Roo's All-In Giveaway, $300,000 in Prizes

What Is The ‘Bitcoin Pizza’ Day Event

What Is The 'Bitcoin Pizza' Day Event

Content provided by various contributors. DYOR.

Bitcoin Pizza Day, celebrated every year on May 22nd, is a significant occasion in the Bitcoin community. This date commemorates the first recorded instance of a physical good being purchased using Bitcoin. The event occurred on May 22, 2010, when Laszlo Hanyecz spent 10,000 Bitcoin to buy two pizzas from Papa John’s. Because the pizza chain did not accept Bitcoin as payment then, Hanyecz posted an offer on to trade 10,000 Bitcoins for two pizzas. A 19-year-old named Jeremy Sturdivant accepted the offer, bought the pizzas for an estimated $41, and delivered them to Hanyecz​.

This event might seem trivial, but it has since become a symbolic representation of the early days of Bitcoin and a reminder of how far the community has come. The Bitcoin community worldwide marks May 22nd as a day of celebration by buying and sharing pizzas. Some pizza restaurants even contribute to the festivities by offering discounts to customers who pay with Bitcoin​.

When Hanyecz received his pizzas, he responded enthusiastically on the forum, indicating his willingness to repeat the transaction and pay 10,000 Bitcoins for future pizza deliveries. This exchange is now regarded as one of the key milestones in Bitcoin’s history, marking the first tangible validation of the cryptocurrency’s potential as a medium of exchange​.

One of the immediate responses to this story is to evaluate the dollar value of the Bitcoin spent on the pizzas today. For example, if one Bitcoin traded at $33,064.19, the 10,000 Bitcoin would be worth $330.6419 million. While, in retrospect, it might seem like a poor financial decision to spend Bitcoin on pizza, it’s important to remember that the future of Bitcoin and its potential value was far from certain at the time.

The significance of Bitcoin Pizza Day extends beyond the Bitcoin community’s nostalgia. This event symbolizes the inception of Bitcoin as a disruptive technological innovation and a new form of “sound money.” In the aftermath of the 2008 global financial crisis, the world was beginning to question existing economic models and policies and the concept of money as a store of value. The Bitcoin pizza transaction, which occurred just two years after the crisis, symbolized a new hope. It marked the birth of a decentralized, tamper-proof, sensor-proof digital currency with a capped supply of 21 million, which could be sent and received without permission, an innovation the world had not seen before.

Today, Bitcoin’s infrastructure has significantly advanced, allowing users to buy pizza using Bitcoin on the Lightning Network, a layer-2 solution that reduces transaction costs to mere cents. Thousands of merchants now accept Bitcoin payments for pizza and other products. The need to post a Bitcoin offer on a forum like to purchase a product is no longer required, illustrating just how far Bitcoin has come since Bitcoin Pizza Day​.


Bitcoin live price
price change

Bitcoin Pizza Day is a celebration of the genesis of Bitcoin’s practical use case, a story of technological evolution, and a testament to the potential of a decentralized future. The celebration serves as a reminder of Bitcoin’s journey, its roots, and its potential to shape our understanding of money and commerce.

Read more from author

Editor's picks

Are Metaverse Assets Being Taxed?

The metaverse, which has gained significant traction in recent years, refers to a collective virtual shared space created by the convergence of virtually enhanced physical reality and physically persistent virtual reality. As the metaverse continues to grow and evolve, it brings forth many opportunities and challenges, one of which is the taxation of metaverse assets. This guide delves into the complexities surrounding the taxation of assets in the metaverse. The Current Landscape of Metaverse Taxation According to a PwC article,…

Best Crypto Day Trading Strategies

Range Trading Description: A cryptocurrency will often trade for a long time inside a certain range. For instance, Bitcoin traded between $8,601.40 and $10,210 for 30 days. Cryptomarket caps are small enough to be manipulated by a single big mover. If you notice these patterns, you can take advantage of them. How to Use: Pay attention to overbought and oversold zones. Overbought means buyers have saturated their needs, and the stock will probably sell off; oversold means the opposite. Chart…

How to Transfer Crypto With No Fees or With Minimum Fees

Cryptocurrency has revolutionized how we transact money, but one of the challenges many users face is the associated fees. Here's a guide to help you minimize or even avoid these fees! Understanding the Basics of Crypto Transactions Cost: Most cryptocurrencies charge transaction fees to compensate miners who confirm transactions and maintain the blockchain. These fees can vary based on the currency's design, current transaction volumes, transfer speeds, and the number of individual transactions bundled into your transfer. Some third-party services…

Ares NFT Tokenomics: Showcasing the Rarity Tiers and Investment Opportunities

More than ever before, people are getting curious about the potential of NFTs. Many projects are launching every day. But it's important to invest in projects that have a real-world impact.  Ares NFT is a unique project in the NFT space that will change people's lives and offer real-world value to people. It membership is divided into Rare, Super-rare, Legendary, and Ultimate. This article reveals the depth of Ares NFT tokenomics, shedding light on the investment possibilities that await young…

Top 3 Sniper Bots That Will Change How You Trade on DeFi

Recently, there has been a surge in the popularity of DeFi and Telegram trading bots. These bots have become popular among traders looking to navigate the volatile cryptocurrency market and simplify their trading experience. By blending automation with comprehensive data and insights, trading bots assist traders in making well-informed decisions and optimizing their strategies. These bots have garnered attention from both retail investors and seasoned traders due to their accessibility and user-friendliness, all while offering advanced functionalities. They aid in…

Best DeFi Lending Platforms With the Best Rates for 2023

Introduction to DeFi Lending Platforms Decentralized Finance (DeFi) has revolutionized the traditional financial system, offering a more transparent, efficient, and inclusive alternative. Among the myriad DeFi applications, lending platforms have emerged as a cornerstone, enabling users to lend and borrow assets without intermediaries. How to Use DeFi Lending Platforms Choose a Platform: Research and select a platform that aligns with your needs. Connect a Wallet: Link a cryptocurrency wallet like MetaMask or Trust Wallet. Deposit Assets: Transfer your crypto assets…

Blockchain in Healthcare – Use Cases in Digital Health

The digital transformation of the healthcare sector has been nothing short of revolutionary. The industry has embraced technology from telemedicine to electronic health records to improve patient outcomes and streamline operations. One of the most promising technologies to emerge in recent years is blockchain. Originally designed for digital currencies like Bitcoin, blockchain's potential applications in healthcare are vast and varied. In this article, we will delve into blockchain use cases in digital health, highlighting its transformative potential. Introduction to Blockchain…

How Blockchain Technology Can Be Used In Education

Blockchain technology, most commonly associated with cryptocurrencies like Bitcoin, has been making waves in various industries due to its decentralized nature and the ability to store data in blocks linked chronologically. This makes tracing data's origins and verifying its authenticity relatively straightforward. One industry where blockchain is beginning to make an impact is education. 1. Blockchain for Student Records: The use of blockchain in education is primarily for storing and sharing academic records and credentials. The number of student records…

How to Easily Earn Crypto Rewards

The cryptocurrency world has evolved rapidly, offering numerous opportunities for individuals to earn rewards. As the crypto economy grows, there are more ways than ever to earn rewards for holding crypto, learning about crypto, or interacting with decentralized finance (DeFi) apps. This article delves into various methods to earn crypto rewards easily. 1. Staking: Staking is a process where you deposit and lock up a certain amount of cryptocurrency to support the operations of a blockchain network. In return, you…