Chapter 653 - Bitcoin

Since the value of Bitcoins has once again increased, it's a perfect opportunity to remind everyone of the Bitcoin Pizza Guy. The man by the name of Lazlo Hanyecz who basically gave cryptocurrency a worth. Originally, he was a believer that cryptocurrency would eventually be worth something so he got into Bitcoin.

But there was a problem, Bitcoins were basically worthless and nobody had ever purchased anything with them.

That's why he decided to post on a Bitcoin forum his offer of 10,000 Bitcoins (worth around 40$ at that point) for two pizzas. Basically just for the bragging rights of having bought something with a cryptocurrency. The story of that transaction gradually spread and eventually went viral.

People noticed that Bitcoins actually had purchasing power so they decided to invest. The increase of investors would in turn lead to an increase in potency value and so more people invested and the value of bitcoins skyrocketed.

Those 10k Bitcoins would easily be worth 150$ million today. That's however a very conservative estimate due to how much their value fluctuates. On the 24th of November they were worth over 19k a piece but on the 26th they were only worth slightly over 17k. A difference of 20$ million if you're working with 10k Bitcoins.

That's why there's also the hard question of when to cash out.

May 22 the Bitcoin Pizza Day