Every year on May 22, the cryptocurrency community celebrates Bitcoin Pizza Day, commemorating the first documented purchase of a physical item using Bitcoin (BTC). This historic event marked a pivotal moment in crypto history, showcasing BTC’s real-world utility.
The Story Behind Bitcoin Pizza Day
The Legendary Transaction
In 2010, programmer Laszlo Hanyecz made history by exchanging 10,000 BTC for two pizzas from a Florida restaurant. At the time, the BTC was worth approximately $41**. Today, those 10,000 BTC are valued at **$268 million (¥3.7 billion), making it one of the most famous—and expensive—meals ever.
Why It Matters
- First Physical Purchase: Demonstrated Bitcoin’s potential as a medium of exchange.
- Community Tradition: Sparked annual celebrations among crypto enthusiasts worldwide.
How the Crypto Community Celebrates
Global Pizza Parties
From Bali to Naples, crypto fans honor the day by sharing pizza-themed gatherings:
- OKX and Binance hosted employee pizza lunches (see tweet).
- Indonesian Bitcoiners posted photos of their Balinese pizza feast.
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Jeremy Sturdivant: The Unsung Hero
The pizzeria owner who accepted the BTC is often hailed as the "true hero" of the story. Reddit users speculate whether he still holds the BTC or sold it prematurely.
FAQs About Bitcoin Pizza Day
1. Could the pizzas have been bought for less BTC?
Yes—in 2010, Bitcoin’s value was negligible. The same pizzas today would cost 0.0005 BTC (~$13).
2. Were there earlier BTC transactions?
Some evidence suggests a JPEG was sold for 500 BTC months before the pizza purchase, possibly involving Satoshi Nakamoto.
3. What if Laszlo kept the BTC?
Hanyecz’s 10,000 BTC would now make him a multi-millionaire. He’s stated he has no regrets, as the trade helped Bitcoin gain traction.
Key Takeaways
- Bitcoin Pizza Day symbolizes crypto’s evolution from niche tech to global asset.
- The event underscores BTC’s volatility—and its potential for life-changing gains (or losses).
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Edited by CoinTelegraph Japan