2024-12-05 05:29:18| Engadget
Bitcoin has passed the $100,000 threshold for the first time. At approximately 9:39PM ET this evening, the cryptocurrencys value hit six figures, moving it past the milestone for the first time in its nearly 16-year history.
That also means the legendary Bitcoin pizza order is now worth $1 billion. For those not in the loop, a Florida man because, of course it was a Florida man paid 10,000 BTC for two Papa Johns pizzas over 14 years ago in whats considered the cryptocurrencys first commercial transaction.
Ill pay 10,000 bitcoins for a couple of pizzas like maybe 2 large ones so I have some left over for the next day, Laszlo Hanyecz posted in a crypto forum on May 18, 2010. Four days later, a British man took him up on the offer. That amount was only worth $45 at the time. (And the UK man only paid Papa Johns $25!) But only nine months later, the transactions value had skyrocketed to $10,000.
Hanyecz told The New York Times in 2013 that he had no regrets about the then-$6 million pizza order. It wasnt like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool, he said. No one knew it was going to get so big.
I wonder if Florida Man has any regrets now that his fee for those two Papa Johns pizzas is worth a billion dollars.
Looking at it another way, Papa Johns current market cap is $1.567 billion. So, had Hanyecz saved his crypto instead of ordering those two pizzas, he could have bought nearly two-thirds of the company that baked his pie today.
Then, theres the story of a writer who, in 2017, helped a friend recover (at the time) $200,000 worth of Bitcoin from a broken laptop. Those 40 Bitcoins stuck in a MultiBit wallet for three-and-a-half years are worth more than $4 million today (so long as the cryptocurrency stays above the $100,000 mark).This article originally appeared on Engadget at https://www.engadget.com/computing/bitcoin-breaks-the-100000-barrier-for-the-first-time-042918312.html?src=rss
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