When Hanyecz bought his pizzas, a bitcoin was worth a fraction of a cent. As bitcoin crashes through new highs this week — a single bitcoin is worth just over $8,200 Cdn — that would make the pizzas cost $82 million. For all intents and purposes, a bitcoin has become the currency that's hard to spend. With some economically inclined friends, I was puzzling over a historical equivalent of the bitcoin phenomenon where a currency rises exponentially in value. As traders watch bitcoin values soar, it's hard not to think of each new cryptocurrency launch as a path to speculative riches.

Source: CBC News November 01, 2017 09:00 UTC