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The Guy Who Spent $4.7 Billion on Pizza
In 2010 Laszlo Hanyecz spent around 100,000 bitcoin on pizza
Our world is going through a major transition that is very different from what we have seen or lived within history. The financial system seems to be receiving the much-needed update that our society wanted for quite a few decades now. Cryptocurrencies have taken the world by storm in the past year, but their presence has already passed the 10 year mark, with bitcoin being the first cryptocurrency to hit the scene in 2009.
The most regretted transaction of all time
Those who understood this new financial system at the time have now become the world’s new billionaires, whilst some wasted their crypto on food, just like Laszlo Hanyecz who spent nearly $4.7 billion on pizza alone in 2010. The amount was estimated based on the average price of bitcoin in 2021 which is $47,273 based on an analysis from Bloomberg.
Hanyecz was a program at the time that accepted to work for bitcoin. At the time bitcoin was trading at a price of $0.0008 per token, in other words, it was not even worth enough to be called change. Hanyecz managed to make quite a few hundreds of thousands, but most of them he had spent on other things, mainly on food.
