Today marks the day when in 2010, Bitcoin was used for the first time as a medium in a commercial transaction. A programmer and early miner, Laszlo Hanyecz purchased 2 large pizzas for 10,000 BTC USD (valued at $41 in 2010) in Jacksonville, Florida. This transaction marks the first time in Bitcoin history that crypto was used to make a purchase in the real world.
Every year, people calculate how much the Bitcoin Hanyecz owned would cost had he held onto it. Despite it being worth around $680 million in 2023, he holds no regrets. Rather, he is proud to be a part of crypto’s history.
Laszlo’s purchase of pizza on that fateful day 13 years ago, played a key role in the evolution of Bitcoin and showcased to the world how messy the price discovery of new tokens can be early on in its life cycle.
Bitcoin Pizza Day is being used by some crypto bulls as a time to reflect on how far blockchain-based assets have come and how far they might still have to go to achieve further legitimacy.
