banner
banner

Bitcoin Pizza Day: What is it and How Pizza Delivery was Involved?

As avid pizza fans, we know that National Pizza Month is October and that National Pizza Day is Feb. 9.

But have you ever heard of Bitcoin Pizza Day?

If you’re not a participant or observer of the cryptocurrency community, it’s likely you go about your day on May 22, unaware that this holiday is being commemorated and celebrated by avid Bitcoin advocates. After all, what does this digital currency have to do with pizza?

Well, it turns out that the two are very much connected.

To sum it up shortly, Bitcoin Pizza Day marks the first time Bitcoin was supposedly ever used to pay for tangible consumer goods. And in this case, the goods that were being purchased in this momentous first-ever transaction were two pizzas.

Here are a few more details on the holiday, which is viewed as a milestone event in the cryptocurrency world:

On May 18, 2010, the programmer Laszlo Hanyecz posted on a Bitcoin forum that he would trade 10,000 Bitcoins to an individual who could facilitate the delivery of two pizzas to his home in Jacksonville, Florida. Hanyecz estimated the pizzas to cost around $25. And in the early days of Bitcoin — which was created in 2009 — the cryptocurrency carried a value of less than 1 cent.

At the time, Hanyecz wrote, “I just think it would be interesting if I could say that I paid for a pizza in Bitcoins.”

Ultimately, somebody decided to take Hanyecz up on his proposition. Several days after the initial post, on May 22, the programmer happily informed the forum that, alas, the transaction had been successful. Thus, Bitcoin Pizza Day was born.

Every year, on May 22, Bitcoin holders and enthusiasts buy pizzas to celebrate the first recorded instance where Bitcoin was exchanged for goods. They also post incessantly about the holiday on Twitter.

But, what’s more noteworthy than the transaction’s historic nature is the price Hanyecz paid for the pizza. The value of Bitcoin has exploded since May 22, 2010 and the cryptocurrency is worth exponentially more than it was nine years ago. As of this post’s time stamp, the two pizzas would be worth nearly $34.7 million. (This will likely need to be change.)

Think of how many pies you could order with that much cash.

So, on May 22, consider celebrating Bitcoin Pizza Day by eating a pizza, or two. Because, even if you’re not investing in cryptocurrency, the anniversary is an excellent excuse to order a few pies from your local pizzeria.

— Melanie Lawder

Leave a Reply