This Is What A $2.3 Million Pizza Looks Like; Jacksonville resident Laszlo Hanyecz purchased a pizza 3 years ago for 10,000 Bitcoin, or $25, now worth $2.3 million

April 10, 2013 Leave a comment

This Is What A $2.3 Million Pizza Looks Like

Rob Wile | Apr. 9, 2013, 2:07 PM | 14,765 | 9

The price of a Bitcoin now stands at $234. That is really, really high. Especially given that just three years ago, Bitcoins were worth one-quarter of one cent. It was at this price when, according to Internet lore, Jacksonville resident Laszlo Hanyecz purchased a pizza for 10,000 BTC, or $25. Vice’s Brian Merchant actually had this story several days ago. But the pizza was then only worth $750,000. Here’s Hanyecz’ original post, from Bitcointalk.org:

I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day.  I like having left over pizza to nibble on later.  You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy! 
I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that.  I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire. If you’re interested please let me know and we can work out a deal.

Thanks,
Laszlo

As user The_egg_came_first points out on Reddit, that pizza has now cost the original purchaser over $2 million at today’s prices. At the time, Hanyecz updated a series of photos proving the purchase — here’s one:

img0984small

Mike Lazlo

This episode is a big lesson and a big cautionary tale: Anyone transacting in Bitcoin is liable to feel like an idiot the next day, as the price surges or collapses. Hence it makes more sense to just speculate, and not do anything real.

Filed under Life

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a Reply

Fill in your details below or click an icon to log in:

Gravatar
WordPress.com Logo

You are commenting using your WordPress.com account. ( Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. ( Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. ( Log Out /  Change )

Cancel

Connecting to %s

%d bloggers like this: