$800 Million Pizzas (Bitcoin's First Transaction)

It all started on a cold, rainy night, or at least that's how the story might have gone. But in reality, it was a simple post from Laszlo Hanyecz that would make history. He put out a call: "I'll pay 10,000 Bitcoins for a couple of pizzas." He even specified, "maybe two large ones so I have some leftover for the next day." He liked having leftover pizza to nibble on later.

His offer was clear: "You can make that pizza yourself and bring it to my house or order it for me from a delivery place. But what I'm aiming for is getting the food delivered in exchange for Bitcoins."

That's when a young man named Jeremy Sturdivant took him up on the offer. He went ahead and ordered two large pizzas from Papa John's, delivering them to Hanyecz. This moment became the very first exchange of goods and services for Bitcoin in history.

The Birth of Pizza Day

This event is now celebrated worldwide every year on May 22nd as Bitcoin Pizza Day. It's a reminder of how far Bitcoin has come from its early days.

Key Takeaways

• The First Real-World Transaction: This was the first time Bitcoin was used to buy something tangible, proving its potential as a medium of exchange.
• A Simple Idea, Big Impact: A simple request for pizza led to a globally recognised day in the crypto world.
• Historical Significance: It marked a turning point, showing that digital currency could be used for everyday purchases.

How Much Are Those Pizzas Worth Today?

When Hanyecz made that purchase, 10,000 Bitcoins were worth about $41. Today, that same amount of Bitcoin is worth an astonishing sum. If we do a quick calculation:

Yes, you read that right. Those two pizzas, bought for 10,000 Bitcoins, would now be worth hundreds of millions of dollars. It really puts into perspective how much the value of Bitcoin has changed since its early days.