Happy Bitcoin Pizza Day!

Region: Europe
May 21, 2021, 10:00:00 AM Published By Wirex Team

We love pizza, and we love bitcoin. Put the two together and what does it make? Our favourite day of the year, that’s what. Tomorrow is Bitcoin Pizza day and it’s kind of a funny story.

Here’s a how it all started. Let’s go back to 2010...

On May 22 of that year, Florida man Laszlo Hanyecz was in the mood for some Papa John’s pizza. We’ve all been there.

Anyway, instead of simply ordering it in or going to his local Papa John’s, Hanyecz instead took a rather unusual approach to satisfy his pizza cravings. Hanyecz took to the bitcointalk forum, stating that he’d pay 10,000 bitcoins for two large pizzas so that he’d have enough for the next day.

His request was carried out by a man based in the UK, who ordered him two pizzas in exchange for the cryptocurrency. It may sound crazy now, as one bitcoin is now worth over $50,000. However, back then, 10,000 bitcoins were worth around $41, so it wasn’t really a crazy spend.

What’s more, after continuing to mine Bitcoin over the summer, Hanyecz went on to repeat this transaction a couple more times, which just goes to show how much he liked pizza.

The Evolution of Crypto since 2010

It’s also a great occasion to demonstrate just how far crypto has come in the last decade. Back in 2010, Hanyecz actually had to wait 4 days in order to make the transaction, meaning crypto wasn’t considered a very speedy option.

Today, however, crypto transactions are often quicker and cheaper than fiat transactions, meaning you can send crypto to people all over the world almost instantaneously. What’s more, Bitcoin may have been the first cryptocurrency, but there are now over 7000 different cryptos in existence, meaning there’s one for just about everyone.

Crypto has also been making its way into the mainstream media in recent years, with more and more people beginning to recognise the benefits crypto can offer. Statista now estimates that over 73 million people own some kind of crypto, which is a far cry from Bitcoin’s niche beginnings.

You can even celebrate Bitcoin Pizza day by recreating the famous transaction yourself! Just use your Wirex card to buy a pizza and you’ve effectively completed a modernised version of Hanyecz pizza purchase, it’s as easy as that.

There’s never been a better excuse to treat yourself to some pizza.