Bitcoin Pizza Day is observed across the world on May 22. The day commemorates the first time cryptocurrency was used to buy products in the real world. Coincidentally, the first item that was bought with cryptocurrency was pizza! On May 22, 2010, Laszlo Hanyecz paid 10,000 Bitcoins to have two Papa John pizzas delivered. Nine months after the purchase, the two pizzas were worth $10,000, while in the year 2015, the two pizzas were valued at a whopping $2.4 million. The Bitcoin price reached a high of $63,000 in 2021, making the two pizzas worth $630 million.
History of Bitcoin Pizza Day
The first bitcoin (B.T.C.) was halved in 2012. A miner was awarded 50 B.T.C. for successfully discovering a new block. This meant that a person only needed to mine 200 blocks to earn 10,000 B.T.C., which was relatively easy, given how few people dealt with Bitcoins.
On May 18, Hanyecz announced on the Bitcointalk.org forum that he wanted to buy pizza — preferably two large ones — using Bitcoin! He offered 10,000 B.T.C. to anyone who would be willing to order, collect, and deliver them to him. In a 2019 interview with C.B.S., Hanyecz told Anderson Cooper he thought the transaction “made [Bitcoin] real for some people. It certainly did for me”. By May 21, he still hadn’t found out who agreed to his Bitcoin pizza transaction. Finally, on May 22, someone accepted his offer. This became a historical moment!
Soon after, the value of those same Bitcoins skyrocketed over the next decade. In fact, if Hanyecz had sold his entire stash at Bitcoin’s all-time high of $68,990, he would have made roughly $690 million — enough to buy 46 million large Papa John pizzas at $15 each. That is enough pizzas to last a lifetime! In honor of this special day, the global crypto community gathers on May 22 each year to commemorate the first physical Bitcoin transaction! The day also reminds Hanyecz that he could have been one-tenth as wealthy as Melinda Gates! What will you buy with your Bitcoins?
Bitcoin Pizza Day timeline
David Chaum establishes DigiCash, which becomes one of the earliest electronic money companies.
The domain name bitcoin.org is registered.
The cryptocurrency is released and is based on the bitcoin code and algorithm.
The first country to accept Bitcoin as a legal tender.
Bitcoin Pizza Day FAQs
Is Bitcoin a good investment?
Bitcoin’s high liquidity makes it an excellent investment vessel for those seeking short-term profit.
How does Bitcoin make money?
New Bitcoins are created as part of the Bitcoin mining process, in which they are offered as a lucrative reward to people who run computer systems that aid in transaction validation.
How do Bitcoins work?
Each Bitcoin is basically a computer file that is stored on a smartphone or a computer ‘digital wallet’ app. People can send Bitcoins (or a portion of one) to your digital wallet, and you can send Bitcoins to others. Every transaction is recorded in a public ledger called the ‘blockchain.’
Bitcoin Pizza Day Activities
Celebrate Bitcoin Pizza Day with pizzas! Order your favorite pizzas and throw a pizza party for all your friends. And instead of paying cash, why not try to pay with Bitcoins today?
Invest in cryptocurrency
So, you have always thought of investing in cryptocurrency, but did not know how to go about it? Why not learn how cryptocurrency works and invest in some on Bitcoin Pizza Day? Good luck!
Another great way to celebrate Bitcoin Pizza Day is by making your very own pizza from scratch. Make the dough, throw on your favorite toppings, and bake it at home. Invite your friends to share with you.
5 Facts About Cryptocurrency
More cryptocurrencies than you can imagine
As of 2022, there are 9,500 different types of cryptocurrencies.
The total amount of bitcoins is limited
There can be no more than 21 million Bitcoins.
N.F.T.s aren’t currencies
N.F.Ts are not cryptocurrencies, despite being considered digital assets.
Dogecoin started as a joke
It was named after the 'doge' meme and was created as a joke in 2013 by software engineers Billy Markus and Jackson Palmer.
The creator of Bitcoin is anonymous
Although the name Satoshi Nakamoto is frequently associated with Bitcoin, the actual person who bears the name has never been verified.
Why We Love Bitcoin Pizza Day
It’s a historic event
Bitcoin Pizza Day signaled a historic event. From this day onwards, real-world goods could be purchased with cryptocurrency. This revolutionized payments and commercial transactions.
It creates an awareness of cryptocurrency
Even today, we know very little about cryptocurrency. There’s a lot of misunderstanding and false information about the subject. Bitcoin Pizza Day, in its own way, raises awareness of cryptocurrency and its purpose.
It encourages investment
Although cryptocurrency is not as popular as cash or other forms of digital payments, experts believe it is the way of the future. On Bitcoin Pizza Day, learn how you can invest in cryptocurrency — the currency of the future.
Bitcoin Pizza Day dates