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Bitcoin Pizza Day explained

This year marks the 11th-anniversary date where in 2010, a Florida man Laszlo Hanyecz paid for two pizzas with this digital money.

ramen pizza
Image: KnowTechie

Some people know May 22 as Bitcoin Pizza Day. This year marks the 11th-anniversary date where in 2010, a Florida man Laszlo Hanyecz paid for two pizzas with this digital money.

What’s more, Hanyecz is also the first person to use Bitcoin in a commercial transaction. On May 22, 2010, Laszlo Hanyecz paid 10,000 Bitcoins for two Papa John’s pizzas.

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Since then, Hanyecz’s pizzas have gotten more expensive.

Around nine months after the purchase, Bitcoin reached parity with the US dollar, making the two pizzas worth $10,000, while in the year 2015, the two pizzas had a value of 2.4 million.

On its 11th anniversary in 2021, the price of this virtual asset reached a high of $63,000, so the two pizzas were worth $630 million.

Here’s a list of interesting facts in honor of the 11th anniversary of Bitcoin Pizza Day.

Bitcoin Pizza Day isn’t the first Bitcoin holiday

scorpio pizza oven crowdfunding campaign on a picnic table
Image: Scorpio

Bitcoin enthusiasts have created holidays for almost as long as the technology has existed.

For instance, Bitcoin users marked the disappearance of Bitcoin creator Satoshi Nakamoto, who had recently stepped down from his role as project lead, and declared April 28, 2011, as Satoshi Disappear Day.

At the time, Kiba, a popular user of the asset, proposed to make a Bitcoin holiday in honor of their legendary anonymous founder and observe that the Bitcoin community would be just fine after the inventor of Bitcoin left.

Laszlo Hanyecz had to wait four days to get his pies

According to Bitcoin Magazine, Hanyecz had waited for a while for his order. Hanyecz posted on Bitcoin.org forums on May 18, the time of the writing.

He had suggested that he pay 10 000 Bitcoins for two large Pizzas so that he had some leftovers for the next day. Laszlo claimed he loved having leftover pizza that he could consume later on.

He did not receive his pizza until Saturday. By Friday, some even reached out about Hanyecz’s health, with user BitcoinFX asking if he was getting hungry.

On the other end, Hanyecz replied that it would be interesting if he claimed that he paid for pizza with Bitcoins.

The transaction occurred at around 2:16 p.m. EST, according to records supported by Bitcoin talk. 

Hanyecz bought more than two pizzas with Bitcoin

Hanyecz didn’t stop with two pizzas only. He pushed the limit in June by adding that the deal was an open offer.

On June 12, he wrote, “I will trade 10,000 BTC for two of these pizzas any time as long as I have funds so, if anyone is interested, please let me know.”

Jercos eventually sold his Bitcoin

bitcoin

As the Bitcoin Pizza Day holiday grew, it wasn’t long before Jeremy Jercos Sturdivant would be thrust back into the limelight.

He had to give his only interview to a website called “Bitcoin Who’s who” in 2015, five years after the trade.

Along with that, Jeremy Jercos was the counterparty of Laszlo Hanyecz in the first documented purchase of a tangible good or service using Bitcoin. 

At that time, Sturdivant had claimed that a currency had to be spent, noting that the 10,000 BTC he had received made it back to the economy quickly.

The bottom line

This article has helped us understand the Bitcoin Pizza Day holiday concept.

Hanyecz claimed that this digital asset did not have that much value back then, so the idea of trading them with pizza was incredibly excellent.

Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.

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Chris has been blogging since the early days of the internet. He primarily focuses on topics related to tech, business, marketing, and pretty much anything else that revolves around tech. When he's not writing, you can find him noodling around on a guitar or cooking up a mean storm for friends and family.

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