Bitcoin News

10 Years Later, We Go In Search Of The Bitcoin Pizza Coins

The past few days have given lots of people the opportunity to reminisce about the journey bitcoin has made in the last 10 years. May 22, 2010, marked an iconic day in Bitcoin history. The day marked the first time Bitcoin was used for a commercial purchase. The person behind the purchase was coder, Laszlo Hanyecz, who paid 10,000 BTC for two Papa John’s pizzas. Ironically 10,000 BTC was valued at approximately $41 back in 2010 and more than $92.5 million in 2020. 

Which such a considerable value now, it is appropriate that we track down the 10,000 used for buying those pizzas, and see where they are right now. 

“In the past few years, the funds have moved from several addresses,” Grant Blaisdell, co-founder and CMO of blockchain analytics company Coinfirm said. “Some of the bitcoin went to a now-defunct exchange, while others remain in a highly secured wallet.”

Lots Of Bitcoin Found Their Way To BTC-E

“A good number of the funds found its way to BTC-e,” Blaisdell mentioned. BTC-e crypto exchange was launched in 2011; however, the exchange met its demise in 2017, when authorities closed it down because of several money laundering claims.     

Some Of The BTC Is In Highly Secured Wallet 

When we decided to trace the Pizza Bitcoin, we found out that around 5.79% of the original 10,000 BTC was in highly secured Bitcoin wallets. This brings the total equivalent to $5 million. Around 579 of the pizza, BTC is sitting in the 12th largest wallet in the Bitcoin space. 

The owner of the address has ventured into other Bitcoin transactions, according to Blaisdell. The owner has accumulated Bitcoin from various sources, as the wallet now has around $500 million in Bitcoin. “It’s potentially someone known and active early on in the bitcoin space,” he said. “We don’t know who controls the address as it doesn’t seem to be tied to or owned by a commercial entity such as an exchange or wallet. The fact that the person is unknown is kind of cool in a mysterious Satoshi kind of way.”

Bitcoin pizza day in 2020 was a highly eventful day, with several people reminiscing on the progress Bitcoin has made in the past ten years. 


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