Bitcoin Pizza Day

What is Bitcoin Pizza Day?

Bitcoin Pizza Day is an informal holiday that is celebrated annually on May 22nd.

It marks the first known purchase made using Bitcoin, when on May 22, 2010, Laszlo Hanyecz paid 10,000 Bitcoins (BTC) for two Papa John’s pizzas.

Background on Bitcoin Pizza Day

On May 18, 2010 at 12:35 AM Eastern Standard Time, Laszlo Hanyecz posted an offer on the BitcoinTalk forums.

Laszlo Hanyecz profile
Laszlo Hanyecz. Courtesy: Linkedin.

His offer was simple: he would give 10,000 bitcoins to anyone who ordered him two large Papa John’s pizzas.

Laszlo Hanyecz offers 10000 bitcoins for two pizzas on bitcointalk forum

The exchange price of a bitcoin at that time was approximately $0.0041 (less than one penny).

At 10,000 bitcoins, this was still a good deal for the purchaser of the bitcoins, since two pizzas in 2010 cost less then the $41 it would take to purchase 10,000 bitcoins.

And just 4 days later, Hanyecz reported back that he was successful!

Laszlo Hanyecz reports back about successful pizza purchase

And here is the info on that transaction on the bitcoin blockchain:

bitcoin pizza day transaction

So who bought the pizzas for him?

18-year-old Jeremy Sturdivant (known by his pseudonym ‘jercos’).

Jeremy Sturdivant aka jercos
Jeremy Sturdivant (aka 'jercos'). Courtesy: Linkedin.

And with that, bitcoin history was made. But this wouldn’t be the only time Hanyecz made bitcoin history!

Hanyecz is now also famous for pulling a similar stunt using the Lightning Network, celebrated today as “Lightning Pizza Day”.

Why is Bitcoin Pizza Day Important?

Bitcoin Pizza Day is important because it is widely considered to be a milestone in the history of Bitcoin.

The event demonstrates the potential use cases of bitcoin and highlights its growing acceptance and adoption as a form of payment.

It also allowed bitcoin’s value to skyrocket as it set a real world price for the currency.