It’s a fun but increasingly irrelevant historical fact to recount the most expensive pizza ever purchased: in 2010, programmer Laszlo Hanyecz completed the first documented commercial bitcoin purchase when he paid 10 000 BTC for two Papa John’s pizzas, then worth just $41. In today’s terms, those two pizzas cost R6.3 billion. In 2012, entrepreneur and author Andreas Antonopoulos reportedly paid five BTC for one pound of coffee beans. That’s R3.14 million in today’s terms.
But there’s a catch: for the first time in a decade, SA house prices actually increased when measured in bitcoin. Not by much, but an increase nonetheless. Our original R1 million house had appreciated in value to R1.46 million in 2021, the equivalent of 2.25 BTC back then. A year later, in March 2022, that same house is worth R1.52 million, the equivalent of 2.3 BTC. Source: Moneyweb, Ycharts.com Morgan Stanley ran a similar exercise for US house prices and here’s the graph.
How many people earning Bitcoin are buying houses in SA?
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