On May 22, 2010, a developer bought two pizzas using 10,000 units of bitcoin.
Today, 10,000 bitcoins are worth a little more than 20 million dollars.
The value of bitcoin has increased exponentially. Each bitcoin is worth $2128 – it’s a little bit below its record value, reached Monday morning, May 22, 2017.
Last year, it was trading at $443 after falling at the end of 2013. Since then, it has continued to increase at the speed of light.
“The Japanese are interested in Bitcoin and this shows the inefficiencies of the market,” said Charles Hayter, the founder of the CryptoCompare analysis agency, in an email to Business Insider US.
“This irrational exuberance is beginning to spread as the Japanese fight among themselves to enter the market and drive prices up internationally.”
The virtual currency has come a long way since 2010, when a Papa John pizza lover thought he would proudly perform the first transaction “in the real world” with bitcoins.
He posted on the Bitcoin Talk forum on May 22, 2010:
“I’ll pay 10,000 bitcoins for a couple of pizzas, like two big pizzas, so I have some leftover for the next day, I like having pizza leftovers for later, you can even make the pizza yourself and bring it, or ask a delivery company, but what I would like is a food delivery in exchange for bitcoins. ”
“If you are interested, thank you for letting me know and tell me how we can work out.”
At the time, 10,000 bitcoins were worth about $ 40. A Briton agreed to buy pizzas in his place, for $25 both.
The date of May 22nd is remembered as the “Bitcoin Pizza Day” .
“It’s not like Bitcoins were valuable at the time,” Hanyecz told the New York Times in 2013. “So, the idea of exchanging for pizza was super cool. Nobody thought it was going to increase so much. “