Back in 2010, Laszlo Hanyecz made history. Driven by Bitcoin and the hunger for a hot slice, he ordered two Papa John’s pizzas for 10,000 Bitcoin – then valued at $40. 10,000 Bitcoin is now worth more than a whopping $84,000,000, so it’s easily the most expensive food purchase of all-time. Every year the crypto community celebrates Hanyecz’s record-breaking pizza delivery, as Bitcoin Pizza Day is the time for us all to celebrate Italy’s most famous export, along with just how far Bitcoin has come.
What’s the story?
You might be thinking, what’s the fuss with Bitcoin Pizza Day? Well, it stands for more than just a quick slice on the side. Bitcoin Pizza Day represents a yearly milestone in Bitcoin’s amazing journey. Think back to 2010 when Hanyecz – a Florida-based programmer at the time – made the decision to splash the crypto cash, a single Bitcoin was worth just $0.008, although order books were so thin that $40 was a more likely sale price. As we mentioned above, to cover the cost of two pizzas from the local Papa John’s he paid 10,000 BTC – a figure that in 2018 will probably make your jaw drop.
In today’s era of Bitcoin dominance, 10,000 BTC represents an eye-wateringly large amount of money. Speaking on his original transaction at the time, Hanyecz said on a popular Bitcoin forum, “I’ll pay 10,000 bitcoins for a couple of pizzas. Maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. If you’re interested please let me know and we can work out a deal.”
Logistics, logistics, logistics
Reacting to his post, many forum members weren’t too concerned with the value of Bitcoin at the time, they were more concerned with the logistics of the transaction. Plenty wished Hanyecz luck, but there were certainly a few doubters that didn’t believe he could pull it off. In the end, it took plenty of effort and a bit of manpower, but after 5 days he was able to get his Papa John’s pizza using Bitcoin. Posting a joyous picture, he posed with both pizzas, alongside a comment saying that he had successfully traded 10,000 bitcoins to acquire them.
Hanyecz’s transaction isn’t just amazing for how it came about and its now staggering value adjusted for Bitcoin’s growth, but for its mark in cryptocurrency history. It represents the very first time that a real-world Bitcoin transaction took place. When Hanyecz declared, “I just think it would be interesting if I could say that I paid for a pizza in bitcoins,” few would have thought that his hunger would lead to such a memorable moment.
Hanyecz strikes again
Back in February, Hanyecz paid 0.00649 bitcoins for two pizzas in order to test the Lightning Network, so he was able to make history all over again. But, for us here at BitStarz, it’s the original Bitcoin Pizza Day that sticks in our minds, along with the minds of those active in the crypto community.
Bitcoin Pizza Day Price History
- 2010 – $40
- 2011 – $67,000
- 2012 – $50,000
- 2013 – $1,240,000
- 2014 – $5,260,000
- 2015 – $2,410,000
- 2016 – $4,430,000
- 2017 – $22,860,000
- 2018 – $84,000,000
Bitcoin Pizza Day has made sure that Hanyecz’s legendary transaction is remembered forever, so when May 22nd comes around it’s time to celebrate all things BTC!