What Is Bitcoin Pizza Day?

We’re not just cheesing — it’s a worldwide celebration! Bitcoin Pizza Day, celebrated annually on May 22, marks a significant milestone in the history of cryptocurrency. It commemorates the first real-world transaction using Bitcoin! This transaction takes place in the United States of America, where two pizzas were purchased for 10,000 BTC.

Today, we at Toobit honour this glorious day with a listicle of all the facts of the original Bitcoin Pizza day and how far cryptocurrency and Bitcoin has come since then. Without further ado — here are 10 facts about Bitcoin Pizza Day!

The Historic Transaction

On May 22, 2010, Laszlo Hanyecz, a programmer and early Bitcoin adopter, made history by purchasing two Papa John’s pizzas for 10,000 BTC. This transaction is widely regarded as the first time Bitcoin was used to buy a physical good. While many people scorn Laszlo's decision to do so, especially considering how much that would be worth today, they fail to realise that without Laszlo's purchase--Bitcoin wouldn't be what it is today!

What Would the Bitcoin Pizza Be Worth Now?

The Value of 10,000 BTC

At the time of the transaction, 10,000 BTC was worth about $41. Today, the value of those Bitcoins would be in the hundreds of millions of dollars, making it one of the most expensive pizzas ever bought. This striking contrast highlights the incredible appreciation in Bitcoin’s value over the years.

The Pizzas

The two pizzas bought by Hanyecz were standard large pizzas with toppings including pepperoni, sausage, and mushrooms. These pizzas have since become a symbol of the early days of Bitcoin and its potential as a medium of exchange.

The Forum Post

Hanyecz’s desire to purchase pizzas with Bitcoin was first announced in a post on the BitcoinTalk forum. In his post, he wrote, “I’ll pay 10,000 bitcoins for a couple of pizzas… like maybe 2 large ones so I have some left over for the next day.” This post has since become a piece of cryptocurrency lore.

The Pizza Provider

A fellow Bitcoin enthusiast named Jeremy Sturdivant, known by his online alias “jercos,” accepted Hanyecz’s offer and arranged the pizza delivery. Sturdivant later spent the 10,000 BTC on various items rather than holding onto them, a decision that many find interesting in hindsight.

Annual Celebrations

Bitcoin enthusiasts around the world celebrate Bitcoin Pizza Day every year by buying pizzas, often using Bitcoin if possible. This day serves as a reminder of how far Bitcoin has come and the growth of the cryptocurrency community.

Laszlo Hanyecz’s Perspective

Hanyecz has stated in interviews that he doesn’t regret his purchase. He views it as an important contribution to Bitcoin’s adoption and proof of concept that Bitcoin could be used in real-world transactions. His perspective is that without such early transactions, Bitcoin might not have gained the traction it did.

The Impact on Bitcoin’s Perception

The Bitcoin pizza purchase helped to shift the perception of Bitcoin from a niche internet currency to a potential mainstream medium of exchange. It demonstrated Bitcoin’s practical application, paving the way for more merchants to consider accepting Bitcoin for goods and services.

Pizza Day Promotions

Many businesses in the crypto space, including exchanges and wallet providers, offer special promotions and discounts on Bitcoin Pizza Day. These promotions often encourage users to engage with cryptocurrencies in fun and rewarding ways.

Educational Value

Bitcoin Pizza Day serves as an educational tool, reminding new and seasoned crypto enthusiasts alike about the volatility and growth potential of cryptocurrencies. It underscores the importance of understanding the value and utility of digital currencies in real-world scenarios.

And with that, we hope that you understand more about this auspicious day in cryptocurrency history! Bitcoin Pizza Day is more than just a quirky celebration; it’s a landmark in the history of cryptocurrency that underscores the growth and evolution of Bitcoin. As we enjoy a slice on May 22, we remember the humble beginnings of Bitcoin and look forward to its future possibilities. Whether you’re a long-time Bitcoin holder or new to the crypto scene, Bitcoin Pizza Day offers a moment to reflect on the incredible journey of digital currency.

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