Today, enthusiasts within the crypto community have taken to various social media platforms to celebrate the anniversary of Bitcoin Pizza Day. To celebrate Bitcoin Pizza Day, Binance is hosting events worldwide, educating people about this digital revolution ignited by a simple craving for pizza.
History of Bitcoin Pizza Day
On May 22, 2010, a Florida man named Laszlo Hanyecz, a programmer and crypto enthusiast, made history by making the first-ever Bitcoin (BTC) purchase. According to reports, Hanyecz offered 10,000 Bitcoin for anyone to order him two large pizzas from Papa John’s. Back then, Bitcoin was a new digital currency with little real-world value.
Notably, 10,000 BTC equated to just $41, while the pizzas cost $25. According to the story, Hanyecz posted the pizza offer on a Bitcoin forum to test the usability of Bitcoin for everyday transactions. A fellow Bitcoin believer from Britain took him up on the offer, and history was made.
May 22 has since been christened “Bitcoin Pizza Day,” a celebratory reminder of the humble beginnings of a revolutionary technology.
Hanyecz, despite his massive missed financial opportunity, says he has no regrets. He believes he played a part in pushing Bitcoin into mainstream adoption and feels proud to be a part of history.
“Bitcoin was destined to grow, and if I had not made the transaction, someone else would have,” he stated.
Besides festivities, hashtags like #BitcoinPizzaDay and #PizzaForBitcoin trend on social media platforms at this time every year as Bitcoin enthusiasts celebrate.
Bitcoin’s Rise to Fame
The story of Hanyecz’s pizza purchase highlights the incredible rise of Bitcoin. Since 2010 when BTC was used for commercial purposes, its value has skyrocketed, reaching around $70,000 today. This means those 10,000 Bitcoin spent on pizza are now worth $700 million.
As of this writing, BTC is trading at $70,150, demonstrating a 12% increase in the past day. It boast a market capitalization standing at $1.3 trillion. The rise in Bitcoin follows a recent resurgence in the spot Exchange-Traded Fund (ETF) market.
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