Every year on May 22, the cryptocurrency community celebrates Bitcoin Pizza Day. This day marks the anniversary of the first real-world Bitcoin transaction, which happened fourteen years ago when Floridian programmer Laszlo Hanyecz bought two pizzas for 10,000 BTC.
On May 22, 2010, a programmer named Laszlo Hanyecz made the first recorded purchase using Bitcoin. He paid 10,000 bitcoins for two pizzas from Papa John’s, worth about $41 at the time. This transaction has since become known as Bitcoin Pizza Day and is widely considered to be the first real-world use of cryptocurrency.
The Story Behind Bitcoin Pizza Day
On May 18, 2010, Hanyecz posted on the Bitcointalk.org forum, expressing his desire to buy two large pizzas with Bitcoin. He offered 10,000 BTC to anyone who could order and deliver the pizzas to him, with the only requirement being that the payment be made in cryptocurrency.
Despite his offer, Hanyecz had trouble finding anyone willing to accept his proposal. One user even commented that 10,000 BTC was “a lot” for two large pizzas and suggested Hanyecz sell his crypto for $41 instead.
The Historic Transaction
This plaque resides on the Jacksonville, Florida Papa Johns. pic.twitter.com/yGYLlwCAcl
— Documenting â‚¿itcoin 📄 (@DocumentingBTC) May 22, 2021
On May 22 at 19:17, he updated his post with a picture of the pizzas, stating, “I just wanted to report that I traded 10,000 Bitcoins for pizza.” A British man accepted Hanyecz’s offer, buying the two pizzas for him in exchange for the 10,000 BTC, which were worth about $41 at the time.
Over time, the value of the two pizzas bought with 10,000 BTC skyrocketed. Nine months after the purchase, Bitcoin reached parity with the U.S. dollar, making the pizzas worth $10,000. By the fifth anniversary of Bitcoin Pizza Day in 2015, their value had skyrocketed to an astounding $2.4 million.
Today, with Bitcoin trading at approximately $71,000, those pizzas are now valued at an astounding $710 million. To commemorate this historic transaction, a plaque has been installed at Papa John’s in Jacksonville, Florida, reading: “Papa John’s. Makers of the famous Bitcoin Pizzas. May 22, 2010.”
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