Fifteen years ago, a software developer named Laszlo Hanyecz made history by buying two pizzas using 10,000 bitcoins. At that time, the bitcoins were worth about $41. Today, those same bitcoins would be worth an incredible $1.1 billion as bitcoin reaches record high prices.
This event, which happened on May 22, 2010, is now known as “Bitcoin Pizza Day.” It marks the first known time someone used cryptocurrency to buy a real-world product. Bitcoin, created in 2009, was a new digital currency invented by an unknown person or group called Satoshi Nakamoto. It was designed to work without banks or governments.
Hanyecz was an early bitcoin user who mined thousands of bitcoins on his computer. At the time, mining bitcoin was simple and could be done on a home computer. He offered 10,000 bitcoins in exchange for two pizzas, specifying he wanted normal toppings like onions and pepperoni.
Three days later, someone from California accepted the offer and bought the pizzas for him. This trade was an important step for bitcoin, making it real for people who used it.
Since then, bitcoin has grown tremendously. It gained more attention, partly because of its use on online black markets. By 2014, bitcoin was worth around $600. Now, it is seen as a type of “digital gold” and a way to store value. Many companies and even government programs now include bitcoin in their financial plans.
Today, bitcoin trades at about $111,000 per coin, with a total market value of over $2 trillion. Though it is not often used to buy everyday items like pizza anymore, the first pizza purchase remains a famous moment in cryptocurrency history.
Bitcoin Pizza Day is celebrated by crypto fans worldwide. This year, several companies are hosting events and giveaways to honor the day and the legacy of those two pizzas that started it all.
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