Use 10,000 Bitcoin to buy 2 cakes. This incident took place on May 22, 2010. Since then, this day every year has been remembered by the cryptocurrency community as "pizza day".
Laszlo Hanyecz is a software developer from Florida, USA. On May 22, 2010, Hanyecz used 10,000 Bitcoin to exchange for 2 pizzas. This is considered the first commercial transaction using cryptocurrency.
I just want to tell everyone that I successfully exchanged 10,000 Bitcoin for pizza," Hanyecz shared about the incident on the BitcoinTalk forum 14 years ago.
At that time, 10,000 Bitcoins were worth about 41 USD. Currently, each Bitcoin is trading around 70,040 USD. Thus, the above Bitcoin amount corresponds to more than 700 million USD when considered at the present time.
Bitcoin is currently the world's largest electronic currency with a capitalization value of nearly 1,400 billion USD. However, Bitcoin mining activities also cause a lot of controversy related to energy use and environmental protection.
Recently, the Venezuelan government decided to ban Bitcoin mining activities. Venezuela's Ministry of Electricity revealed plans to disconnect cryptocurrency mining farms from the national electricity grid.
This move comes in the context that the country often faces periodic power cuts, especially since 2019. The above decision aims to regulate excessive energy consumption, thereby ensure stable electricity supply for people.
