Each year, the Bitcoin community enthusiastically celebrates Bitcoin Pizza Day to commemorate a significant milestone in cryptocurrency's history: the first-ever real-world transaction completed with Bitcoin.
The event holds great symbolic value, as it highlights Bitcoin's potential to revolutionize traditional financial systems. The day also reminds us of the immense growth and adoption the cryptocurrency has experienced since its early days.
This is no cheesy tale — it's the story of a monumental moment in Bitcoin history. On May 22, 2010, Laszlo Hanyecz forever etched his name in cryptocurrency history by purchasing two pizzas for a whopping 10,000 BTC, equivalent back then to a mere $41.
Little did he know that this experimental transaction would become a remarkable testament to Bitcoin's astonishing growth. If Hanyecz had chosen to suppress his pizza craving and hold onto those 10,000 BTC instead, he'd now be sitting on a digital fortune worth an astounding $651 million (at the time of writing).
TL;DR
Bitcoin Pizza Day commemorates the first real-world Bitcoin transaction made by Laszlo Hanyecz on May 22, 2010.
Hanyecz purchased two pizzas for 10,000 BTC, now worth $651 million.
Bitcoin's first transaction showed how the virtual currency could change traditional financial systems.
Jeremy Sturdivant, who helped buy the pizza, used Bitcoin for travel, not knowing its future value.
Celebrating Bitcoin Pizza Day includes eating pizza, donating Bitcoin, learning about Bitcoin, and supporting Bitcoin merchants.
The origins of Bitcoin Pizza Day
In the early days of Bitcoin, when no pizza restaurant accepted cryptocurrency as payment, Laszlo's hunger couldn't be deterred.
With the lack of options, the early Bitcoin miner turned to the bitcointalk forum, penning a request that would make history: "I'll exchange 10,000 bitcoins for a couple of pizzas... maybe two large ones, so I'll have some leftovers for tomorrow," declared Hanyecz.
Desiring the convenience of a meal without the hassle of preparation, Laszlo compared it to a hotel breakfast platter, envisioning a seamless food delivery in exchange for bitcoins.
Replying to his post, Jeremy Sturdivant, another user on the forum, rose to the occasion and ordered two large pizzas from Laszlo's local Papa John's. The total bill amounted to approximately $25, an incredible bargain considering that 10,000 BTC was worth just $41.
With anticipation in the air, Laszlo's taste buds rejoiced as the pizzas arrived adorned with a delicious array of onions, peppers, sausage, mushrooms, tomatoes, and pepperoni. He made it clear that fish was to be omitted from his culinary delight, and he even embraced the idea of plain cheese if it meant keeping costs down.
Did Jeremy keep the 10k BTC?
Surprisingly, Jeremy ultimately used the entire 10k BTC to fund his travels. However, he did acknowledge that if he had perceived Bitcoin as an investment, he'd have retained it longer. In a separate interview, he confessed that he had no clue of the immense status Bitcoin would reach.
While many of us would grapple with the fear of missing out (FOMO) and regret not holding onto it, Jeremy took pride in his contribution to Bitcoin Pizza Day. In 2010, Laszlo estimates that he alone spent 100k BTC on pizza. Had he retained those 100k BTC, its value would have exceeded $2.7 billion today. Like Jeremy, Laszlo harbors no FOMO and is at peace with his contribution to that historic day.
How to celebrate Bitcoin Pizza Day
Eat pizza: It's the obvious way to celebrate, but now would be a great time to gather some friends and support your local pizzeria or order a pizza. Or, invite friends over to make a pizza, and get creative with your toppings — we won't judge you if you're a fan of pineapple pizza (honestly).
Donate your Bitcoin: Consider donating Bitcoin to a charitable organization that accepts cryptocurrencies. Alternatively, support a Bitcoin protocol looking for community donations. Use the occasion to give back and support causes that align with your values.
Learn about Bitcoin: Take the time to deepen your understanding of Bitcoin, Satoshi, and the underlying technology. Whether you're a crypto native or crypto curious, there's always something new to learn.
Support Bitcoin merchants: As Bitcoin adoption is becoming easier for restaurant owners and merchants, consider taking the time to support those that have taken the leap to accept the digital currency. Today, more and more online shopping platforms are accepting Bitcoin. So, whether you're buying a pizza or a product, pay with Bitcoin to help promote the adoption of cryptocurrencies in daily transactions.
What's your favorite pizza topping?
About six years ago, a Bitcoin Reddit community member photoshopped a fake response from Satoshi, in which the founder proclaimed that "pineapple and jalapenos" make good pizza toppings. Someone mentioned that this combo is called the Volcano.
Different countries have their own twists on pizza toppings. Would you try any of these toppings on Bitcoin Pizza Day?
Crocodile: In Australia, you can find pizza topped with crocodile meat. It offers a unique flavor, unlike any other meat topping.
Kangaroo: Kangaroo meat is lean and gamey. It's another unique pizza topping in Australia.
Banana curry: In Sweden, people like to put bananas, curry powder, and peanuts on their pizza.
Reindeer: Reindeer meat is used as a pizza topping in Finland for its rich flavor.
Caviar: If you want to upgrade your anchovies, how about caviar? It adds a touch of luxury and provides a salty, fishy flavor.
Gold flakes: Edible gold flakes put a little "bling" on your pizza.
Scorpions: Some places in Asia use crunchy scorpions as pizza toppings.
Squid ink: In Japan, you'll find pizzas made using squid ink. This gives them a unique black color and a briny seafood flavor.
Peas: Pizzas in Brazil often feature green peas for an added sweet crunch.
Frog legs: Frog legs are sometimes used as a topping in France. They have a delicate, slightly chewy texture.
The final word
Bitcoin Pizza Day is intended as a day of fun and celebration with "frens" in the Bitcoin community. Don't take it too seriously, but it's mind-blowing to think about how 10,000 BTC was once worth $41.
With innovations like BitPay, buying goods with Bitcoin isn't as far-fetched as was back in 2010, when Laszlo Hanyecz purchased two pizzas for 10,000 BTC.
FAQs
Bitcoin Pizza Day falls each year on May 22 and marks the first real Bitcoin transaction. In 2010, Laszlo Hanyecz bought two pizzas for 10,000 BTC, making history in cryptocurrency.
In 2010, Laszlo Hanyecz bought two pizzas for 10,000 BTC. At the time, Bitcoin was worth $41. Today, those Bitcoins are worth $651 million.
A bitcointalk user named Jeremy Sturdivant helped Laszlo Hanyecz buy two pizzas using 10,000 BTC. He later used the BTC to fund his travel plans, unaware of its future value.
People usually celebrate Bitcoin Pizza Day by eating pizza, donating Bitcoin to charitable organizations, learning more about Bitcoin and its technology, and supporting merchants that accept Bitcoin as payment.
Laszlo Hanyecz doesn't regret spending 10,000 BTC on pizzas. He sees his contribution to Bitcoin Pizza Day as an important part of Bitcoin's history, even though Bitcoin is worth much more now.
