Bitcoin Pizza Day is a great name for a holiday celebrating Bitcoin. The date, May 22, 2010, marks the first time a Bitcoin was used to purchase goods: two pizzas. For the first time ever, bitcoin was used to purchase actual items. (that we know of).
The individual in question was an early Bitcoin miner and programmer from Florida; his name was Laszlo Hanyecz.
Each miner was awarded 50 bitcoins for finding a new block before the first bitcoin halved in 2012. This meant that, at the time, all it took to earn 10,000 BTC was to mine 200 blocks, which wasn’t too tough given the low level of competition.
On May 18th, Hanyecz posted on the Bitcointalk.org forum that he was hoping to use Bitcoin to purchase two huge pizzas. Anyone willing to place an order, retrieve the coins, and deliver them to him would receive 10,000 BTC. Someone mentioned that on one trading website when BTC was priced at less than half a cent per coin, he might obtain $41 for those bitcoins.
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During an interview with CBS’s Anderson Cooper in January 2019, Hanyecz said he believed the deal “made [bitcoin] real for some people.” For me, it most emphatically did.
On May 21st, he was still looking for someone to split a Bitcoin pizza with. The next day, someone finally accepted his offer. A momentous action that posterity will remember forever.
I’d like to share the news that I recently exchanged 10,000 bitcoins for pizza. Papa John’s made the pizzas, but Hanyecz got them from Jeremy Sturdivant, a 19-year-old who resold them. (username “jercos”).
Naturally, the value of those bitcoins rose significantly over the next decade. If Hanyecz had sold all of his bitcoins at the record high of $68,990, he would have profited around $690 million, which is enough to purchase 46 million large pizzas from Papa John’s at a cost of $15 each.
Each year on May 22, the global crypto community gathers to commemorate the first-ever physical Bitcoin transaction and to remind Hanyecz that he could have become one-tenth as wealthy as Melinda Gates had he taken advantage of the opportunity.
