Bitcoin has hit an all-time high, with prices surging to $60,000 on Saturday. The recent surge has meant that programmer Laszlo Hanyecz ended up spending a whopping $613 million on pizzas.Earlier this week, President Joe Biden signed a $1.9 trillion relief bill into law. As a result, $1,400 stimulus checks are being distributed to millions of Americans, fueling hopes that the market boom will continue. The soaring price of bitcoin on Saturday marked an increase of 1,000% in the past year.
It has also benefited from the backing of major institutions, like Tesla and Mastercard. Thanks to Saturday's record-breaking price of $60,000, the ay is now known as "Bitcoin Pizza Day" and is the most celebrated date in the crypto calendar as per a Insider report. Not everyone is won over by bitcoin though. Legendary investor 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, despite the cryptocurrency's frequent price hikes. Last year, Coindesk quoted him as saying that "bitcoin is a way to harness greed."