As a seasoned crypto investor, I find this report on cryptocurrency purchases of pizzas quite intriguing. It’s fascinating to see how Bitcoin and other digital currencies are being used in everyday transactions, such as buying pizza. I remember the infamous story of Laszlo Hanyecz and his purchase of two Papa John’s pizzas for 10,000 BTC back in 2010. Who would have thought that those Bitcoins would be worth over $700 million today?
As a researcher studying the cryptocurrency market, I’ve discovered that an astonishing sum of over $135,000 in total value has been spent on purchasing pizzas using various cryptocurrencies during the last twelve months, based on data from Bitrefill’s latest report.
An in-depth examination of our internal records for pizza gift card transactions reveals that a total of 3,941 pizzas were bought using cryptocurrencies. Among these crypto purchases, Bitcoin (BTC) along with the Lightning Network accounted for approximately one quarter (23.8%) of all crypto-driven pizza sales.
As a researcher examining the data from Bitrefill’s report, I discovered that Ethereum (ETH) holds a significant position in the global pizza purchase market, accounting for approximately 20.5% of the transactions. On the other hand, USDT, with its massive $111 billion market capitalization as the largest stablecoin, represents around 6.8% of the total cryptocurrencies used for purchasing pizzas worldwide.
Based on Bitrefill’s data, Domino’s Pizza places first with a total of 3,012 cryptocurrency-paid pizza orders in the past year. Following closely are Papa John’s with 473 and Pizza Hut with 173 such transactions.
Here are the top five U.S. states for crypto pizza orders, per Bitrefill analysis:
- California with 266 transactions.
- Texas with 211 transactions.
- Florida with 161 transactions.
- New York with 141 transactions.
- Washington with 136 transactions.
Bitrefill’s report emerges as the crypto community rejoices in Bitcoin Pizza Day celebrations. On May 22, 2010, a developer and Bitcoin miner named Laszlo Hanyecz exchanged 10,000 BTC for two Papa John’s pizzas, which were valued at around $41 back then.
On May 22, this date is recognized within the Bitcoin community as Bitcoin Pizza Day, commemorating the inaugural recorded transaction using this digital currency for purchasing a pizza.
Hanyecz’s Bitcoins would now have been worth over $700 million today.
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2024-05-22 15:38