Bitcoin Pizza Day: The $634 Million Papa John's Pizza Order

Laszlo Hanyecz was hungry.

It was September 22nd, 2010, and Hanyecz was flush with these practically worthless things called Bitcoin, and he wanted to use them to get some pizza delivered.

Sure, Hanyecz could have walked down the street to get some pizza, but he wanted to use his Bitcoins to get some pizza delivered.

Hanyecz went onto a forum called "Bitcoin Talk" and made an offer:

Get me two large pizzas, and I'll send you 10,000 Bitcoins.

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A British man on the forum took up Hanyecz on his offer.

It was a good deal - the two large pizzas, ordered online, were only gone to cost him $25, and he was going to get $41 worth of Bitcoin back.

The two large pizzas were ordered from Papa John's, and the Bitcoins were sent.

This was the FIRST commercial transaction involving Bitcoin - the first of many millions.

Hanyecz got his pizzas delivered, and the rest is history.

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These 10,000 Bitcoins are now worth roughly $641 million.

Is Hanyecz miffed about the dramatic price increase? Not really.

Hanyecz says that Bitcoin was "basically worthless" back then, and he thought that it would be a cool transaction to execute.

As a result of this expensive pizza transaction, cryptocurrency lovers now celebrate "Bitcoin Pizza Day" every year on May 22nd.

Filed under: General Knowledge