Cheese, Sauce, and Cryptocurrencies A Tale of 10,000 Bitcoins
What is Bitcoin Day, May 22?
On May 22, 2010, Bitcoin Pizza Day was born! Something historical in the world of finance. The first-ever recorded real-world transaction using Bitcoin took place, and it involved the purchase of two pizzas from Papa John’s by a Florida-based programmer named Laszlo Hanyecz.
You might be thinking, “Big deal, it’s just a couple of pizzas.” But here’s the catch:
Hanyecz paid a whopping 10,000 bitcoins for those two pizzas! At the time, Bitcoin was still in its early stages and was valued at $40.
So, while it might not have seemed like a big deal back then, today, those 10,000 bitcoins are worth approximately $260,000,000! Let that figure sink in for a moment.
What did Papa John’s do with 10 000 Bitcoin?
Laszlo Hanyecz paid 10,000 Bitcoins for two delivered pizzas. Talk about an expensive meal! But Laszlo never regretted spending Bitcoins, unlike what newcomers might think. But despite his high price for Bitcoin Pizzas, Hanyecz remains a staunch supporter of Bitcoin. He recognizes speculation as one of its legitimate functions. Hanyecz sees the potential of cryptocurrencies to disrupt the traditional financial system. And he’s not wrong. Not only did he have a deep appreciation of the concept, but he was the first Bitcoin developer to release the Bitcoin code for Mac OS.
At a time when no one knew what Bitcoin would be, Laszlo gave Bitcoin the ultimate proof it could be used as money.
How much is Bitcoin worth right now in USD?
Bitcoin Pizza Day gave a price to Bitcoin. In recent years, we’ve seen more and more businesses and individuals adopt cryptocurrencies as a means of payment, and the technology behind them continues to evolve and improve. Right now, 1 Bitcoin is worth about $26,996.82.
Bitcoin Pizza Day serves as a reminder of the humble beginnings of Bitcoin and the potential impact it could have on the future of finance. It’s a reminder that even something as simple as a pizza transaction can profoundly affect the world.
Take Away
Bitcoin Pizza Day is more than just a celebration of delicious food; it is also a reminder of the power and potential of technology. So, next time you’re enjoying a slice of pizza, take a moment to think about the man who paid 10,000 bitcoins for two of them.
And who knows? Maybe one day, you’ll be able to buy a pizza with Bitcoin, and you’ll look back on Bitcoin Pizza Day when it all started.
Bitcoin Pizza Day also reminds us that we should never underestimate the value of something just because it seems small or insignificant at the time. You never know what small transaction might end up changing the world. Maybe one day, we’ll celebrate “Dogecoin Taco Day” or “Ethereum Sushi Day.” The possibilities are endless!
