Fun Facts

The historic bitcoin pizza transaction

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Bitcoin is a currency that frustrates many. If you had bitcoin before it exploded in value and managed to sell it at the right time then you are a big fan. If you left early or joined late than you may be a little bit sour about your bitcoin investment. One man who deserves to be more bitter than anyone is Laszlo Hanyecz who purchased two pizzas for 10,000 bitcoins in 2010. Read on to find out how much he spent in today’s terms.

Hanyecz can be proud of one thing. He carried out the first-ever bitcoin transaction on May 22, 2010. The historic transaction was simple enough. Hanyecz put a post on the bitcointalk forum that he would happily purchase two pizzas for 10,000 bitcoins. He went into lots of detail of why he wanted two pizzas, enough for leftovers for the next day. He was happy to buy the pizzas from anyone, homemade or prepurchased. He didn’t mind. 

One fortunate individual took up his offer and purchased some pizzas and brought them to Hanyecz in exchange for the bitcoin. The buyer spent $25 for the pizzas and sold them for 10,000 bitcoin. At the time of sale, he had already made a profit. At that time 10,000 bitcoin was worth around $41. Yet at its height, one bitcoin was worth $19,891. If Hanyecz had kept his 10,000 bitcoin he could have sold them for nearly $200 million at one point in time. 

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Yet Hanyecz says he doesn’t regret it. The value of the coins at the time is what matters and he says he thoroughly enjoyed the pizza. May 22nd has now become known as Bitcoin Pizza Day. The next time the incredible day comes around, make sure you celebrate with a couple of delicious pizzas.

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