May 22, known as Bitcoin Pizza Day, is an historic event that marks the first time bitcoin was used as a means of exchange. On May 22, 2010, a Florida man, Laszlo Hanyecz, spent 10,000 BTC to pay for two large Papa John’s Pizza.
How Did This Happen?
Eleven years ago, Hanyecz, a programmer and Bitcoin miner, was having fun at the time and decided to make a post on Bitcointalk saying;
“I’ll pay 10,000 Bitcoins for a couple of pizzas… like maybe two large ones so I have some left over for the next day.”
His request caught another user who immediately agreed to the offer. However, Laszlo did not get his pizzas immediately. He waited for four days for the pizza to get to him.
At the time, bitcoin’s value was almost nothing compared to its current price. According to reports, 1 BTC was estimated to be $0.004.
Eleven years later bitcoin reached an all-time high of $63,000, and with bitcoin currently trading at $38,000 due to China’s recent FUD, the two pizzas are now worth $380 million. That’s a 950 million percent increase in price.
Meanwhile, Laszlo did not just spend 10,000 BTC on two pizzas. He continued to buy more pizzas with the bitcoin he mined and spent at least 100,000 BTC on his pizza buying spree, which would be worth $3.8 billion as per the current market price.
Does Laszlo Regret It?
Only if Laszlo had held his Bitcoin till today…
Well, no one truly knows whether he regrets it or not but he has come out to say that he doesn’t regret his actions. In fact, Laszlo is grateful that he got to be part of early Bitcoin history that way. There wouldn’t have been a Btc Pizza Day until 2021 if he hadn’t made the historic purchase.
Who Celebrates Bitcoin Pizza Day?
Before 2021, every cryptocurrency lover is known to celebrate Btc Pizza Day. Meanwhile, different crypto-related companies are celebrating the event in different ways. For instance, PizzaDAO, a community of digital artists creating Pizza NFT, launched a Rare Pizzas NFT project to celebrate the event.
“We’re inviting the world to join us at our pizza party,” said PizzaDAO’s Sam Weinrott.
So far, the NFT has been sold for $1.5 million since March this year.
Slice, a platform that controls the biggest band of pizzerias in the United States, is not left out of the celebration. Slice partnered with Rare Pizzas to give 1 BTC worth of pizzas to members of the crypto community.
It is also good to note that Bitcoin Pizza Day is not the only holiday observed by the industry. The crypto community celebrates various events such as Gold Parity Day, Bitcoin Birthday (proof of key), and Bitcoin Foundation Day just to mention a few.
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