The Connection Between Bitcoin and Pizza: Explained

There are few stories in the crypto world that are as iconic as the Bitcoin Pizza Day story. This unlikely pairing traces back to a pivotal moment in Bitcoin history. The tale of Laszlo Hanyecz, a programmer who made the first real-world purchase using Bitcoin.

On May 22, 2010, Hanyecz paid 10,000 BTC for two Papa John’s pizzas, marking the inception of what is now known as Bitcoin Pizza Day. This story highlights the early adoption of Bitcoin and serves as a fascinating marker of its extraordinary price appreciation over the years. In this article, we will explore Bitcoin Pizza Day, the significance of Hanyecz's purchase, and reflect on what those 10,000 BTC would be worth today.

What is Bitcoin Pizza Day?

With all the talk around pizza and Bitcoin, you must be wondering, “what is Bitcoin Pizza Day?” Bitcoin Pizza Day is an annual celebration that takes place on 22 May. It marks the anniversary of the first known real-world transaction using Bitcoin. On this day in 2010, Laszlo Hanyecz, a programmer and early Bitcoin enthusiast, made history by using 10,000 BTC to purchase two Papa John’s pizzas. This event is commemorated as a significant milestone in the journey of Bitcoin, symbolizing its transition from a digital asset to a form of currency with real-world application. Bitcoin Pizza Day is celebrated by the crypto community worldwide, with pizza, of course.

Before You Get Started

Before you explore Bitcoin Pizza Day in more detail, remember that you can buy, sell, receive and store Bitcoin using Trust Wallet.

Trust Wallet lets you manage and interact with 10M+ crypto assets across 100+ blockchains. You can download Trust Wallet as a mobile app, or you can install the Trust Wallet Extension for your desktop browser.

The World’s Most Expensive Pizza’s

Laszlo Hanyecz, a Florida-based programmer, will forever be remembered in crypto history for making what is likely the most famous purchase ever. On 22 May 2010, Hanyecz posted on a Bitcoin forum, offering 10,000 BTC to anyone who would deliver two pizzas to him. At the time, Bitcoin was a young digital currency, and its value was minimal - those 10,000 BTC were worth only around $41.

A fellow Bitcoin enthusiast took Hanyecz up on his offer, and soon, two Papa John’s pizzas were delivered to his door. This transaction was monumental, marking the first transaction where Bitcoin was used to buy a physical product.

In the years since, Bitcoin's value has skyrocketed, making these two Papa John’s pizzas, the most expensive in the world. As Bitcoin's price appreciated, the value of those 10,000 BTC has risen astronomically, illustrating the dramatic potential of early cryptocurrency investments. Today, those two pizzas are often referred to as the most expensive pizzas in history, a humorous reminder of Bitcoin's extraordinary growth.

What is 10,000 BTC Worth Today?

Comparing Bitcoin's value in its early days to its current price paints a vivid picture of its meteoric rise. In 2010, when Laszlo Hanyecz exchanged 10,000 BTC for two pizzas, Bitcoin's price was comparatively minimal. At the time, 10,000 BTC was worth approximately $41.

Fast forward to 2024, and Bitcoin has evolved into a globally recognized asset with a market capitalization in the trillions of dollars. At the time of writing, Bitcoin's price hovers around $69,500 per BTC. At current prices, 10,000 BTC would be worth approximately $695 million, a mind-boggling sum that highlights the incredible growth of Bitcoin over the last decade.

The story of Bitcoin's price appreciation is one of innovation, resilience, and unprecedented financial growth. As Bitcoin continues to gain mainstream acceptance and adoption, its role in shaping the future of finance becomes increasingly apparent, solidifying its position as a revolutionary asset class in the digital age.

How to Buy Bitcoin Using Trust Wallet

You can buy crypto, including Bitcoin, using Trust Wallet, via our trusted partners. Here’s how:

• Select “Buy” from the home screen.

• Search for “Bitcoin” or “BTC” and select it.

• Choose the currency you want to use, then enter the amount of BTC you want to purchase.

• Select the third party provider & payment method you’d like to use.

• Select the Buy button and complete the remaining steps.

How to Deposit Bitcoin to Your Trust Wallet Address

In addition to buying BTC using Trust Wallet, you can also deposit BTC from another Bitcoin wallet or from a centralized exchange. Here’s how:

• Select “Receive” from the home screen.

• Search for “Bitcoin” or “BTC” and select it.

From here you have two options. You can either:

1. Copy your deposit address and use that on your exchange account or other wallet to send funds to.

2. Use the “Deposit from exchange” option to deposit crypto from your exchange account.

Closing Thoughts

The story of Bitcoin Pizza Day is an important chapter in the history of cryptocurrency. Bitcoin Pizza Day commemorates more than just a transaction; it celebrates the spirit of innovation, experimentation, and resilience that defines the cryptocurrency community. Bitcoin Pizza Day reminds us of the importance of early adoption and the effect that emerging technologies can have on the world.

As we reflect on the significance of Bitcoin Pizza Day, we are reminded of the incredible growth and evolution of Bitcoin. From its humble beginnings as a niche digital currency, to its current status as a globally recognized store of value and medium of exchange, Bitcoin has defied expectations and reshaped the landscape of finance.

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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.