Bitcoin Pizza Day Protagonist Squandered 79,000 BTC for Subsequent Purchases, Current Value Exceeds $8.7 Billion

Mars Finance News, on May 22, according to Forbes, the programmer Laszlo Hanyecz, who spent 10,000 Bits on two Papa John's pizzas in 2010, is more "extravagant" with Bits than the public believes. Hanyecz may have additionally spent 79,000 Bits on subsequent pizza purchases, worth over $8.7 billion at current exchange rates. In a 2019 interview, Hanyecz stated that he spent nearly 100,000 Bits on pizzas in 2010, and was indifferent to these transactions at the time. Hanyecz noted that Bitcointalk forum users would often gift hundreds of Bits to newcomers. To prove his claim, Hanyecz provided the Bit addresses listed in his first Bitcointalk post. Wallet records show that from April 10, 2010, to August 4, when pizza transactions were closed, Laszlo transferred over 79,000 Bits. Ironically, the wallet now has only enough Bits to buy a large pizza at current rates, with the last major transfer occurring in June 2011, totaling slightly over 81,432 Bits. Where did Hanyecz's Bits come from? Between 2009 and 2010, the Bit block reward was 50 Bits per block (plus transaction fees), with an average of one block every ten minutes. Hanyecz's 81,432 Bits represented approximately 1.5% of the total mined at that time. Hanyecz was an early Bit developer who not only designed the first MacOS Bit client but was also the first person after Satoshi Nakamoto to discover GPU mining. After he published this discovery in May 2010, the Bit network's computing power surged 1,300-fold by the end of the year. Ironically, the intensifying competition prevented him from continuing to "earn thousands of Bits daily".