On May 22nd each year, Bitcoin Pizza Day is celebrated around the world by crypto enthusiasts. This day marks the anniversary of the first documented Bitcoin transaction for a real-world product. This day is the reminder of Bitcoin's investment value and it's importance in every day transaction.

HISTORY OF BITCOIN PIZZA DAY

Back in 2010, Laszlo Hanyecz, a programmer, made history by purchasing two Papa John’s pizzas for 10,000 BTC. It was worth about $41 at the time.

Laszlo Hanyecz was an early adopter of Bitcoin who recognized the potential of Bitcoin as a currency for everyday transactions.

To put this theory to the test, he decided to buy something tangible using Bitcoin. And what did he choose? Pizza! Hanyecz posted an offer on a Bitcoin Talk forum, where he promised 10,000 BTC to anyone willing to buy him a couple of pizzas.

It wasn’t long before a forum user accepted the offer and ordered the pizzas for him.

SIGNIFICANCE OF BITCOIN PIZZA DAY

May 22nd is a special day for Bitcoin and Crypto currency industry as Bitcoin the leader and most valuable of all cryptos was used in a transaction for a real world product. As you should know that Bitcoin is a peer to peer electronic cash system. So on this day in 2010, the utility of Bitcoin was first used to transact Bitcoin for a real world product.

Purchasing those pizzas showcased crypto’s potential as a currency for everyday transactions. Over the years, the celebration of Bitcoin Pizza Day has grown. People from all walks of life participate in various festivities. Some order pizzas using Bitcoin, while others join meetups and events to honor this remarkable occasion.

How much would the Bitcoin pizzas be worth today?

As of writing this article, 10000 Bitcoins would be worth 270 million US dollars today. And if we calculate all time high of Bitcoin it would be worth massive 690 million US dollars.

But it is important to note during the time of transaction by Laszlo Hanyecz, Bitcoin's value wasn't firmly established in the society as it was just came into existence and it was more of an experiment for him to test the use of Bitcoins for transactions.

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