May 23, 2023

Celebrate Bitcoin Pizza Day: 10k BTC Bought Two Pizzas for $40 13 Years Ago

Today marks the 13th anniversary of the world’s first commercial transaction with Bitcoin, when programmer Laszlo Hanyecz bought two supreme pizzas from Papa John’s for an incredible 10,000 BTC, or $266 million at current prices, back in 2010.

To commemorate the momentous occasion, Cointelegraph sought to answer the burning question of how much it cost to construct the two famous pizzas. It is assumed that Hanyecz ordered Papa John’s “The Works” pizza, which is the pizza chain’s version of a supreme pizza. Calculations revealed that the total cost of ingredients for just one of the Bitcoin Pizzas was 1,461 BTC, or $39 million – quite an expensive feast.

The day is celebrated as Bitcoin Pizza Day and marks the massive rise in the value of the cryptocurrency since then, which was worth only $0.0041 in May 2010 and is now worth over $26,500 at current prices.

Jeremy Sturdivant, the 19-year-old university student who delivered the pizzas for the Bitcoin haul on May 22, 2010, told Cointelegraph in 2018 that he sold them to afford a holiday. He had “never seen Bitcoin as an investment”.

Hanyecz, on the other hand, said he didn’t regret it. His early work on Bitcoin led him to code a program that made it possible to mine the cryptocurrency on computer graphic processing units.

The historic transaction has since inspired many other crypto-related purchases, such as Non-Fungible Tokens (NFTs). NFTs are digital assets that can be bought, sold, and traded in the same way as Bitcoin, and are often used for promotional purposes. NFTs are becoming increasingly popular on social media, with Twitter being one of the main platforms for NFT marketing.

As the crypto space continues to grow, more and more people are turning to NFTs as a way to promote their products and services. The demand for NFTs is also increasing, with many businesses and individuals looking to capitalize on the trend by selling NFTs.

It’s been 13 years since Laszlo Hanyecz’s historic purchase, and it’s safe to say that the crypto space has come a long way since then. With the rise of NFTs, the web3 space is now more accessible than ever before, and businesses and individuals alike are taking advantage of the opportunities it provides. So, let’s raise a slice of pizza to the first Bitcoin purchase and the web3 space that it helped create.

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