In May 2010, a Florida-based programmer named Laszlo Hanyecz made what would become one of the most famous purchases in crypto history. He spent 10,000 Bitcoin on two Papa John’s pizzas.
At the time, Bitcoin was trading at just $0.004 per coin, putting the total cost of the meal at a modest $41.
Today, that amount of Bitcoin would be valued at over $1.1 billion, following BTC’s recent surge to a new all-time high of over $111,000.
In hindsight, what began as a modest transaction has become the world’s most expensive pizza order.
In perspective, the Bitcoin Hanyecz spent in 2010 could now purchase more than 53 million pizzas, considering each pizza box costs around $20.
Though many now consider Hanyecz’s purchase an expensive lesson, it laid the foundation for Bitcoin’s future as a viable payment system.
Industry players believe that Hanyecz’s transaction marked the first time Bitcoin was used to pay for a real-world product.
His transaction shifted Bitcoin from a speculative concept to a usable currency, showing that peer-to-peer digital payments were not only possible but practical.
The post Laszlo Hanyecz’s $41 historic Bitcoin pizza purchase now valued at $1.1 billion appeared first on CryptoSlate.
