Teen who got paid £250m in Bitcoin to deliver two pizzas spent it on a road trip

A student who delivered two pizzas and got paid in Bitcoin would be worth approximately $365 million (£257m) today — if he hadn't spent it all on a road trip.

In 2010 Laszlo Hanyecz had invested in the recently-invented cryptocurrency project when he felt peckish.

He posted on an internet board he would pay someone 10,000 Bitcoins in exchange for the delivery of two large pizzas.

He wrote: “I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc. just standard stuff no weird fish topping or anything like that.”

Californian student Jeremy Sturdivant, then 19, spotted the post and paid $40 in real cash for two large pizzas to be delivered to Hanyecz from Papa John's – a cheese and a 'supreme'.

He got the Bitcoin in return, the first time the currency had been used to pay for something.

Had he held onto them, they would now be worth hundreds of millions of dollars — but instead he used them to pay for a road trip with his girlfriend.

He told the Telegraph in 2018: "I had no idea how huge it would become.

"If I had treated it as an investment, I might have held on a bit longer, but I would never have thought that the same number of Bitcoin would have a purchasing power on the order of real estate.”

Hanyecz also missed out on tens of millions, revealing at its current worth he had given away the equivalent of $3.8 billion in return for pizzas alone in the summer of 2010.

He told Bitcoin magazine: “I wanted to do the pizza thing because to me it was free pizza.

"I got pizza for contributing to an open-source project. Usually hobbies are a time sink and a money sink, but in this case, my hobby bought me dinner.

“I think that it’s great that I got to be part of the early history of Bitcoin in that way. I’d like to think that what I did helped develop Bitcoin, but I think if it wasn’t me, somebody else would have come along.”

The transaction is now celebrated every year on Bitcoin Pizza Day.

The value of a single Bitcoin has risen from being worth less than a dollar when it was created to around $38,225 today.

Its creator Satoshi Nakamoto – whom no-one knows is actually a real person or a group of computer experts – has a fortune of $13 trillion in Bitcoins.

However, financial experts have warned people that investing in the currency is high risk as its value can rise and fall dramatically, and people should not become involved unless they understand how it works, and the risks involved.

A number of other cryptocurrencies have also appeared on the market, and recently UK high street banks advised people to be cautious over investing in them due to the potential of being scammed.

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