Every year on May 22, the cryptocurrency community comes together to commemorate a special event known as Bitcoin Pizza Day. This day marks the anniversary of the first-ever recorded real-world transaction using Bitcoin, which took place fourteen years ago when Floridian programmer Laszlo Hanyecz bought two pizzas for 10,000 BTC.

The Bitcoin Pizza Day Backstory

On May 18, 2010, Hanyecz made a post on the Bitcointalk.org forum, stating that he wanted to use Bitcoin to buy two large pizzas. He offered 10,000 BTC to anyone who could place the order and deliver the pizzas to him, with the only condition being that crypto payments should be available.

In his own words, Hanyecz stated, “I’ll pay 10,000 Bitcoins for a couple of pizzas. Like maybe 2 large ones so I have some leftovers for the next day. I like having leftover pizza to nibble on later. If you’re interested, please let me know and we can work out a deal.”

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Despite his offer, Hanyecz struggled to find someone willing to accept his proposal. One user even remarked that 10,000 BTC was “quite a bit” for two large pizzas and suggested that Hanyecz sell his crypto holdings for $41 instead.

The Historic Transaction

After a couple of days without success, Hanyecz’s luck finally turned around. On May 22 at 19:17, he updated his own post with a picture of the pizzas, stating, “I just wanted to report that I traded 10,000 Bitcoins for pizza.” A British man had taken up Hanyecz’s offer and purchased the two pizzas for him in exchange for the 10,000 BTC, which were worth approximately $41 at the time.

As time passed, the value of those two pizzas purchased with 10,000 BTC skyrocketed. Nine months after the transaction, Bitcoin reached parity with the U.S. dollar, making the pizzas worth $10,000. By the fifth anniversary of Bitcoin Pizza Day in 2015, the pizzas were valued at an astonishing $2.4 million.

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This plaque resides on the Jacksonville, Florida Papa Johns. pic.twitter.com/yGYLlwCAcl

— Documenting ₿itcoin (@DocumentingBTC) May 22, 2021

Today, with Bitcoin trading at around $71,000, those same pizzas are worth an incredible $710 million. To honor this historic purchase, a plaque has been placed at Papa John’s in Jacksonville, Florida, which reads, “Papa John’s. Makers of the famous Bitcoin Pizzas. May 22, 2010.


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