On Could 22, 2010, Bitcoin grew to become extra than simply an concept—it grew to become actual cash. Laszlo Hanyecz, a developer and early contributor to Bitcoin’s codebase, posted an informal provide: “I’ll pay 10,000 bitcoins for a few pizzas.” 5 days later, somebody took him up on it. Two Papa John’s pizzas have been delivered. A screenshot was posted. Bitcoin had entered the actual world.
That 10,000 Bitcoin, price about $41 on the time, is now valued at over $1.1 billion. And with Bitcoin hitting a brand new all-time excessive of $111,999 on the fifteenth anniversary of the transaction, the story of the “Bitcoin Pizza” carries extra weight than ever.
It wasn’t simply in regards to the pizza. This was the second Bitcoin proved itself as a functioning forex. Till then, it had lived principally in concept and code—talked about by cryptographers and mined by hobbyists. Hanyecz’s submit, and the commerce that adopted, remodeled the concept into motion. “This transaction made Bitcoin actual in my eyes,” he stated in a 2019 interview. “It wasn’t price a lot on the time. I wouldn’t have spent $100 million on pizza, proper? But when I hadn’t completed that, possibly Bitcoin wouldn’t have develop into so widespread.”
Over the summer time of 2010, Hanyecz continued utilizing Bitcoin to purchase pizzas, finally spending greater than 79,000 BTC—now price almost $8.7 billion. Whereas some have joked at his expense, the reality is that this: with out these early real-world transactions, Bitcoin would possibly by no means have confirmed its use case. Hanyecz helped transfer Bitcoin from the perimeter into performance.
That legacy nonetheless shapes us at the moment. Bitcoin Pizza Day has develop into a cultural milestone within the crypto world, with meetups, pizza events, and academic occasions held globally every Could 22. The day serves as a reminder of how far the expertise has come—and the significance of on a regular basis actions and the impression they’ve.
Simply this week, quick meals chain Steak ‘n Shake started accepting Bitcoin by way of the Lightning Community, signaling a rising wave of mainstream adoption. What as soon as felt experimental is now changing into a part of on a regular basis commerce.
Bitcoin Pizza Day is about recognition. One easy transaction proved that Bitcoin may work—and 15 years later, the world continues to be constructing on that first chunk.
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