The First Bitcoin Purchase: Laszlo Hanyecz and the Legendary Pizza Transaction

The first person to buy something with bitcoin was Laszlo Hanyecz, a Hungarian programmer and cryptocurrency pioneer. In May 2010, he made history by conducting the first-ever bitcoin transaction, purchasing two pizzas for 10,000 bitcoins.

The Significance of the "Pizza Transaction"

This event, famously known as the "pizza transaction," demonstrated for the first time that bitcoin could be used as a medium of exchange in the real world. While the value of bitcoin was negligible at the time, the transaction laid the foundation for its use in the global economy.

How It Happened

Laszlo posted on a bitcoin community forum, offering 10,000 bitcoins in exchange for two pizzas. Another forum member, Jeremy Sturges, accepted the offer and arranged for the pizzas to be delivered. This simple act marked a milestone in cryptocurrency history, and the date of the transaction is now celebrated as Bitcoin Pizza Day in crypto culture.

At the time, the 10,000 bitcoins were worth approximately $25 USD, the equivalent price of the two pizzas. Today, however, that same amount of bitcoin is worth millions of dollars, highlighting how far the cryptocurrency has come since its early days.