$90 Million Bitcoin Pizza Story Has an Startling Silver Lining

By stvleong | Steven Leong | 23 May 2020

Having recently paid 10,000 Bitcoin for two Dad John's Pizza for software engineer Laszlo Hanyecz, in an exchange that was readily available in Bitcoin Conversation.


At the time, the deal was widely laughed at — who would want some useless internet coins worth $30-40 in aggregate for two steaming hot pies? But, as we know, it was the world's first real-world object Bitcoin transaction ever.

Since then, 22nd May was named "Bitcoin Pizza Day" which annually celebrates cryptocurrency investors buying pizza.

Laszlo's transaction was considered so important that famous crypto analyst Mati Greenspan claimed BTC wouldn't be where it is today without that one transaction.    And there's an unfortunate aspect of this transaction: the programmer once  owned 10,000 Bitcoin, and what could have been with that money.   The founder of Coin Metrics backed this data by looking at blockchain details, which shows the pizza transaction is in line with the complexity of the Bitcoin network movement and the communications with Satoshi. That is to say, Laszlo made these transactions to distribute BTC to the society, rather than to keep for himself his 'ungotten' gains. 8e26ffd9b4454f604971b0b4d2ec4e744e01ac71e3a73b4f6a3660bb7b3ced9f.png

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Steven Leong
Steven Leong

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