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 2 Papa John’s pizzas. Valued at $41 at the time, current market pricing today gives the purchase a $92. 5 million price tag.
One might logically wonder what happened to the 10, 000 Bitcoin ( BTC ) useful for the purchase of two pizzas.
“Over the years the funds have moved across many addresses, ” Grant Blaisdell, co-founder and CMO of blockchain analytics company Coinfirm, told Cointelegraph in an email. 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. Launched in 2011, the BTC-e crypto exchange fell in 2017 when authorities apprehended exchange brass on money laundering claims.
A chunk of the BTC still sits in an extremely valued wallet
In tracing the pizza Bitcoin, Coinfirm found 5. 79% of the first 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 cheesy bread BTC still occupy the twelfth largest wallet in the Bitcoin spot.
Whoever owns that address but also accumulated Bitcoin from elsewhere, the wallet now totals close to 500 usd million in Bitcoin, Blaisdell revealed. “It’s potentially someone known not to mention active early on in the bitcoin outdoors, ” he concluded, adding:
“We don’t know world health organization controls the address as it will not seem to be tied to or owned by a commercial entity such as an give eachother or wallet. The fact that anyone is unknown is kind of sensational in a mysterious Satoshi kind of approach. ”
May 23, 2020 was an eventful hickey as pizza day yielded very a few crypto headlines, including BitFlyer sending pizza to folks found in need, as well as Andreas Antonopoulos stirring up other early Bitcoin shopping events .
In-text images courtesy of Coinfirm.