Bitcoin
Celebrating 10,000 BTC pizza order
What is Bitcoin Pizza Day?
Every year, May 22 marks the anniversary of the day a Florida man paid 10,000 BTC for two pizzas in the first Bitcoin transaction. The day has become legendary, firstly because it was the first commercial use of bitcoins, but even more so because of Bitcoin’s value in the years since. For the two pizzas, the man in question paid a fortune at today’s prices.
Key Takeaways
- May 22nd has become something of a celebratory date for the cryptocurrency community.
- A man in Florida posted an order for someone to make or buy and then deliver two pizzas on the Bitcoin Forum and paid 10,000 BTC.
- This was the first commercial transaction using bitcoins.
- Years later, the transaction between two people was worth a fortune.
History of Bitcoin Pizza Day
On May 22, 2010, now known as “Bitcoin Pizza Day,” Florida man Laszlo Hanyecz agreed to pay 10,000 bitcoins for delivery of two Papa John’s pizzas. On the Bitcoin Talk forum, Hanyecz asked for help. “I’ll pay 10,000 bitcoins for some pizzas… maybe two large ones, then I’ll have some leftovers for the next day,” Hanyecz wrote.
Laszlo’s pizza order on the Bitcoin forum.
“I like having leftover pizza to eat later. You can make the pizza yourself and bring it to my house or order it from a delivery place, but what I want is for the food to be delivered in exchange for bitcoins, where I don’t have to order or prepare it myself, is like ordering a ‘breakfast plate’ in a hotel or something, they just bring you something to eat and you’re happy!
A British man accepted Hanyecz’s offer and bought him the two pizzas in exchange for 10,000 bitcoins. Still, the recipient of the bitcoins got a bargain, paying about $25 for the pizzas, while 10,000 bitcoins were worth about $41.
Laszlo’s BTC purchase announcement on the Bitcoin Forum.
The most expensive pizzas in the world
Since this purchase, Hanyeczs pizzas have become much more expensive. Nine months after the purchase, Bitcoin reached parity with the US dollar, making the two pizzas worth $10,000. In 2015, the fifth anniversary of Bitcoin Pizza Day, the two pizzas were valued at US$2.4 million. On May 22, 2023, Bitcoin was at just over $26,850, making the pizzas worth it… you get the idea.
Despite the huge increase in the price of Bitcoin, Hanyecz says he is not worried about his deal. “It wasn’t like bitcoins had any value back then, so the idea of exchanging them for a pizza was incredibly cool,” Hanyecz said.
Did anyone really pay 10,000 Bitcoins for pizza?
Yes, a person paid 10,000 BTC for two pizzas in 2010, when their prices were much lower than today.
What day is Bitcoin pizza day?
Bitcoin Pizza Day is May 22nd, celebrating the purchase of a 10,000 BTC pizza.
How much was 1 BTC worth on Pizza Day?
According to the conversation on the Bitcoin Forum in 2014, 1 BTC on May 22, 2010 was worth $0.0041, making the purchase value $41.
The end result
Bitcoin’s value has increased significantly since the first Bitcoin Pizza Day, illustrating the cryptocurrency’s impressive growth since its early days, when its value was fungible for no more than a few pizzas. The increase in the value of Bitcoin is proof of its growing acceptance and use in digital transactions around the world.
However, Bitcoin is highly volatile. Its price can fluctuate rapidly, potentially leading to major gains or significant losses. Thus, although Bitcoin’s growth trajectory attracts investors, caution and informed decision-making are key when investing in this cryptocurrency due to its high risk.