Currently, Bitcoin price has broken through $110,000, reaching a historic high. On May 22nd, coinciding with the annual "Pizza Day", this spontaneously formed cryptocurrency community memorial day once again draws attention to that moment 15 years ago that rewrote history - a pizza worth $1.1 billion.
1. The Starting Point of a Value Enlightenment
In 2010, the Bitcoin network was still in its "primitive society" stage, with network computing power less than a trillionth of today's, exchanges had not yet been born, and holders were mostly geeks and technology enthusiasts. When Laszlo posted on the forum proposing to "exchange Bitcoin for pizza", the "value anchoring" of cryptocurrency was still a blank slate.
On May 22, 2010, American programmer Laszlo Hanyecz purchased two Papa John's pizzas with 10,000 Bitcoins, marking the first time Bitcoin was used as a payment method in the real world. At the time, these 10,000 Bitcoins were worth about $41, with an average price of $0.0041 per Bitcoin.
15 years later, calculated at Bitcoin's price of over $100,000, those two pizzas are now worth an astonishing $1 billion. This number is not only a milestone in Bitcoin's early development but also reveals the epic leap of cryptocurrency from marginal experiment to global asset.
2. Bitcoin's Price Curve Over the Past 15 Years
From $0.0041 to $110,000 fifteen years later, by combing through Bitcoin prices on May 22nd each year according to bitsCrunch.com data, we can clearly capture key cycles and driving logic in its development trajectory. Below is Bitcoin's price performance on Pizza Day over the years.
Data Source: bitsCrunch.com
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