{"id":3071,"date":"2021-02-17T00:00:00","date_gmt":"2021-02-17T00:00:00","guid":{"rendered":"https:\/\/xcoins.com\/blog\/bitcoin-pizza-guy-says-he-wouldnt-spend-his-bitcoin-to-buy-a-tesla\/"},"modified":"2023-08-15T19:46:50","modified_gmt":"2023-08-15T19:46:50","slug":"bitcoin-pizza-guy-says-he-wouldnt-spend-his-bitcoin-to-buy-a-tesla","status":"publish","type":"post","link":"https:\/\/xcoins.com\/en\/blog\/bitcoin-pizza-guy-says-he-wouldnt-spend-his-bitcoin-to-buy-a-tesla\/","title":{"rendered":"\u2018Bitcoin Pizza Guy\u2019 Says He Wouldn\u2019t Spend His Bitcoin to Buy a Tesla"},"content":{"rendered":"\r\n<p>The man who made one of Bitcoin\u2019s most famous transactions says he wouldn\u2019t use his bitcoin to purchase a Tesla.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>In 2010, Laszlo Hanyecz\u00a0<a href=\"https:\/\/en.bitcoin.it\/wiki\/Laszlo_Hanyecz\">purchased two pizzas<\/a>\u00a0from a local pizzeria for exactly 10,000 BTC. At the time, the total value of this transaction was approximately $41, putting Bitcoin\u2019s value at a mere $0.0041\/BTC. The Florida man is likely to have made one of the first-ever Bitcoin purchases. This transaction, therefore, is probably the first instance of Bitcoin having value in the \u201creal world\u201d.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>For that very reason, the May 22nd date is affectionately commemorated by the cryptocurrency community as \u201cBitcoin Pizza Day\u201d. Today, pizza sellers worldwide offer discounts to Bitcoin users as part of the celebrations.<\/p>\r\n\r\n\r\n\r\n<p>However, even if Bitcoin\u2019s price rises one-hundred fold, few are likely to feel the same level of regret Hanyecz did. Today his purchase is worth over $492 million, almost a quarter of a billion dollars per pizza, according to the comically named\u00a0<a href=\"https:\/\/bitcoinpizzaindex.net\/\">Bitcoin Pizza Index<\/a>.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>In an\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2021-02-10\/who-bought-pizza-with-bitcoin-he-has-some-advice-for-tesla-fans\">email to Bloomberg<\/a>, the pizza-buyer said he wouldn\u2019t spend his bitcoin on a Tesla, as he did on two pizzas in 2010. \u201cPersonally, I am not too interested in Tesla,\u201d Hanyecz wrote in the email. \u201cIf you give it five years, I think the Bitcoin you\u2019d spend will be more valuable than the car.\u201d<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">Most bitcoin transactions are not purchase-related<\/h2>\r\n\r\n\r\n\r\n<p>According to data from Chainalysis, most Bitcoin users treat the cryptocurrency as a hedge or investment rather than a currency. Despite the campaigns by several cryptocurrency communities to encourage businesses to accept crypto-payments, the reality is that most still gets converted into fiat before purchases.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>In 2020, purchase-related transactions only accounted for 0.3% of cryptocurrency transactions. The other 99.7% of transactions were dominated by an increase in trading activity.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>On the other side, businesses are put-off by the volatility of the top-cryptocurrency, citing this as a reason for not accepting Bitcoin as a payment.\u00a0<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">The future of cryptocurrency<\/h2>\r\n\r\n\r\n\r\n<p>Hanyecz\u2019s comments on Tesla come as\u00a0<a href=\"\/en\/blog\/tesla-reveals-one-and-half-billion-bitcoin-purchase-in-sec-filing\/ \">the electric vehicle maker announced a $1.5 billion Bitcoin purchase in a Securities and Exchange Commission filing.<\/a><\/p>\r\n\r\n\r\n\r\n<p>The filing also suggested Tesla was looking to accept Bitcoin as payment. Moreover, with Visa, Mastercard and PayPal\u00a0<a href=\"\/en\/blog\/visa-ceo-intends-to-enable-cryptocurrency-spending-on-the-visa-network\/\">integrating cryptocurrencies<\/a>\u00a0into their global payments systems, and with even Amazon rumored to be working on something cryptocurrency-related, the future of Bitcoin as a mainstream form of payment may not be far off.\u00a0<\/p>\r\n\r\n\r\n\r\n<p><br \/><em>To stay up to date on all things crypto, like Xcoins on\u00a0<\/em><a href=\"https:\/\/www.facebook.com\/xcoinsofficial\"><em>Facebook<\/em><\/a><em>, follow us on\u00a0<\/em><a href=\"https:\/\/twitter.com\/realxcoins\"><em>Twitter<\/em><\/a><em>\u00a0and\u00a0<\/em><a href=\"https:\/\/www.linkedin.com\/company\/54161996\/\"><em>LinkedIn<\/em><\/a><em>\u00a0and enter your email address at the bottom of the page to subscribe.<\/em><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>The man who made one of Bitcoin\u2019s most famous transactions says he wouldn\u2019t use his bitcoin to purchase a Tesla.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":1888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[462],"class_list":["post-3071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news-2","tag-test-post"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>\u2018Bitcoin Pizza Guy\u2019 Shares Opinion on Tesla | Xcoins<\/title>\n<meta name=\"description\" content=\"Laszlo Hanyecz, the iconic man from the bitcoin pizza story gives his opinion on the vehicle brand created by billionaire Elon Musk.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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