- Bitcoin hit an all-time high, with prices surging to $60,000 on Saturday.
- The increase means a storied 2010 pizza purchase by Laszlo Hanyecz would now be worth $613 million.
- Bitcoin is amassing more and more institutional support, though critics remain skeptical.
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The programmer Laszlo Hanyecz has become well known in crypto circles after trading 10,000 bitcoins for two Papa John's pizzas on May 22, 2010. The date is now celebrated in the crypto calendar as "Bitcoin Pizza Day."
Thanks to Saturday's record-breaking price of $60,000 for a single bitcoin, Hanyecz's stash would now be worth $613 million, as Sky News pointed out.
The cryptocurrency, which has a market capitalization of more than $1.1 trillion, has been buoyed by investor optimism.
On Thursday, President Joe Biden signed a $1.9 trillion coronavirus-relief bill into law. As a result, $1,400 direct payments are being distributed to millions of Americans, fueling hopes that the market boom will continue.
In fact, an ever-increasing number of firms are testing the crypto waters. Bitcoin enthusiasts believe the world's biggest and best-known cryptocurrency has more legitimacy than in the past because big-name companies are supporting the price.
Not everyone is won over, though. Warren Buffett has repeatedly criticized it and other cryptocurrencies as "risky" and "worthless."
As for Hanyecz, he apparently has had no regrets in the years since he purchased the pizzas. Last year, CoinDesk quoted him as saying bitcoin was "a way to harness greed."