Bitcoin Pizza Day is This Week and Celebrates Historic Milestone in the Use of Cryptocurrencies

As we approach Wednesday, May 22, the cryptocurrency community prepares to celebrate one of the industry’s tastiest and most significant milestones: Bitcoin Pizza Day. Thirteen years ago, in an act that many might consider banal, programmer Laszlo Hanyecz used 10,000 Bitcoins to buy two pizzas, marking the digital currency’s first commercial transaction. This event not only highlights the symbolic and historical value of Bitcoin, but also serves as a reminder of the impressive appreciation the cryptocurrency has experienced since then.

Exactly thirteen years ago, on May 22, 2010, a transaction took place that would go down in history as one of the most emblematic in the world of cryptocurrencies. That day, programmer Laszlo Hanyecz made the first recorded purchase using Bitcoin, purchasing two pizzas at Papa John’s for 10,000 Bitcoins. This event is known today as “Bitcoin Pizza Day”, a milestone that celebrates the first commercial use of Bitcoin.

At that time, the amount of Bitcoins used by Hanyecz had an approximate value of US$41, equivalent to almost US$650 million in current values. The programmer posted on a forum known for cryptocurrency enthusiasts: “I’ll pay 10,000 bitcoins for some pizzas… maybe two large ones, then I’ll have some left over for the next day. I like to have leftover pizza to eat later. You can make the pizza yourself and bring it to my house or order it from a delivery place, but what I want is for the food to be delivered in exchange for bitcoins, where I don’t have to order or prepare it myself, is like ordering a ‘breakfast plate’ in a hotel or something, they just bring you something to eat and you’re happy!”

This order resulted in the purchase of the two pizzas by a British Bitcoin enthusiast, who accepted Hanyecz’s offer and delivered, thus marking the first documented use of Bitcoin to pay for a product in the real world.

Since then, the value of Bitcoin has increased exponentially. The digital asset has undergone multiple halving events, where the reward for mining a block is halved, encouraging scarcity and potentially increasing the value of the cryptocurrency. The last of these events occurred on April 19, 2024, adjusting the reward to 3,125 Bitcoins per block.

“Bitcoin Pizza Day” is not only a nostalgic celebration, but also a reminder of the growth and appreciation potential of cryptocurrencies. It is celebrated globally with several events organized by entities such as Binance, which promotes meetings and activities in several countries to mark the date.

Hanyecz, in turn, says he does not regret his purchase, understanding his pioneering role in testing Bitcoin as a functional currency. “If I hadn’t made that transaction, someone else would have,” he commented, acknowledging the inevitability of Bitcoin’s advance.

On social media, hashtags such as #BitcoinPizzaDay and #PizzaForBitcoin gain prominence during this time of year, highlighting how much the community values ​​this peculiar but significant moment in the history of Bitcoin.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.