Bitcoin Pizza
Bitcoin Pizza refers to the historic event on May 22, 2010, when a programmer named Laszlo Hanyecz agreed to pay 10,000 BTC for two delivered Papa John’s pizzas. This transaction is famously recognized as the first real-world purchase made with bitcoins, highlighting its potential as a functional currency. The day is celebrated in the crypto community as Bitcoin Pizza Day.
What is Bitcoin Pizza?
In 2010, the concept of Bitcoin was still in its infancy, and its practical uses were mostly theoretical.
On May 22, Laszlo Hanyecz, a Florida programmer, posted on a Bitcoin forum that he was willing to pay 10,000 bitcoins for a couple of pizzas. A fellow enthusiast accepted this offer and ordered two large pizzas for Hanyecz, costing about $25.
This transaction tested Bitcoin’s real-world value and marked the first documented purchase of a tangible good with cryptocurrency.
Why is Bitcoin Pizza Significant?
The Bitcoin Pizza purchase is a landmark moment in the history of digital currencies because it transformed Bitcoin from an abstract idea into a medium of exchange for real-world goods. At the time, 10,000 Bitcoins were worth approximately $41.
Today, those Bitcoins would be worth millions, illustrating the immense appreciation and volatility of digital currencies. This event symbolizes the potential and growth of cryptocurrencies and is celebrated yearly as a pivotal moment in the adoption of blockchain technology.
The Value That Could Have Been
What makes this story so extraordinary is the value those 10,000 BTC would hold today. The wild fluctuations in Bitcoin’s price over the years turned these two pizzas into some of the most expensive pies in history! At various points, they would be “worth” hundreds of millions or even billions of dollars.
You can try the conversion using Paybis BTC to USD calculator.
Laszlo Hanyecz has become a lighthearted symbol within the cryptocurrency community. Despite the astronomical potential value lost, he has no regrets. In interviews, he emphasized that at the time, the transaction was successful precisely because Bitcoin didn’t have the same perceived value — it was about proving that the cryptocurrency could be used in the real world.
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