Bitcoin Surges Past $111,800 on Pizza Day Anniversary
Bitcoin (BTC) reached a new all-time high of over $111,800 on Bitcoin Pizza Day, marking the anniversary of the first recorded commercial transaction using BTC. On May 22, 2010, Laszlo Hanyecz paid 10,000 BTC for two pizzas, valued at approximately $40 at the time.
Key points:
- The 10,000 BTC is now worth over $1.1 billion, enough to buy over 70 million pizzas.
- This transaction symbolized bitcoin's transition from digital code to a functional currency.
- Hanyecz, who mined BTC when it was under a penny, views the purchase as pivotal in legitimizing bitcoin.
- Today, BTC is used for various transactions beyond food, including property and cars.