Not many know it yet, but there is a Bitcoin Pizza day. Bitcoin has on one hand been making a loud buzz over the last couple of years and Pizza on the other has been capturing taste buds and appetites worldwide with its juicy and filling contents. Bitcoin Pizza Day officially began in 2010 on May 22. Nine years ago today marks the day a man bought a pizza for 10000 Bitcoin, but it is seen more as a tale of Bitcoin adoption.
A certain Laszlo Hanyecz has been known as the Bitcoin Pizza guy over time for the single act of trading 10,000 BTC for Pizza. Hanyecz was a software engineer from Florida had announced at the time on the bitcointalk forum that he was willing to pay 10,000 Bitcoins for the delivery of two Papa John’s pizzas. In his words: “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.”
One BTC was less than a dollar at the time and 10,000 Bitcoins were worth around $41. Today, one bitcoin is worth over $7,000 in the crypto market. That would have been a whopping 70 million dollars spent on two large pizzas in the present time, assuming one bitcoin today equals exactly $7,000.
A British man soon took up Hanyecz’s offer to get the 10000 BTC in exchange for the delivery of Pizza. The British man offered to get the two pizzas for him at the price of $25 for a piece. With the price of bitcoins at the time, that was quite a bargain. Bitcoin became equal with the U.S. dollar Nine months after exchanging his BTC for Pizza, i.e the two pizzas were then worth $10,000. The price of one BTC is worth $7912.62 as of today during this writing.
For the part of the tale that is significant to crypto adoption, this exchange was the first known real-world bitcoin transaction. Hanyecz had made a contribution to crypto adoption whether the reasons for parting with such amount of bitcoin for pizza, was known or not. According to Hanyecz, he doesn’t regret it. The Bitcoin Pizza guy claims that he is proud to have been a backer of Bitcoin and a proponent of its use in the real world that buying the pizza helped legitimize BTC and he doesn’t think about how wealthy he could have been if he had held onto his coins longer. Bitcoin use has gone beyond pizza purchases as we all know. Although it is not globally a celebration day to buy pizzas with bitcoin, companies such as Huobi celebrated Bitcoin pizza day with special offerings for their users. Since the crypto boom in 2017, the course of time has brought a wider acceptance for crypto payments for almost anything. The commemoration may soon become a thing of popular practice every year like the cannabis ‘420’ day.
Credits – Rebecca AssehJOIN OUR COMMUNITY