Bitcoin has handed the $100,000 threshold for the primary time. At roughly 9:39PM ET this night, the cryptocurrency’s worth hit six figures, shifting it previous the milestone for the primary time in its practically 16-year historical past.
That additionally means the legendary Bitcoin pizza order is now price $1 billion. For these not within the loop, a Florida man — as a result of, after all it was a Florida man — paid 10,000 BTC for 2 Papa John’s pizzas over 14 years in the past in what’s thought-about the cryptocurrency’s first business transaction.
“I’ll pay 10,000 bitcoins for a few pizzas … like possibly 2 giant ones so I’ve some left over for the subsequent day,” Laszlo Hanyecz posted in a crypto discussion board on Could 18, 2010. 4 days later, a British man took him up on the provide. That quantity was solely price $45 on the time. (And the UK man solely paid Papa John’s $25!) However solely 9 months later, the transaction’s worth had skyrocketed to $10,000.
Hanyecz informed The New York Occasions in 2013 that he had no regrets concerning the then-$6 million pizza order. “It wasn’t like Bitcoins had any worth again then, so the thought of buying and selling them for a pizza was extremely cool,” he stated. “Nobody knew it was going to get so huge.”
I’m wondering if Florida Man has any regrets now that his price for these two Papa John’s pizzas is price a billion {dollars}.
Taking a look at it one other approach, Papa John’s present market cap is $1.567 billion. So, had Hanyecz saved his crypto as a substitute of ordering these two pizzas, he may have purchased practically two-thirds of the corporate that baked his pie immediately.
Then, there’s the story of a author who, in 2017, helped a pal get better (on the time) $200,000 price of Bitcoin from a damaged laptop computer. These 40 Bitcoins caught in a MultiBit pockets for three-and-a-half years are price greater than $4 million immediately (as long as the cryptocurrency stays above the $100,000 mark).
