Ten Years Ago Today, Someone Paid 10,000 BTC for Pizza
Summary
- On May 22, 2010 Laszlo Hanyecz paid 10,000 Bitcoin for two Papa John’s pizza.
- At today’s price, that pizza cost over $90 million.
Today is the 10th anniversary of Bitcoin Pizza Day. Bitcoin Pizza Day celebrates one of the first physical Bitcoin transactions. Ten years ago, on May 22, 2010, a man by the name of Laszlo Hanyecz paid 10,000 BTC for two Papa John’s pizzas.
Released just one year prior, Bitcoin was still a relatively new concept. During the time of purchase, bitcoin had little intrinsic value. If Hanyecz had just decided to keep the Bitcoin, it would have been worth over $90 million today.
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. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy!
Laszlo Bitcointalk Post
In the Bitcointalk post, Laszlo offered early crypto enthusiasts 10,000 Bitcoin for two large pizzas. A few days later, Laszlo posted again: “So nobody wants to buy me pizza? Is the bitcoin amount I’m offering too low?.” However, the next day someone took him up on his offer. Laszlo posted the proof and confirmed the transaction marking one of the first physical Bitcoin transactions.
Bitcoin’s History
The largest and most established cryptocurrency has come a long way since its inception in 2009. Bitcoin has had a volatile price history, surpassing $1,000 in 2013, and losing half of its value the same year. However, the cryptocurrency reached unprecedented levels of mainstream awareness as the price reached an all-time high of $20,000 in December 2017.
The most recent event in Bitcoin’s history was the 3rd Bitcoin halving, reducing the block reward from 12.5 BTC to 6.25 BTC to curve emission. The halving was covered by mainstream media, a testament to how far the cryptocurrency has come since its creation in 2009.
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