“I just want to report that I successfully traded 10,000 bitcoins for pizza.”
—Laszlo Hanyecz, May 22, 2010 on the bitcointalk.org forum thread “Pizza for bitcoins?”
On May 22, 2010, developer Laszlo Hanyecz made history by paying 10,000 BTC for two Papa John’s pizzas. At the time, 1 BTC was worth less than a penny.
Today, those pizzas are worth millions—making them the most expensive pizzas ever bought.
Since Bitcoin’s current price is: $Loading…
🍕 The 10,000 BTC pizzas are now worth: $Loading…
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How is it possible that these pizzas are worth so much today?
Because Bitcoin imposes a free market where prices fall to the marginal cost of production.
This massive paradigm shift changes our time horizon, invites us to save, and leads to a whole other world I explore in Beyond Money 🙂
While Laszlo’s purchase will probably remain the most famously expensive pizza, prices will continue to fall in Bitcoin terms making our past purchases seem expensive in the future.