Can you imagine spending 10,000 bitcoins on two pizzas? That’s exactly what Laszlo Hanyecz did on May 22, 2010, an event we now celebrate as Bitcoin Pizza Day. This event not only marked the first real-world Bitcoin transaction but also established a tangible value for cryptocurrencies in the real world, forever changing our perception of their potential.
5 Key Facts You Should Know About Bitcoin Pizza Day
1. $615 million in pizza
Initially, the 10,000 BTC that Laszlo used to pay for the pizzas were worth approximately $0.004 each. Today, that amount of Bitcoin would be worth nearly $615 million, highlighting the extraordinary appreciation of the cryptocurrency in just over a decade.
2. The cost per slice
Dividing the 10,000 BTC by the 16 slices of the two pizzas, each slice cost around 625 BTC, which today would be worth nearly $39 million.
3. The trade that changed everything
Laszlo’s purchase demonstrated that Bitcoin could be used for real payments and not just as a speculative asset. It opened the door for other merchants to start accepting cryptocurrencies as a form of payment.
4. Laszlo Hanyecz and GPU mining
Laszlo is not only famous for buying pizzas with Bitcoin but also for being one of the first to use GPUs to mine Bitcoin, which significantly increased mining efficiency. This advance was crucial for the development of cryptocurrency mining, making it more accessible and efficient.
5. A cultural milestone in the crypto world
Beyond its economic impact, Bitcoin Pizza Day has become a cultural milestone within the cryptocurrency community. It is a reminder of how a simple transaction can become legendary and how things can evolve in just over a decade.
The annual celebration
Bitcoin Pizza Day is celebrated every year with enthusiasm in the cryptocurrency community. It is a day filled with pizza promotions and events where the community reflects on Bitcoin’s growth from its humble beginnings. How will you celebrate this year?
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