U.Today – As the crypto community around the world celebrates BTC Pizza Day, it is not just the historic pizza purchase that is drawing attention, but also the meteoric price growth that has been achieved over the years. years.
Bitcoin Pizza Day commemorates the first time Bitcoin was used for a real-world transaction. On May 22, 2010, Laszlo Hanyecz, a programmer and early Bitcoin enthusiast, made history by purchasing two pizzas for 10,000 BTC. At the time, the transaction was valued at around $41. Today, those 10,000 BTC would be worth almost $700 million, highlighting the spectacular rise in Bitcoin's value over the past 14 years.
The rise in Bitcoin price from its inception to the present is nothing short of astonishing. When Hanyecz made his now famous purchase, Bitcoin was virtually unknown and traded for less than a cent.
In 2014, Bitcoin had already seen substantial growth, trading at around $400. Today, Bitcoin has not only achieved widespread recognition but has also established itself as a legitimate asset class with a market capitalization of over $1.38 trillion.
Gabor Gurbacs, former head of digital asset strategy at VanEck, highlights Bitcoin's meteoric rise of over 17,400% in the last 10 years as the Bitcoin Pizza Day celebration begins.
“10 years ago, Bitcoin was trading around $400 per BTC, today it is trading around $70,000, which is a 17,400% increase,” Gurbacs wrote in an X post. At the time of writing, BTC was trading at $70,133 , having reached a record high of $73,750 in mid-March.
Over the past decade, Bitcoin has not only survived but thrived, experiencing accelerated growth rarely seen in the financial world.
Celebrating BTC Pizza Day is not just about remembering pizzas purchased with Bitcoins; It is a day that highlights Bitcoin's incredible value appreciation journey.
In commemoration of the historic event, cryptocurrency platforms and exchanges posted celebratory messages on social media, in addition to promoting cryptocurrency campaigns and giveaways in recognition of Bitcoin's evolution.
This article was originally published on U.Today.
