Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Bitcoin Hits $100K, Pizzas Now Worth $1 Billion!
Bitcoin | Dec 5, 2024
Image: Freepik
Bitcoin Passes Historic Milestone of $100,000
It finally happened. Bitcoin has crossed $100,000 for the first time ever. For those who’ve followed Bitcoin’s journey from its early days as “magic internet money” this is a historic moment that’s hard to believe.
On Truth Social platform, President-elect Donald Trump espoused '“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!”.
See: Bitcoin’s Evolving: The Rise of DeFi on Bitcoin
It’s a perfect time to look back at some of the wild stories that make Bitcoin’s history and value unique. And yes, we’re going to talk about those famous pizzas!
10,000 Bitcoin Pizzas Now Worth $1 Billion
Rewind back to May 22, 2010 which is now known as Bitcoin Pizza Day. A programmer named Laszlo Hanyecz made history by completing the first real-world Bitcoin transaction. He spent 10,000 BTC to buy two pizzas. At the time, those 10,000 bitcoins were worth around $40. Today? That same amount of Bitcoin would now worth a billion dollars. Yes, that's with a B. Laszlo had no regrets though and said it wasn’t about the pizzas but about proving Bitcoin could work as a currency. And he was right, as it ignited a movement that’s now changing global finance forever.
A couple of other examples of early Bitcoin payment stories:
One of the first merchants to accept 'magic internet money' was a farm selling alpaca wool socks. People bought them for about 5 BTC a pair. At today’s price that’s $500,000 socks. Crazy!
On January 9, 2014, Overstock.com was the first major retailer to accept Bitcoin as payment. In the first 22 hours they received over 800 orders worth $126,000 in Bitcoin increasing their daily revenue by 4.3%. The value now would be worth over $12.6 million, if they held onto that Bitcoin.
A Wild Ride to $100,000
These stories would be pretty painful if you were the one who spent that amount of Bitcoin on everyday purchases but it also shows how far crypto has come. Back in the day, Bitcoin was seen as a novelty, 'magic internet money' for a geeky experiment. Today Bitcoin is considered digital gold, a hedge against inflation, and a legitimate asset class.
See: Bitcoin’s 10 Commandments: Insights from Satoshi’s Emails
Whether you’re an early believer, a recent investor, or just curious, this is a moment to pause and appreciate the journey. Who knows? In another decade we might be looking back at $100,000 Bitcoin as “cheap.” Just don’t spend 10,000 BTC on it!
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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