Bitcoin Pizza Day marks the first real-world Bitcoin purchase, showing how 10,000 BTC for pizzas in 2010 is now worth over $1.1 billion.
By Godfrey Benjamin
Editor Julia Sakovich
Updated
3 mins read
The 15th anniversary of the infamous Bitcoin Pizza Day is celebrated today. Historically, this event reminded the world of the first time Bitcoin BTC $96 611 24h volatility: 2.1% Market cap: $1.92 T Vol. 24h: $29.09 B was ever used to buy a real product. On May 22, 2010, a Florida-based programmer, Laszlo Hanyecz, made history by purchasing two Papa John’s pizzas with 10,000 Bitcoin units. At the time, the coins were valued at about $41. Today, that same amount is worth over $1.1 billion.
Based on history, Hanyecz, residing in the United States, was a software developer and one of the early adopters of Bitcoin. He posted on a forum offering 10,000 BTC in exchange for two large pizzas.
According to reports, another user helped him complete the transaction. The two Papa John’s pizzas he purchased with Bitcoin were delivered to Hanyecz’s door. Over the years, the event has become known as the first recorded commercial transaction using Bitcoin. This move changes the currency from experimental code into a usable form of money.
It is worth noting that Bitcoin was largely discussed only in tech circles when the transaction occurred. It had no formal value in stores, and most people had never heard of it. Hanyecz, who mined the coins when Bitcoin traded below a penny, later said he had no regrets.
In an interview years later, Laszlo Hanyecz explained that the transaction made Bitcoin feel real to him, even though the coins would later be worth millions. Despite this, he missed a major opportunity to become one of the world’s richest Bitcoin holders.
Today, Bitcoin enjoys wide adoption, and that trend is not slowing down. For example, Coinspeaker recently reported that Strategy, a top business intelligence and software company, purchased 7,390 Bitcoins for $764 million. This brings its total Bitcoin holdings to 576,230 BTC.
In a similar move, Hong Kong-based Top Win International has rebranded to AsiaStrategy. The company is embracing Bitcoin as a treasury asset. This places it among the growing list of firms, including Metaplanet, that are adding Bitcoin to their corporate treasuries across Asia.
It is worth mentioning that on the 15th anniversary of Bitcoin Pizza Day, the largest digital asset has hit a new record. Early on May 22, Bitcoin surged past $111,800 before a slight correction. As of writing, CoinMarketCap data shows it is trading at $110,497.18, up by 3.86%.
Based on general sentiments, the timing is seen by many as a fitting tribute to the day that showed Bitcoin could work outside of online forums. The remarkable increase in value shows how much the BTC market has changed. What once bought dinner can now purchase over 70 million pizzas or luxury homes and cars.
In fact, in some countries, Bitcoin has been considered legal tender. While the pizza transaction is often seen as a mistake because money is left on the table, many in the crypto world view it as a symbol of progress.
Interestingly, there are now websites that track various holidays related to cryptocurrency. Bitcoin Pizza Day remains the most iconic of them all. It serves as a reminder of how far the largest digital asset, Bitcoin, has come over the years.
What started as an idea shared among a small group has become one of the world’s most valuable assets. In market value, it has surpassed long-established names like silver and Amazon.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
