On May 22, 2010, a man bought two pizzas for 10,000 bitcoins. At the time, the pizzas were worth about $41.
Today, those 10,000 bitcoins are worth more than $75 million.
The story of the Bitcoin pizza is a reminder of how far the cryptocurrency has come in just a few short years. In 2010, when Laszlo Hanyecz made his famous pizza purchase, Bitcoin was still in its infancy.
The first block on the Bitcoin blockchain was mined just a year earlier, in 2009. And at the time of the pizza purchase, there were only about 12 million bitcoins in circulation.
Today, there are more than 16 million bitcoins in circulation, with a total value of more than $1 billion. The Bitcoin network is now processing more than 200,000 transactions per day.
NOTE: This warning note is to caution readers about the risks associated with investing in Bitcoin.
Investing in Bitcoin and other cryptocurrencies can be extremely risky, and the value of these investments can fluctuate quickly. The price of Bitcoin can be highly volatile, and investors should always consider their own financial circumstances before making an investment decision. Additionally, it is important to understand that there is no guarantee of future returns or profits when investing in Bitcoin, so any investment should only be made after careful consideration and with a full understanding of the potential risks. Finally, it is important to remember that the current value of a “Bitcoin Pizza” does not indicate what the future value may be.
And the price of a single bitcoin has soared from less than $1 in 2010 to more than $4,000 today.
So what does all this mean for the value of the famous Bitcoin pizza?
In short, it’s worth a lot more today than it was eight years ago.
At the current price of $4,000 per bitcoin, the 10,000 bitcoins used to buy the pizza would be worth more than $40 million. That’s an increase of nearly 1,000% since 2010.
And if Bitcoin continues to rise at its current pace, the pizzas could one day be worth more than $1 billion.
Of course, it’s impossible to say for sure where the price of Bitcoin will go in the future. But one thing is certain: The story of the Bitcoin pizza is a reminder of how far this incredible cryptocurrency has come— and how much its future could hold.
9 Related Question Answers Found
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto in 2009.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
A Bitcoin bit is worth a lot more than you might think. While there are only 21 million bitcoins in existence, each one is divisible into 100 million smaller units, called satoshis. So, while there are only a limited number of bitcoins in circulation, each one is still worth a considerable amount.
Bitcoin Gold is a fork of the Bitcoin blockchain that occurred on October 24, 2017. The new blockchain created a new cryptocurrency, Bitcoin Gold (BTG), that can be mined with GPUs. BTG is currently worth $174.62 USD.
As of September 2019, the price of one Bitcoin Vault (BTCV) is $181.31. This makes it the 12th most valuable cryptocurrency in the world and gives it a market capitalization of $2,979,647,200. BTCV is a fork of Bitcoin that focuses on security and immutability.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
When it comes to Bitcoin, there is no such thing as an official price. This is because the cryptocurrency is not regulated by any government or financial institution. Instead, its price is determined by the supply and demand of the market.
