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CBS 60 Minutes Highlights Bitcoin Investor Who Spent His $800 Million Dollar Investment on Pizza
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PocketBitcoin has had a wild week in the crypto industry, pushing over $8,000 and dipping right back under. In a recent episode of “60 Minutes,” Anderson Cooper reported on the Bitcoin world, interviewing someone who has earned notoriety for the way he spent 10,000 BTC – on pizza. Laszlo Hanyecz, since his purchase, has been dubbed the “Bitcoin pizza guy,” and Cooper sat down for the first interview ever with this famous investor.
In the early days of cryptocurrency, one man decided to trade his bitcoin for pizza. It was a historic event, but not such a great investment. "60 Minutes" reports, Sunday https://t.co/qS8Swvl5Go pic.twitter.com/raUBvyCD36
— 60 Minutes (@60Minutes) May 16, 2019
Taking the clock back, Hanyecz spent 10,000 Bitcoin in the first transaction in the real world on May 22nd, 2010. The day became an unofficial holiday amongst the cryptocurrency community, calling the anniversary “Bitcoin Pizza Day” each year to commemorate the purchase. Back then, Bitcoin was worth less than a penny. However, if Hanyecz held onto that Bitcoin instead, it would be worth almost $800 million.
Upon bringing up this value, Cooper asked Hanyecz if there are ever times where he thinks of the money that he could be holding if he had not had that pizza crazy. Being realistic, Hanyecz said, “I think thinking like that is… not really good for me.”
During the report, Cooper speaks with Governor Lael Brainard of the Federal Reserve, Neha Narula of MIT Media Lab’s Digital Currency Initiative, Marco Streng of Genesis Mining, and Charlie Shrem. Shrem became one of the first millionaires of Bitcoin, though he was also one of the first felons to come out of the crypto industry.
Cooper traveled to a mining location for cryptocurrency that is located in Iceland for his report, along with the Federal Reserve in Washington D.C. Brainard speaks on the risks associated with the crypto industry, saying that the use of these assets is substantially more risky than using fiat currency. While the US dollar has the support of the US Treasury, and it can be held in a bank account with deposit insurance.
Though he added that this type of coverage is not provided for the industry, The Block recently reported on a new type of deposit account for cryptocurrency that would provide insurance, thanks to a partnership between SFOX and M.Y. Safra Bank. Perhaps this type of security for cryptocurrency is exactly what the market needs.
Bitcoin’s price is $50,350.39 BTC/USD exchange rate today. The real-time BTC market cap of $938.82 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $15.71 Billion and live coin value change of BTC -0.80 in the last 24 hours.
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