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Where are the bitcoin pizza coins right now?

May 23, 2020

Today marks the tenth anniversary of the first official commercial purchase of Bitcoin. On May 22, 2010 the programmer Laszlo Hanyecz full Bitcoin’s first documented commercial purchase, paying 10,000 for two Papa John’s pizzas. The current market price, which at the time was $ 41, puts the purchase at $ 92.5 million.

One could logically wonder what happened to the 10,000 Bitcoin (BTC) used to buy two pizzas.

“Funds have moved in many directions over the years”Grant Blaisdell, co-founder and chief marketing officer of blockchain analytics company Coinfirm, told Cointelegraph in an email. Some BTCs went to a stock exchange that has since been closed, while some BTCs remain in a highly valued purse.

Many Bitcoin went to BTC-e

Where are the bitcoin pizza coins right now?
Where are the bitcoin pizza coins right now?

“Some of the funds appear to have been liquidated on BTC-e.”Blaisdell said. The BTC-e cryptocurrency exchange launched in 2011 fell in 2017 when the authorities seized the money for money laundering claims.

Part of the BTC is still in a very valuable wallet

By tracking the Pizza Bitcoin, Coinfirm discovered that 5.79% of the original 10,000 BTC reached one of the largest bitcoin wallets in existence today. With a total of over 5 million US dollars, around 579 of the BTC pizza still occupy the twelfth largest wallet in the Bitcoin area.

Whoever has that address has also amassed Bitcoin from elsewhere, as the wallet is now nearly $ 500 million in Bitcoin, Blaisdell explained. “He may be someone who has been known and active in the Bitcoin space from the start.” completed and added:

We do not know who controls the address because it does not appear to be associated with or belong to a business unit such as an exchange or wallet. The fact that the person is unknown is mysteriously great, like Satoshi. “

May 22, 2020 was an eventful event as Pizza Day made several headlines about cryptocurrencies, including BitFlyer, which sent pizzas to those in need, and Andreas Antonopoulos, who remembered other early Bitcoin buying events.

Images in the text courtesy of Coinfirm.