Bitcoin and the $6,540,000 pizza (USD to BTC exchange rate as of July 8th)

in #craigrant • 8 years ago

I found a link to a bitcoin forum where a user was able to spend 10,000 bitcoin for some pizza in May 2010.
It's been said that this is the first time bitcoin was set at a specific exchange rate to fiat currency in order for it to be spent on something tangible.
https://bitcointalk.org/index.php?topic=137.0

The exchange rate at the time was $0.00250/1 BTC

At today's rate of about $654/1 BTC, that same pizza would cost $6,540,000 -
I think you can see now WHY people got into currency speculation!

Here's a webpage that has a list of USD to BTC exchange rates, tied to historically interesting events related to bitcoin:
https://bitcoinhelp.net/know/more/price-chart-history

Another article written about it a few years later:
http://motherboard.vice.com/blog/this-pizza-is-worth-750000

#bitcoin #pizza #exchange #rate
8 years ago in #craigrant by
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