The $800,000,000 Worth of Bitcoin for Pizza Story Gets a 60 Minutes Segment

The $800,000,000 Worth of Bitcoin for Pizza Story Gets a 60 Minutes Segment

TL;DR: Sunday, 19 May 2019, is when the latest episode of tabloid news program 60 Minutes will air on CBS. It will be dedicated in large part to the subject of cryptocurrency. In marketing preparation, CBS News has been running older clips from its earlier investigations of the subject years ago, and more recently released a newer vignette, snippets of a conversation with Laszlo Hanyecz. He’s best known for having spent what today would be worth $800 million in bitcoin on pizza.  

Bitcoin for Pizza Story Gets a 60 Minutes Segment

Back in 2010, Hanyecz spent 10,000 BTC, worth less than a penny, on pizza. Readers doing quick math often cringe at its cost by today’s standards. It gets worse. Turns out, all totaled, he guesses more on the order of 100,000 BTC was used for otherwise frivolous items, arriving at the $800 million figure often used to grab headlines.

Hosted by CNN’s anchor Anderson Cooper, his “report includes interviews with Federal Reserve Governor Lael Brainard; Neha Narula, director of the MIT Media Lab’s Digital Currency Initiative; Marco Streng, the CEO of Genesis Mining; and Charlie Shrem, one of Bitcoin’s first millionaires and also one of its first convicted felons,” according to CBS.

The $800,000,000 Worth of Bitcoin for Pizza Story Gets a 60 Minutes Segment

Renewed interest in crypto from legacy mainstream media outlets such as 60 Minutes comes in the midst of market fever. Speculative prices across crypto markets are mooning, and it’s increasingly becoming more difficult to ignore such a story made anew. Get-rich-quick schemes are obviously very tantalizing. Cooper asks in the clip of Hanyecz, exasperatedly, “You spent about $800 million on pizza?” Hanyecz looks shook, sheepish, warn down. “Are there nights you wake up, where you think, ‘I could have had $800 million… if I hadn’t bought those pizzas?'” Cooper insisted. His answer is candid, admitting, “I think thinking like that is… not really good for me.”

Hanyecz would go on, of course, to become known as The Bitcoin Pizza Guy, and in late May Bitcoiners routinely celebrate Bitcoin Pizza Day. They do, not to rub it Hanyecz’ face, but to emphasize a point perhaps too nuanced to overcome the sexiness of all those zeros lost: if he and all early adopters kept quiet and just held their bitcoin, its present-day value, by which Hanyecz is scoffed at, would not have been achieved.

DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH. 

The $800,000,000 Worth of Bitcoin for Pizza Story Gets a 60 Minutes SegmentCONTINUE THE SPICE and check out our piping hot VIDEOS. Our podcast, The CoinSpice Podcast, has amazing guests. Follow CoinSpice on Twitter. Join our Telegram feed to make sure you never miss a post. Drop some BCH at the merch shop — we’ve got some spicy shirts for men and women. Don’t forget to help spread the word about CoinSpice on social media.