The Bitcoin community celebrates the anniversary of the first time that Bitcoin was used to buy something, according to internet lore.
As Calvin Tran of Cryptocoin News reports:
In 2010, Florida programmer and BitcoinTalk user Laszlo Hanyecz offered to pay 10,000 Bitcoins for pizza. This transaction is famously known throughout the cryptocommunity as the first real world transaction/purchase made with Bitcoin. It is now known as Bitcoin Pizza Day.
Hanyecz posted on BitcoinTalk that he would give 10,000 bitcoins to anyone who brought him a pizza. Someone in the U.K. took him up on it, ordered two pizzas from Papa John's in Hanyecz’s area, paid $25 for them, and got the 10,000 bitcoins in exchange.
And Bitcoin Pizza Day, May 22, was born.
Bitcoins had no real value back then. They were estimated to be worth three thousanths of a cent (0.003) each, Tran reports. So 10,000 of them were theoretically worth about $30. At the time, Hanyecz was essentially getting the pizza for free.
Flash forward to today, May 22 2024. If the person hung onto those 10,000 coins, with Bitcoin hitting over $70,000, that person would have $700 million worth of bitcoins. That's more than a fair trade for $25 worth of pizza.
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