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Bitcoin Pizza Day: A $700 Million Reminder of Cryptocurrency’s Rise

Published 05/22/2024, 07:50 PM
Updated 05/22/2024, 08:15 PM
© Reuters. Bitcoin Pizza Day: A $700 Million Reminder of Cryptocurrency’s Rise
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  • Bitcoin Pizza Day marks the first documented Bitcoin transaction, now worth $700 million

  • Early adopter spent over 100,000 BTC on various goods, missing out on immense potential wealth

  • Bitcoin, despite bearish sentiment, remains a store of value with a rich and celebrated history

On this day in 2010, Laszlo Hanyecz, a Florida-based software developer, etched his name in history by purchasing two pizzas with 10,000 Bitcoin (BTC). This marked the first documented commercial transaction using the original cryptocurrency. Five days before the purchase, Laszlo posted a request on the BitcoinTalk forum, seeking to exchange Bitcoin for pizza.

Today, with Bitcoin trading near $70,000, those two Papa John’s pizzas would be valued at over $700 million. Fourteen years ago, they cost a mere $41. This historic transaction is now commemorated annually as Bitcoin Pizza Day on May 22, a celebration of the cryptocurrency’s remarkable evolution.

The post Bitcoin Pizza Day: A $700 Million Reminder of Cryptocurrency’s Rise appeared first on Coin Edition.

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