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$

BTC $97,672 -1.19% ETH $3,401 +2.10% BNB $653 +3.34% SOL $255 -0.54% XRP $1.48
+0.59% TON $6.34 +13.97%
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Vince Quill
1 hour ago


THE TWO PAPA JOHN'S PIZZAS ORDERED IN 2010 NOW CLOSE TO $1B MISTAKE

The infamous 10,000 BTC mistake is often used by Bitcoin maximalists to extoll
the virtues of 'hodling' the supply-capped asset.

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The two Papa John's pizzas ordered by programmer Laszlo Hanyecz in 2010 for
10,000 Bitcoin BTC $97,672 have become infamous in the crypto world. At current
market prices, those two pizzas cost Laszlo more than $978 million.

In a 2019 interview with CBS' 60 Minutes, Hanyecz recounted the event — widely
regarded as the first commercial Bitcoin transaction in history:

> "I Just posted on the Forum. I said, 'You know, if anybody's interested, I'm
> offering 10,000 Bitcoin in exchange for some pizza.' Somebody there said,
> 'Hey, I'll take you up on that offer,' so I sent him the 10,000 Bitcoin. He
> paid with his credit card, and the pizza showed up at my door."

Hanyecz's costly mistake has become a perennial meme in the crypto community as
the price of Bitcoin continues to rise each cycle — often growing by an order of
magnitude or more each time.

Related: Bitcoin 'wild' odds see 85% chance of BTC price above $100K by New Year


THE RISING COSTS OF 'PIZZA DAY'

The infamous Papa John's purchase, which occurred on May 22, 2010, is widely
known as 'Pizza Day' to the Bitcoin community.

On May 22, 2016, the 10,000 BTC spent by Hanyecz for the pizzas, which only
amounted to $41 in 2010, was valued at approximately $4.4 million.

Two years later, on Pizza Day 2018, the total value of the 10,000 BTC surged to
roughly $41 million — a gain of approximately 10 times since 2016.

In 2020, the price of Bitcoin reached new heights and the 10,000 BTC carried an
opportunity cost of over $80 million. Pizza Day 2022 saw that opportunity cost
grow by an order of magnitude to over $300 million.

The bear market of 2023 was the first time this trend reversed, with the total
value of the 10,000 BTC falling to around $268 million at that time.

Industry executives and analysts are currently forecasting a $180,000 Bitcoin
price target by 2025, which may bring the opportunity cost of the 10,000 BTC
close to $2 billion around Pizza Day 2025.

Magazine: Bitcoin’s $100K push wakes taxman, Vitalik visits real Moo Deng: Asia
Express

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 * #Bitcoin
 * #Pizza
 * #Bitcoin Price
 * #Bitcoin Pizza Day


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