The Historic Bitcoin Pizza Purchase
In May 2010, Laszlo Hanyecz, a Florida-based programmer and early Bitcoin adopter, made history by purchasing two large pizzas for 10,000 BTC. This transaction marked the first known use of Bitcoin for buying physical goods, cementing its potential as a peer-to-peer digital currency.
The Origins of Bitcoin Pizza Day
Every year on May 22, the crypto community celebrates Bitcoin Pizza Day to commemorate this milestone. Here’s how it unfolded:
- Hanyecz’s Offer: On May 18, 2010, Hanyecz posted on Bitcointalk.org, offering 10,000 BTC for two pizzas.
- The Transaction: Four days later, a 19-year-old named Jeremy Sturdivant ("jercos") accepted the deal, ordering Papa John’s pizzas and delivering them to Hanyecz.
- Bitcoin’s Value at the Time: BTC was priced at **$0.0041**, making the pizzas worth ~$41.
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The Aftermath: A Costly Meal
- 2010: 10,000 BTC = $41
- 2021: BTC hit an all-time high of $68,990**, valuing Hanyecz’s pizzas at **$690 million.
- Hypothetical Wealth: Had Hanyecz held those coins, he could’ve bought ~46 million large pizzas (at $15 each).
Despite the missed fortune, Hanyecz told CBS in 2019:
"It made Bitcoin real for some people. It certainly did for me."
Why Bitcoin Pizza Day Matters
- Symbolic Milestone: Demonstrated Bitcoin’s utility beyond theory.
- Community Tradition: Crypto enthusiasts celebrate annually with pizza-themed events and memes.
- Lesson in Volatility: Highlights crypto’s rapid appreciation—and risks of early spending.
FAQs About Bitcoin Pizza Day
1. Why is Bitcoin Pizza Day important?
It commemorates the first real-world Bitcoin transaction, proving its use as currency.
2. How much would 10,000 BTC be worth today?
At Bitcoin’s current price (~$60,000), it’s **$600 million**—far outpacing traditional investments.
3. Does Laszlo Hanyecz regret the purchase?
No. He stated it helped legitimize Bitcoin and was a "fun story" for the ecosystem.
4. Can you still buy pizzas with Bitcoin?
Yes! Major chains like Papa John’s and Domino’s accept BTC via crypto payment processors.
5. How do people celebrate Bitcoin Pizza Day?
By sharing memes, hosting meetups, and ordering pizza with crypto.
Final Thoughts
Bitcoin Pizza Day isn’t just about a quirky trade—it’s a cultural touchstone for the crypto movement. Whether you’re a HODLer or a newbie, May 22 serves as a reminder of how far Bitcoin has come—from buying pizzas to reshaping global finance.
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