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He Spent $3.8 Billion on Pizza

Written by Alex Koyfman
Posted January 27, 2022

Dear Reader,

No name carries the same level of notoriety in the tech world as Laszlo Hanyecz.

If you've never heard of this man, it will take me less than a minute to explain exactly why he gets this dubious honor.

You see, back in 2010, Laszlo was one of the earliest participants in a then-obscure industry known as cryptocurrency mining.

Back then, the entire world cryptocurrency market cap was less than a million dollars, with daily trading volume measurable in the hundreds of thousands.

Now, if you're somebody who knows next to nothing about Bitcoin mining, you only need to know one fact to understand the position Laszlo was in back in 2010.

With every bitcoin mined, the cost of mining successive bitcoins rises.

The relative difference in computing power required to mine a single bitcoin between May 22, 2010, and January 25, 2022, is 2.254 trillion.

Let me say that again, in another way: It is 2.254 million million times harder to make a bitcoin today than it was when Laszlo was doing it.

That's no hyperbole. That's an exact figure, which you can find yourself with a couple quick Google searches.

In fact, in mid-2010, the total BTC market cap was less than $200,000 (USD) — or about 1/350 millionth of its size as of this week.

A Date That Will Live in Infamy

But why is the May 22 date so important? Well, that's the part that just might make you hate old Laszlo, because that's the date on which he spent 10,000 of the bitcoins he mined almost effortlessly on two pizzas from Papa John's.

Today, even after the recent crypto correction, those two pizzas would have been worth a soul-crushing $380 million.

But that's not all.

In a recent interview with The U.S. Sun, Mr. Hanyecz revealed that over the course of that summer, he repeated this transaction several times, dropping no less than 100,000 BTC on pizza.

That's $3.8 billion by today's market value. Enough to have gotten him into the top 500 richest individuals in the world by late 2021.

"I felt like I was winning the internet that day," he said, when asked if he had any regrets.

And in a way, it's understandable. He had no way of knowing where Bitcoin would go.

Timing Is Everything

All he knew was that he'd created value from nothing, using the processing power of his computer and a penny or two worth of electricity.

The story has changed significantly since then. Today we know the power of cryptocurrency, and we know that the future holds even more promise as businesses and institutions begin adopting the technology for their own needs.

However, even with that knowledge, there are still grossly underbought cryptocurrencies on the market today.

Cryptos trading not for hundreds of billions, or even billions, but just tens of millions of dollars — microcap cryptos, which nevertheless carry the potential for explosive growth.

One of the biggest problems with buying today's lesser-known "altcoins" is that oftentimes, multiple exchanges are needed to trade them.

This makes liquidity and volume a potential issue, as only the tech-oriented tend to venture into those waters.

One Exchange, One Transaction

Today, however, there is an option. Coinbase, the world's most popular cryptocurrency exchange, is now offering coins in the microcap range.

Never before has so much upside potential been opened to the general crypto markets.

Some of the best offerings remain the most overlooked, but I doubt this will stay the case for long.

To make sure that my readers stay up to date on the most prospective of Coinbase-available microcap cryptos, I just published this presentation

Access is instant, and it's completely free of charge.

Don't be a Laszlo. Don't overlook the value of what could be the next big thing in crypto.

Fortune favors the bold,

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Alex Koyfman

His flagship service, Microcap Insider, provides market-beating insights into some of the fastest moving, highest profit-potential companies available for public trading on the U.S. and Canadian exchanges. With more than 5 years of track record to back it up, Microcap Insider is the choice for the growth-minded investor. Alex contributes his thoughts and insights regularly to Wealth Daily. To learn more about Alex, click here.

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