The $11 Million Dollar Pizza
On May 22, 2010, a programmer and bitcoin enthusiast purchased two Papa Johns pizzas for 10,000 BTC — which at the time was equivalent to about $25. If those pizzas were purchased at this very moment, with the same amount of bitcoin, they would be worth $2,246,200. At bitcoins most valuable point in December 2013, the pizzas would’ve been worth $11,470,000.
The man who made the infamous transaction, Laszlo Hanyecz, said that,
“It wasn’t like bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool, no one knew it was going to get so big.”
It’s funny to think of bitcoin as something that once seemed like an irrelevant online currency. Yet, the picture today is vastly different. Worldwide, there are more than 70,000 merchants accepting the currency, with transactions now averaging over 57,000 per day. Innovation is a strange beast, many times people will discount ideas and businesses that don't make sense to them, but the people that stick with those ideas and businesses and refuse to give up are the ones that turn a few pizzas into millions of dollars.