The Birth of Bitcoin Pizza Day
On May 22, 2010, a piece of culinary history was made when programmer Laszlo Hanyecz purchased two supreme pizzas from Papa John’s for the staggering sum of 10,000 BTC. Back then, that was about $40, but let’s just say the pizzas were more than a bite-sized investment at $266 million today!
Breaking Down the Price of Those Pizzas
As we fondly remember this monumental occasion, let’s take a moment to dissect the cost of putting together those two legendary pizzas. Hanyecz likely ordered the chain’s “The Works,” which is basically a supreme pizza extravaganza. Here’s a breakdown of the ingredient costs, calculated in Bitcoin:
- Pepperoni: 244 BTC ($6.5M)
- Bacon: 146 BTC ($3.8M)
- Italian sausage: 97 BTC ($2.5M)
- Onions: 24 BTC ($640K)
- Green peppers: 36 BTC ($960K)
- Mushrooms: 63 BTC ($1.6M)
- Black olives: 121 BTC ($3.2M)
- Cheese: 730 BTC ($19.4M)
Adding it all up, the total ingredient cost for just one of these pizzas would ring in at a jaw-dropping 1,461 BTC or around $39 million. That’s a feast not just for the stomach, but also for the wallet!
The Impact of Bitcoin Pizza Day
Bitcoin Pizza Day didn’t just serve up some tasty pies; it also marked the first transaction using Bitcoin to acquire physical goods. The celebration acknowledges the incredible growth of Bitcoin, which was worth only $0.0041 at that time and has skyrocketed to over $26,500. That’s a return on investment that even the best financial advisors would marvel at!
How it All Went Down
When Hanyecz posted his plea for pizza on the Bitcointalk forum, he offered to pay in Bitcoin, stating, “I’ll pay 10,000 bitcoins for a couple of pizzas.” His request was met by Jeremy Sturdivant, a 19-year-old university student, who delivered the pizzas four days later. Little did they know they were creating an iconic moment in the world of cryptocurrency!
Reflections from Pizza Day’s Key Players
In 2018, Jeremy reflected on that extraordinary transaction, mentioning he sold the pizzas to fund a holiday and had never considered Bitcoin an investment. In contrast, Hanyecz described the experience as a positive move, which allowed him to work on Bitcoin and even create a program for GPU mining. Now, that’s what one could call a win-win, or perhaps a win-pizza!
