Insights

The pizza bought with Bitcoin 13 years ago would have cost $365M today

exchange68September 13, 2024

0 1 1 minute read

Quick Take

On this day 13 years ago, the first real-world Bitcoin payment was sent by a programmer buying pizza in exchange for 10,000 coins.
With around 2,854,700 Bitcoin in circulation at that time, this set Bitcoin’s total market cap at around 571 large pizzas.
The price of one Bitcoin back on May 22, 2010, was 0.44 cents.
Today, that pizza is worth over $265 million.
However, adjusted for inflation at an average rate of 2.5% per year, the pizza’s cost is roughly $365 million.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.