As Bitcoin Pizza Day turns 15 years old, the blockchain analysis company Glassnode has revealed how coins from that time are still being moved.

The realized cap data of Bitcoin shows recent movements from over 10-year-old BTC.

Bitcoin has reached a new all-time high (ATH), but that is not the only thing that members of the cryptocurrency community are celebrating today. Back on May 22, 2010, Laszlo Hanyecz exchanged 10,000 BTC for two pizzas, perhaps the first example of an asset being used as a means of payment in a real-world purchase. Due to the importance of this event, this day has been commemorated as 'Bitcoin Pizza Day.'

The pizzas that Laszlo bought were worth about 40 dollars. Fifteen years later, the same amount of BTC is equivalent to 1.1 billion dollars. Below is a chart shared by the analysis company CryptoQuant showing what this figure looked like on each Bitcoin Pizza Day in history:

Of course, no one can predict how large Bitcoin will eventually become. But even if they could, transactions like this were probably necessary to bring the asset to its position today. As CryptoQuant stated, 'That's a high price, but that's the price to pay to make Bitcoin a means of payment.'

That said, while many like Laszlo will actively spend their BTC, some holders do not. It cannot be said for certain whether this is due to accident or a product of intentional HODLing, but a portion of the supply is now over ten years old, meaning the owners of those coins have not engaged in any transactions since then.

The analysis company Glassnode has shared data on the realized cap of this specific portion of the circulating Bitcoin supply.

Realized Cap essentially tells us about the total amount of capital that Bitcoin investors in general have used to purchase their coins. In the chart, the percentage of this metric held by coins over ten years old is displayed.

Last year, this value peaked at 0.045%. Today, this indicator is only at 0.033%, after a sharp decline from December to February and another decline since April 20. Based on the trend, Glassnode notes, '15 years after Laszlo bought pizza for 10,000 dollars worth of BTC – now valued at over 1.1 billion dollars – some coins from that era are still in motion.'

Such old coins are more likely to reach that age due to being lost rather than being accused of HODLing, so it is possible that the old Bitcoin being moved now has only recently been rediscovered, perhaps by the original investor or someone who happened to find a forgotten wallet key.