Bitcoin
A transaction worth a fortune for 2 pizzas, here’s everything
Bitcoin Pizza Day is celebrated every year to remember one of the most peculiar transactions ever recorded in the global crypto world. Notably, a man in the United States changed the world leader cryptocurrency for just two pizzas, a much appreciated purchase today.
The meteoric rise of Bitcoin and its widespread adoption in recent years has not only revolutionized the global trading landscape, but also elevated the digital asset to the status of a leading RWA (Real World Assets) like gold and silver. This global acceptance and recognition is a testament to Bitcoin’s potential and dominance.
Listed below is a brief report on the legendary history of Bitcoin, from its use to buy pizzas to its current status as one of the most sought-after investment options across the world.
Bitcoin Pizza Day: What’s new?
On May 22, 2010, a British man living in Florida, United States, stamped his name in history, buying two pizzas for a whopping 10,000 BTC. Laszlo Hanyecz, an early Bitcoin enthusiast, purchased two Papa John’s pizzas for the aforementioned number of BTC coins, worth around $41.
This transaction is highly appreciated today as 10,000 BTC would be worth a fortune to many in the current era. 1 Bitcoin today it is valued at around US$69,000, making 10,000 BTC worth hundreds of millions of US dollars.
Parth Chaturvedi, Head of Investments at CoinSwitch Ventures, added on this day: “Bitcoin Pizza Day is celebrated every year to mark the first “real-world commercial transaction” using Bitcoin as a means of payment. On May 22, 2010, a developer named Laszlo Hanyecz paid 10,000 BTC for 2 Papa John’s pizzas (which were worth about $41 at the time). To put that into perspective, at the current price of BTC, that would be close to $700 million for both pizzas. While in retrospect this may seem like the worst possible exchange, at the time this transaction was hailed by the nascent crypto community as a milestone in the adoption of crypto as an asset class. Fast forward to today, Bitcoin’s fixed supply schedule has given it the nickname “Digital Gold” and institutional giants are recommending it to their clients as an asset for portfolio diversification.”
Looking at today, paying 10,000 BTC for two pizzas is an unprecedented thought. Furthermore, Bitcoin has continued to grow over the years, making the transaction unforgettable with each passing year.
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Bitcoin price today
Bitcoin, the world’s first digital currency, is traded today at US$69,957, having fallen 1.49% in the last 24 hours.
The token’s all-time low is $0.04865, marking 143791042.87% in value to date. Considering that the ATH (historical maximum) reached by the token is US$73,750.
Meanwhile, it is also important to note that the increase in Bitcoin’s value is in line with the halving event held every four years, also held this year, which substantially helps the price and the token economy.
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