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By Rob Wile
May 22, 2017
Image by Catherine MacBride—Getty Images

Monday marked the 7th anniversary of what is widely believed to be the first real-world transaction involving Bitcoin, when one web user swapped 10,000 units of the virtual currency (then worth $0.003 apiece) for two pizzas.

“I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day,” a Bitcointalk.org user known as “laszlo” wrote at the forum on May 18, 2010. “I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy!”

Four days later, “laszlo” reported he’d successfully completed the transaction, after another participant in the forum (username “jercos”) agreed to provide two pizzas for 10,000 Bitcoins.

It’s pretty clear who got the better end of the bargain. Today, 10,000 Bitcoins are worth $21.7 million. The value of the cryptocurrency has surged in recent months, and on Monday hit a new record high of $2,172.

Put differently, according to CNBC, if you’d bought $100 worth of Bitcoin seven years ago and held onto it, you’d now have about $73 million.

Prices have doubled just in the past month and a half, driven mostly by increased interest among traders and investors.

“In the last month, exchanges – namely Kraken and Poloniex – have announced that they were experiencing a sharp increase in transactions,” said Charles Bovaird, lead markets writer for the Bitcoin-tracking site CoinDesk. “The entire cryptocurrency space has been attracting significant investor interest, with the value of these assets nearing $80 billion today. This represents a roughly 200% increase over the last month.”

Coindesk also reports that there has been a surge in Japanese transactions.

“The Japanese yen is the single largest currency being exchanged for bitcoin, accounting for more than 45% of the money flow into bitcoin at the time of report, according to CryptoCompare data,” the site reported.

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Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

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