7 Extravagant and Practical Ways People Have Spent their Cryptocurrencies
By: Hai Ha N.
Tags: Bitcoin, Ethereum, Cryptocurrency

Money has been a part of humanity for over 10,000 of years¹; from bartering to the first known currency in coin form created in 600B to bank notes around 1661 AD to credit cards in 1946, there’s endless ways people have spent money.² Then came cryptocurrency, introduced to the world in 2009, challenging the way the world perceives the idea of money and it’s value. Although still challenging to spend cryptocurrency, some people have managed to find both extravagant and practical ways to spend it.

1. Pizza

On 22 May 2010, Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC. On that day Bitcoin traded for $0.004 which was around $41 USD,³ now worth approximately $64.4M.⁴ Not only did Hanyecz set a record but helped coined the hugely popular social media holiday ‘Bitcoin Pizza Day’ and sparked the question, “will this eventually be a Million dollar pizza”?⁴ We’ll have to ask Hanyecz what it’s like to eat a ‘Million dollar pizza’ if we ever meet him.

2. CryptoKitties

It’s not too surprising (okay a little) that players have spent the equivalent of $1.3M and counting buying CryptoKitties on the Ethereum blockchain.⁶ But if you collected Beanie Babies, Pokemon cards or Pongs you’d understand. There is a maximum of 4 billion CryptoKitties, each with its’ own unique ‘Cattribute’, so it makes sense that you’d want to snatch one up before they’re all taken or increase in value. One of the original Kitties can sell for as much as $114,481.59! One Reddit user sparked a debate that a CryptoKitty is like a Picasso of our time.⁷ What do you think?

3. Luxury Goods

For those that enjoy the finer things in life, companies like Dadiani Syndicate & The White Company are platforms that where their clients can spend their crypto on diamonds, yachts, private jets, Lamborghini’s and even a Salvador Dali painting.⁸

4. Space Tourism

What does it cost to be one of the first people to experience space tourism? $250,000 USD and Bitcoin is accepted by Virgin Galactic.⁹ The excitement of the exploration, rocket ride, experiencing weightlessness and the breathtaking views of Earth, for some it’s worth the price tag.

5. Charitable Donation

If you believe in giving back to the community, you’re not alone. Fidelity Charitable revealed earlier this year that it had received $69M in cryptocurrency donations in 2017 alone.¹⁰ Blockchain crowdfunding sites like BitHope and BitGive are some platforms that you can find a good cause to donate to. Back in December 2017, Merkle Tree Charity in Toronto raised over $70K for Homeless Youth where the tree lit up based on events that were happening on the Ethereum blockchain. Even though cash was accepted, cash donations only totalled $3,000.¹¹

6. Private School

After investing in Bitcoin for a few months in 2017, Jon and Samantha F. were notified by Montessori School that Bitcoin was accepted for their child’s tuition. It was a no-brainer for them, rather than writing a cheque, they sent $33,000 to the school’s code.¹²

7. High-Powered Blue Laser

Matt R. sold his apartment in 2015 to buy Bitcoins, and soon after started buying T-Shirts, socks, gold coins and a high-powered blue laser for $400 in Bitcoin, which sat in his closet for several years. Why he buy it? He explains, “My premise was, I just wanted more and more people to use this so we could all be in this collective consciousness of how this works, to get to the next stage of monetary freedom.”¹³

With the launch of the STACK app, the vision is to not only build a product that is a smarter way to spend, save or share your money, but also contribute to mass adoption of cryptocurrency with the integration of STK. Have you come across an interesting way to spend crypto? Share with us in the comments below!