Today marks the 10th anniversary of Bitcoin's first official commercial purchase.
On May 22, 2010, programmer Laszlo Hanyecz completed the first documented commercial Bitcoin purchase, paying 10,000 for two Papa John's pizzas.
One might logically wonder what happened to the 10,000 Bitcoin used for the purchase of two pizzas.
Some BTC went to a now-defunct exchange, while some BTC remain in a highly-valued wallet.
Many Bitcoin went to BTC-e. "Some of the funds were seemingly liquidated on BTC-e," Blaisdell said.
A chunk of the BTC still sits in a highly valued wallet.
In tracing the pizza Bitcoin, Coinfirm found 5.79% of the original 10,000 BTC found its way to one of the most sizeable Bitcoin wallets currently in existence.
Totalling over $5 million, about 579 of the pizza BTC still occupy the 12th largest wallet in the Bitcoin space.
Whoever owns that address also accumulated Bitcoin from elsewhere, as the wallet now totals close to $500 million in Bitcoin, Blaisdell explained.
"We don't know who controls the address as it doesnt 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."
Where Are the Bitcoin Pizza Coins Now?
Published on May 22, 2020
by Cointele | Published on Coinage
Mentioned in this article
Bitpay Shuns Lightning and Liquid, Says Actual Bitcoin Payments Still Dominate
Pioneering crypto payments service Bitpay has revealed that Bitcoin still overwhelmingly dominates payments and that it has no plans to use second layer solutions like the Lightning or Liquid networks.
Bitcoin Price Rallies to $9.6K as Record CME BTC Contracts Expiry Looms
Bitcoin price continues to inch closer to $10,000, rallying 5.68% to reach $9,600 on May 28.
Devcon 6: 2020 is a Write-Off, Let's Try 2021 in Columbia
The Ethereum Foundation has postponed Devcon VI until 2021 and will host it in Bogota, Colombia.
CoinMarketCap Unveils Further Changes to Ranking System
Leading crypto data aggregator CoinMarketCap has introduced new metrics ranking exchanges and market pairings based on a number of factors that are intended to reduce the impact of fake volume on the platform's data.