Cryptocurrency exchange reports

Bitcoin Pizza Day Celebrates 14th Anniversary of $700 Million Transaction

May 21, 2024, 05:49 PM

Fourteen years ago, on May 22, 2010, Laszlo Hanyecz, a Floridian programmer, made history by purchasing two Papa John's pizzas for 10,000 bitcoins. This transaction marked the first documented commercial use of Bitcoin, a cryptocurrency that was then in its infancy. At the time, the 10,000 bitcoins were worth approximately $41. Today, those same bitcoins would be valued at around $700 million, highlighting the dramatic rise in Bitcoin's value. Some estimates put the value at $684 million. This event is celebrated annually as Bitcoin Pizza Day, with global festivities organized by various crypto communities. This year, events are being held in over 200 cities worldwide, including major cities like New York, Los Angeles, and Miami, as part of the Global Pizza Party hosted by Pizza_DAO. The transaction also marked Bitcoin's first transaction for physical goods and could now buy about 36 million pies.