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Bitcoin Pizza Day

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May 22nd marks the yearly anniversary of Bitcoin Pizza Day – a day that usually elicits shock and second-hand regret for those who learn about its storied origin.


The mind behind Bitcoin Pizza Day is a man named Laszlo Hanyecz. According to Bitcoin.com, the lore goes that in 2010, wanting to use his Bitcoin to buy food, Hanyecz posted on BitcoinTalk.org that he would pay someone 10,000 Bitcoin for a couple of pizzas. After a few days with no takers, another user finally responded to Hanyecz’s offer, accepting 10,000 BTC to buy and deliver two Papa John’s pizzas to Hanyecz. The pizzas cost about $25.00 at the time, and Bitcoin was trading below $0.01. 


As of May 3rd, 2022, the value of the 10,000 BTC would be approximately $383 million, making Hanyecz’s pizzas arguably the most expensive pies in history. From Hanyecz’s story, Bitcoin Pizza Day was born, finding life over the years among crypto enthusiasts. If you don’t believe the story is true, check out the original transaction on Blockchain.com (link). 


10,000 BTC in 2022


After 2010, the price of Bitcoin would start to climb steadily. Just five years after Hanyecz’s original purchase, Bitcoin was trading at $258.39, making the price of the two pizzas $2.58 million in 2015 dollars. In May 2020, Bitcoin would sell for up to $9,688.32, which means the pizzas cost $96.8 million a decade after Hanyecz’s original purchase (link). Today, 10,000 BTC would buy 25.5 million Papa John’s large cheese pizzas at $17.00 apiece. If only, Hanyecz had the foresight to know that Bitcoin would one day trade for as much as $68,990.90 a coin. The price increase is a sure indication of how much Bitcoin has grown in popularity since 2010. 


How to Celebrate?


The crypto world has come a long way since Bitcoin was less than a dollar. Since then, we’ve seen the rise of stablecoins, watched single NFTs sell for more than a million dollars, and can now use cryptocurrency to buy food at countless stores. 


Speaking of, a great way to celebrate Bitcoin Pizza Day would be to buy some pizzas for yourself. Unlike in 2010, there are even multiple delivery apps at your disposal to get the pizzas to your house, and you no longer have to rely on a random user in a Bitcoin forum to do it for you. You can also buy Bitcoin right here on the Bitcoin Depot website (link) and start stacking your own satoshis to celebrate the annual crypto holiday. 


Otherwise, let’s honor Bitcoin Pizza Day by spreading the word about crypto and telling the story of Laszlo Hanyecz. The lesson in the story is less about how much the value of a cryptocurrency can increase and more about passing a milestone. Hanyecz proved it was possible to use cryptocurrency as more than a store of value but as actual currency to transact in the real world. 


Right now, you can stop by any of our Bitcoin ATMs to buy your own digital currency just like you would at a cash ATM. With over 7000+ locations (link) across the U.S. and Canada, it’s easy to find a Bitcoin Depot ATM to use wherever you are. If you’re new to crypto, check out our user guide and videos (link) to learn more. You can also download our mobile app on the App Store or Google Play to send, receive, and store crypto through your mobile device.


Follow us on Twitter @Bitcoin_Depot (link) or Instagram @Bitcoindepot (link) for the latest news and updates about the crypto industry. 



May 12, 2022