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Two Pizzas For Rs 3,635 Crores! Man Paid 10,000 Bitcoins For His Cravings

Hanyecz sought to fulfil his pizza craving and offered 10,000 Bitcoin on Bitcointalk.org in exchange for two large pizzas.

Edited By : Saurav Gupta | Updated: Jan 6, 2024 15:40 IST
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Man Paid 10,000 Bitcoins For His Cravings
Man Paid 10,000 Bitcoins For His Cravings

In the early days of Bitcoin, Laszlo Hanyecz, a programmer, initiated a groundbreaking transaction, exchanging 10,000 Bitcoin for two pizzas on May 22, 2010, marking the first real-world purchase using cryptocurrency.

The Quest for Pizza:

Days earlier, Hanyecz sought to fulfil his pizza craving and offered 10,000 Bitcoin on Bitcointalk.org in exchange for two large pizzas, facing initial difficulty in finding a taker for the offer.

A Teen’s Decision:

Jeremy Sturdivant, a 19-year-old, stepped forward and accepted the deal, exchanging the Bitcoin, then valued at around $41, for the pizzas and delivering them to Hanyecz’s residence in Florida.

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A Priceless Moment Shared:

Hanyecz joyously shared news of the successful transaction on the forum, posting a snapshot of the pizzas with his family, unaware of the magnitude his action would hold in the cryptocurrency world.

Reflections of Regret:

Years later, Hanyecz reflects with regret, realizing that if he had retained those Bitcoins, their value today would stand at a staggering Rs 36,35,46,19,950.00, showcasing the missed opportunity.

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Bitcoin’s Meteoric Rise:

At Bitcoin’s peak, those initial 10,000 Bitcoins reached a staggering value of Rs 51,75,00,00,000, highlighting the remarkable growth of the cryptocurrency over time.

Lessons from the Past:

The historic pizza transaction underscores the volatility of cryptocurrencies and fuels the argument against their efficacy as a stable medium of exchange, offering insight into the unpredictable nature of dynamic digital currencies like Bitcoin.

First published on: Jan 06, 2024 03:40 PM IST

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