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- 1 Bitcoin Pizza Day is an unforgettable day for Bitcoin founder Satoshi Nakamoto.
- 2 The day was celebrated on the occasion of Bitcoin’s first-ever real-world transaction.
Buying something with digital currency was a dream before 2010. On May 22, 2010, the first-ever real-world transaction using Bitcoin was made. The day was considered one of the most memorable days in Bitcoin’s history.
Let’s browse the complete story of Bitcoin Pizza Day.
The Pizza Story
Before knowing the complete story of Bitcoin Pizza Day, it is crucial to get in-depth knowledge of Bitcoin.
Bitcoin (BTC), the first and oldest cryptocurrency, was introduced to the world in 2008 by Satoshi Nakamoto, a computer programmer. The digital asset is considered one of the largest and most powerful crypto in the space. One of the main reasons behind the digital asset launch is the release of a peer-to-peer payment method.
In 2008, Bitcoin held a value of $0 and reached $0.0009 in 2009. With every passing day, the currency progressed, reaching $0.30 in 2010 with the latest price of $29,410.05. Offering a cash system that wouldn’t rely on the banks or any third party for making electronic transactions is one of the main rationales behind the launch.
The Chronology of Events
On May 22, 2010, Bitcoin was first ever used for making a transaction. Laszlo Hanyecz bought two large-sized pizzas with Bitcoin. Laszlo Hanyecz was a Floridian programmer and also a Bitcoin miner.
On May 18, 2010, Laszlo announced that he was looking to purchase pizza using BTC. He was ready to offer 10K BTC to anyone who offered large-size pizza in exchange for BTC.
On May 22, he got a call from someone who was ready to accept the offer.
Laszlo Hanyecz celebrated the victory by announcing the same on a forum called Bitcointalk.org.
“I just traded 10,000 BTC for pizza, made by Papa John and received from a 19-year-old named Jeremy Sturdivant”, announced Laszlo.
The price of BTC at the time of the deal was approximately $68,990 and by the end of 2010, the value of BTC was around $0.80. Nine months later, the Pizza was valued at $10,000 whereas in 2015, the value reached $2.4 Million. This all happened due to the rapid growth of Bitcoin’s value and popularity over time.
However, the Bitcoin Pizza Day not only made the coin successful in the world but also explained the possibilities for launching more than 19,000 different cryptocurrencies.
Current Stats of Bitcoin
The current price of BTC is $25,753.31 with a market cap of $502 Billion, a decline of 0.12% in the past 24 hours. The current volume is $18 Billion, an upsurge of 113.61% with a circulating supply of 19,483,162.
Notably, the respective digital assets can be purchased from crypto exchanges including Bybit, Cointr Pro, Deepcoin, OKX, etc.
Conclusion
Bitcoin Pizza Day is one of the most remarkable days in Bitcoin’s history. The first-ever, real-world transaction using BTC was carried out on May 22, 2010, by Laszlo Hanyecz. About 10k Bitcoins were spent by Laszlo to purchase two large-size pizzas.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
