshold established at $100,000. This evening, at roughly 9:39 p.m. Eastern Time, the value of the cryptocurrency reached six figures, marking the first time in its nearly sixteen-year history that it has surpassed the achievement of this milestone.
Additionally, this indicates that the infamous Bitcoin pizza order is now worth one billion dollars. For the benefit of those who are not aware, a Florida man, since, of course, it was a Florida man, paid 10,000 BTC for two pizzas from Papa John’s more than 14 years ago. This transaction is believed to be the first commercial transaction with the cryptocurrency.
In an online forum devoted to cryptocurrencies, Laszlo Hanyecz made the following statement on May 18, 2010: “I’ll pay 10,000 bitcoins for a couple of pizzas… like maybe two large ones so that I have some left over for the next day.” After a period of four days, a man from the United Kingdom accepted the offer. The value of that sum was merely forty-five dollars at the time. And the man from the United Kingdom only paid Papa John’s $25! However, the value of the deal had soared to $10,000 just nine months after it had been completed.
In 2013, Hanyecz stated to The New York Times that he did not have any remorse over the pizza order that was at the time worth $6 million. He stated, “Back then, Bitcoins didn’t have any value, so the idea of exchanging them for a pizza was incredibly cool.” Back then, Bitcoins didn’t have any worth. Nobody was aware that it was going to become so extensive.
After learning that the price he paid for those two pizzas from Papa John’s is worth a billion dollars, I can’t help but wonder if Florida Man has any regrets.
When viewed from a different perspective, the current market capitalization of Papa John’s is $1.567 billion. Therefore, if Hanyecz had chosen to save his cryptocurrency rather than order those two pizzas, he would have been able to purchase roughly two-thirds of the business that was responsible for baking his pie today.
Then there is the tale of a writer who, in 2017, assisted a buddy in recovering Bitcoin worth $200,000 from a broken laptop. The friend was trying to retrieve the Bitcoin at the time. Those forty Bitcoins that have been stored in a MultiBit wallet for three and a half years are currently worth more than four million dollars (provided that the value of the cryptocurrency continue to be greater than one hundred thousand dollars).