Why is BTC Pizza Day celebrated???
Each year, May 22 marks the anniversary of the day a Florida man paid 10,000 BTC for two pizzas in the first Bitcoin transaction. The day has become legendary, first because it was the first commercial use of bitcoins, but more so because of Bitcoin’s worth in the following years. For the two pizzas, the man in question paid a fortune at today's prices.
History of Bitcoin Pizza Day:
On May 22, 2010, now known as “Bitcoin Pizza Day,” Laszlo Hanyecz, the Florida man, agreed to pay 10,000 bitcoins for the delivery of two Papa John’s pizzas. On the Bitcoin Talk forum, Hanyecz reached out for help. “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"
A British man took up Hanyecz’s offer and bought the two pizzas for him in exchange for 10,000 bitcoins. Even then, the recipient of the bitcoins got a bargain, paying about $25 for the pizzas, while 10,000 bitcoins were then worth around $41.
Since that purchase, Hanyeczs’ pizzas have become far more costly. Nine months after the purchase, Bitcoin reached parity with the U.S. dollar, making the two pizzas worth $10,000. In 2015, the fifth anniversary of Bitcoin Pizza Day, the two pizzas were valued at $2.4 million. On May 22, 2023, Bitcoin was at just over $26,850, making the pizzas worth…
At today's exchange rate it would be $687,845,700
