Tale of techie who bought two pizzas for 10000 Bitcoin, makes Bitcoin popular

Launched in 2009, Bitcoin was the first cryptocurrency and remains the most widely traded today.

It was created by Satoshi Nakamoto, a name believed to be a pseudonym for an individual or group, though their true identity remains unknown.

The Pizza That Made History

In 2010, Bitcoin was a groundbreaking but largely experimental digital currency, valued at just fractions of a cent.

Laszlo Hanyecz, a programmer and early Bitcoin advocate, made history by purchasing two Papa John’s pizzas for 10,000 Bitcoins.

At the time, the transaction was worth roughly $41. Today, those 10,000 Bitcoins are valued at hundreds of millions of dollars, illustrating the extraordinary rise in Bitcoin’s value over the past decade.

Far from regretting the transaction, Hanyecz is celebrated as a trailblazer who showcased Bitcoin’s practical use at a time when its future was highly uncertain.

This transaction marked a turning point for crypto commerce, showcasing the practical application of cryptocurrencies in everyday transactions.

The Evolution of Crypto Commerce

Since the groundbreaking pizza purchase, Bitcoin’s role in commerce has grown remarkably. Here’s a look at how crypto commerce has progressed over time:

After that initial transaction, early Bitcoin adopters began using the digital currency for a variety of goods and services. From funding software development to buying items on online forums, Bitcoin steadily established itself as a viable medium of exchange.

As of the latest check by NewsClick Nigeria on CoinGecko, one Bitcoin is valued at $102,175.