Bitcoin Pizza Day is an annual celebration that commemorates the first recorded transaction where bitcoin was used to purchase physical goods. It took place on May 22, 2010, when a programmer and early bitcoin miner named Laszlo Hanyecz bought two large pizzas using 10,000 BTC.
At the time of the transaction, bitcoin was still in its early stages, and the concept of using a digital currency to buy real-world items was groundbreaking. Hanyecz's announcement on the Bitcointalk.org forum garnered attention, as he offered 10,000 BTC to anyone who would order, collect, and deliver the pizzas to him.
Initially, finding someone willing to fulfill the bitcoin pizza order proved challenging for Hanyecz. However, on May 22, someone named Jeremy Sturdivant (username "jercos") accepted the offer, and Hanyecz successfully traded 10,000 bitcoins for the pizzas. The pizzas were made by Papa John's but were bought secondhand from Sturdivant, who was 19 years old at the time.
Looking back, the appreciation of bitcoin's value over the following years made the pizza transaction remarkable. If Hanyecz had held onto his bitcoins and sold them at their all-time high of $68,990, he could have made approximately $690 million. This astronomical increase in value emphasizes the significance of the Bitcoin Pizza Day event.
Every year on May 22, the global crypto community gathers to celebrate Bitcoin Pizza Day. It serves as a reminder of the early adoption of cryptocurrencies and the tangible impact they can have on everyday transactions. With the current value of 10,000 BTC reaching around $267 million, the event highlights the tremendous growth and potential of bitcoin and other digital currencies.