The bitcoin Phenomenon

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No one is sure what the future holds for Bitcoin. Some people see ‘Bitcoin prices going to the Moon’ (Wendy McEleroy, author of The Satoshi Revolution), whilst others aren’t convinced. Some, like Jordan Belfort, go so far as to call Bitcoin ‘the biggest scam ever, such a huge, gigantic scam that’s going to blow up in so many people’s faces.’

Regardless of what happens, the number of Bitcoin in circulation can never exceed 21 million. No one can really know what will happen to Bitcoin in the future; however, there is no doubt that it has come a long way since being used to purchase two Papa John’s Pizzas.

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Hardly a day goes by without some mention of Bitcoin in the news. However, the obsession began in 2010 when Laszlo Hanyecz bought two Papa John’s pizzas (equivalent to $25) for 10,000 Bitcoin. This was the first ever purchase in cryptocurrency history. May 22nd is now ‘Bitcoin Pizza Day’ in celebration of the event, and is used as a milestone to track Bitcoin’s growth.

Nowadays, 10,000 Bitcoin is worth well over $100,000,000 and many reputable companies are willing to accept it as a form of payment. So, how many pizzas could you buy with 10,000 Bitcoin today?

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