Laszlo Hanyecz didn’t expect to make history when he ordered two large pizzas from Papa John’s in May 2010.
But he did.
Hanyecz paid for his pizzas using bitcoin in what’s believed to the first transaction using the cryptocurrency to pay for a product.
And – this is almost too painful to write – he paid what would now be more than $75 million for the two pizzas. He ordered two because he liked to munch on leftovers the next day. Meanwhile, he had no idea that second pizza would one day cost him nearly $38 million.
The reason why is actually pretty simple though.
Each bitcoin was worth about $0.003 at that point in time, so the 10,000 bitcoins he used to pay for the pizzas were worth about $30.
But bitcoin has surged more than 33,000% in the last 10 years. Today, each one is worth more than $7,700!
If Hanyecz had held onto his bitcoins, he could buy enough pizza to feed the world.
Even with that massive rally behind us, we can mark our calendars for an event that should spark the next big surge. And it’s only two weeks away! Now is the time to get ready…
We’ve been talking about this massive event in bitcoin. It’s an event that will affect the cryptocurrency market in a big way. Investors stand to make a ton of money.
It’s called “the halvening,” and it happens once every few years.
It works like this: Bitcoins are created by “bitcoin miners” who try to solve complex computer puzzles and are rewarded for doing so with an amount of bitcoin that’s already baked into the system. That’s how Laszlo Hanyecz got his pizza money.
Today, a miner receives 12.5 bitcoins for mining one block. At current prices, that’s worth more than $95,000. But in the months ahead, this reward will be cut in half. Miners will receive only 6.25 bitcoins as a reward for mining one block.
This “halving” will limit the supply of bitcoin over time. A lot of people don’t know that bitcoin has a set finite supply. Only 21 million bitcoins will ever be created – no more and no less. So thanks to the halvening, the market will soon receive half the daily supply of new bitcoins that we have right now.
And according to Forbes, that will create a “supply shock” that will ignite the cryptocurrency market.
I couldn’t agree more.
It’s basic supply and demand – what we all learned in 11th grade economics class.
If the demand for something remains constant… and the supply is cut sharply … prices will soar!
We’ve seen this tried and true economic phenomenon throughout history… and the big money smart investors can make from it.
It happened in the silver market in 1979. One extremely rich Texas family got their hands on one-third of the entire world’s silver supply. This caused an instant panic – everyone feared a shortage of silver was inevitable.
Silver prices climbed from $6 per ounce to $49 per ounce in just 12 months. That’s a 713% gain!
The same thing happened in the oil market.
In 1973, OPEC countries declared an oil embargo on the United States. This created a major oil shortage in the U.S. virtually overnight. The cost of oil nearly quadrupled – from just $2.90 per barrel to almost $12.
Nothing about silver or oil had changed… it was simply the supply that made prices go vertical.
Now this same type of event – the kind that creates an economic shortage – is about to occur in cryptocurrencies.
The amount of new bitcoins will decrease dramatically very soon. And this will send crypto prices soaring to new heights…
I’m talking about the kind of heights that create life-changing wealth for investors in the know. The kind of heights that could make you a millionaire by the end of this year.
The Massive Opportunity
This won’t be the first time new supply of bitcoin has been cut in half. It’s happened twice before…
- The first halvening in November 2012 sent the cryptocurrency up 2,135%.
- And the second halvening in June 2016 saw bitcoin shoot up 3,122% in 18 months.
Bitcoin investors would have made massive profits.
But here’s the catch… an investment in another kind of cryptocurrency would have made significantly more money.
I’m talking about “altcoins” – an entire separate class of cryptocurrencies outside of bitcoins.
One such altcoin called Spectrecoin climbed 64,600% in the 10 months following the halvening. That’s 20 times the gains bitcoin saw.
Another altcoin called Verge shot up 1,362,400%! For perspective, that would have turned an investment of $5,000 into $68 million.
As you can see, choosing the right altcoins resulted in much larger payouts than just simply purchasing bitcoin. It’s been proven over and over again in the years following the halvenings…
Reddcoin soared 72,400% after the second halvening…
NEO rose 124,453%…
Ripple grew 43,488%…
TRON saw a 9,455% gain…
I could go on and on… and on. But you get the point.
Clearly, we cannot afford to ignore the supply shock that’s just around the corner. Smart investors need to know about cryptocurrencies, altcoins, and the like.
We’re going to talk all about it tomorrow at 7 p.m. ET in my 2020 Crypto Millionaire Summit: Last Call.
Remember, your spot is reserved, and this special summit costs you absolutely nothing. It could be the most important investment decision you’ll make this decade.
I’ll look forward to talking with you again tomorrow!