QoD: In 2010, 2 Pizzas For 10k Bitcoin ($30). How Much Today? - Blog

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Back to Category Mar 26, 2023 Question of the Day
Question of the Day: In 2010, someone bought 2 pizzas for 10,000 Bitcoin (worth about $30). How much is 10,000 Bitcoin worth today?

The value of 10,000 Bitcoin has actually decreased by about a quarter since last year!

Answer: $284,986,000.00!

As of 3/22/23, 10,000 Bitcoin are worth approximately $285 million which was about a quarter of the value it was last year this time at $411 million!

Questions:
- Are you interested in cryptocurrencies? Why or why not?
- What emotion do you think the pizza buyer is now feeling about this 2010 transaction?
- Do you know anyone that has ever bought something using cryptocurrency? If so, can you describe the process to complete a transaction using crypto?
Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Coindesk):

"Hanyecz is known as the first person to use bitcoin in a commercial transaction. On May 22, 2010, when bitcoin was a little over a year old, he bought two pizzas for 10,000 BTC. The day is now known as "Bitcoin Pizza Day." With one bitcoin now worth $9,500 [Editor's note: Price of Bitcoin in March of 2022 is $40,000], this is apparently a joke and Hanyecz's $45 million pizzas are the punchline.

The joke is also a parable, illustrating the competition and interplay between three potential uses of bitcoin. The first is speculation. Bitcoin's nosebleed-inducing decade of upward price movement is what drives CNBC headlines and motivates participation: People see it as a way to get rich. "Bitcoin is a way to harness greed," said Hanyecz in a recent interview from his home in Jacksonville, Fla. It's greed that underpins the delicate balance of incentives that keeps bitcoin running."

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Do your students want to learn more about crypto? Be sure to check out the NGPF Cryptocurrency unit.

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The difference that 4 years makes...an earlier FinCap Friday valued the pizzas at the time at $80 million. Yes, Bitcoin has risen quite a bit since then.
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About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.
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