bitcoin

Bubble, boom, or both: Bitcoin hits dizzying new highs

BY Joseph Rachman | tweet rachman_joseph   /  5 January 2021

On 22 May 2010, one Laszlo Hanyecz made an unprecedented transaction buying two Papa John’s pizzas with Bitcoin. The cryptocurrency was then virtually unknown outside a few techie circles and for the two pizzas worth around $41 Hanyecz paid ₿10,000. One Bitcoin was worth about $0.0041. Yesterday, the price of one Bitcoin hit over $34,000. 

In a sign of the incredible volatility of this increasingly popular asset, the price subsequently crashed to below $29,000 but it has since rallied and at time of writing was hovering around the mid-$32,000 mark.  


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