Bitcoin Pizza Day: Buying the Most Expensive Pizza is 10 Years Old

Kataryna Kovtun May 22, 2020


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How did a programmer and pizza delivery man become famous all over the world 10 years ago?

On May 22, 2010, the first purchase for bitcoin was made — the programmer Lazlo Hanesh bought two pizzas for 10,000 BTC. Then they cost him $ 50, and at the current rate, they would cost about $ 91 million.

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Then Bitcoin was less than two years old, and the price of each coin was only a fraction of a cent. Bitcoin was also not considered as any significant payment method.

A Florida programmer named Laszlo Hanic wanted pizza and asked the Bitcointalk forum this question. He wrote:

“I’ll pay 10,000 bitcoins for a couple of pizzas, for example, for a couple of big ones — so that there is little left the next day.”

The offer was received by Hanich only on the 4th day, and the transaction took place on Internet Relay Chat (IRC). Jeremy Sturdivant agreed to the payment method and delivered two large.

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Then 10,000 Bitcoins cost about $ 41, and the cost of two pizzas was $ 25. Today, 10,000 BTC costs almost $ 91 million.

It is believed that this was the first transaction in history when Bitcoin was exchanged for a real product and service. Lazlo Hanich and Jeremy Sturdivant then opened the whole world to the real possibilities of bitcoin, about which sellers and consumers were not even aware.

Laszlo and Jeremy from the very beginning were bitcoin enthusiasts who to this day continue to follow the world of cryptocurrencies. At the time of the transaction, none of them realized how memorable this story would become. Shortly after the deal, Jeremy announced that he had sold those 10,000 BTC for $ 400. He received a win in 10x, although he could wait for millions of profits from those coins.

Then, the small Bitcoin community remembered the purchase, and since then, every year, users calculate how much these pizzas cost Lazlo Hanich today. Almost every year, the price of pizza rises. In 2016, 10,000 BTC was the equivalent of $ 4.4 million, in 2017 — $ 10.7 million, and in 2018 — already at $ 83 million.

In 2010, there was not much to buy for BTC, but today more and more retail and online stores around the world are beginning to accept cryptocurrencies. Now about a third of American SMEs accept cryptocurrencies as payment.

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