One coffee! Pizza exchanging Bitcoins? Almost changed fate!
In 2010, a programmer named Laszlo Hanyecz spent about 10,000 Bitcoins on two pizzas, which became a legendary transaction in the cryptocurrency market.
Hanyecz didn't actually pay directly for the pizzas at the pizzeria with Bitcoins. Instead, what happened was that he paid another user 10,000 Bitcoins, and then that user bought him pizzas with regular money.
Currently, 2 pizzas (based on Friday's price) cost about $1.33 million. Then the same user even continued to further reduce the cost: “Assuming a basic pizza costs $3.75 million, I calculated that each of those little ones costs $5.6 million.” Some pizza toppings are huge amounts, such as cheese, green peppers, black olives, and mushrooms!
Although certainly, wealth is a missed opportunity, Laszlo does not regret his purchase. His transaction actually established the real value of Bitcoin, which previously had no clear value. Today, May 22, is celebrated as “Bitcoin Pizza Day” by people in the cryptocurrency community around the world.
Lessons for investors
The story of Bitcoin Pizza will certainly teach us valuable lessons about early adoption, security risks, and maintaining market perspective. Although not many people will experience such huge returns on investment, today’s cryptocurrency market offers more available opportunities and secure infrastructure than back then.
