Introduction
Bitcoin pizza refers to the historic event on May 22, 2010, when Laszlo Hanyecz famously paid 10,000 BTC for two pizzas. This marked the first real-world transaction using Bitcoin, laying the foundation for its future as a payment method.
The Bitcoin Pizza Story
The First BTC-Paid Pizza
On May 18, 2010, programmer Laszlo Hanyecz posted a request on the Bitcoin Forum:
"I’ll pay 10,000 bitcoins for a couple of pizzas."
Four days later, Jeremy Sturdivant, a London-based student, accepted the offer. He ordered two pizzas from Papa John’s via credit card and delivered them to Laszlo in exchange for 10,000 BTC.
Key Figures Behind the Transaction
- Laszlo Hanyecz: A Florida-based developer who pioneered BTC’s utility as currency.
- Jeremy Sturdivant: The student who facilitated the trade, later known by his forum handle "Jercos."
How Much Were the Pizzas Worth?
- 2010 Valuation: 10,000 BTC ≈ $25 (~¥2,200).
- 2024 Valuation: 10,000 BTC ≈ **$574 million** (at ~$57,454/BTC).
👉 Discover how Bitcoin’s value has skyrocketed
Bitcoin’s Price History
Early Days
- 2009: First exchange rate: ¥0.07/BTC.
- 2010 (Pizza Day): ~¥0.20/BTC.
Major Price Fluctuations
- 2011: Peaked at ¥1400/BTC before dropping to ¥400.
- 2013: Surged 10x in two months.
- 2017: Reached ¥2 million/BTC amid media hype.
Can You Still Buy Pizza with Bitcoin Today?
Challenges
- High Fees: Transactions can cost $20–$60.
- Scalability Issues: Slow processing times hinder instant payments.
Future Possibilities
The Lightning Network (a Layer-2 solution) could enable:
- Low-cost microtransactions.
- Faster payments for everyday purchases like pizza.
👉 Explore Bitcoin’s evolving technology
FAQs
Q1: Why is Bitcoin Pizza Day significant?
It commemorates BTC’s first real-world use, proving its potential as currency.
Q2: How much would 10,000 BTC be worth today?
Roughly $574 million (May 2024 rates).
Q3: Can I buy pizza with Bitcoin in 2024?
Possible, but impractical due to fees—stablecoins or Lightning Network are better options.
Conclusion
The Bitcoin pizza saga symbolizes BTC’s journey from negligible value to global asset. While buying pizza with BTC is rare today, advancements like the Lightning Network could revive its everyday utility.
What’s next for crypto? The possibilities are endless.
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