Bitcoin Was First Used To Buy Pizza. Other Interesting Tidbits

Call it a fad or a real deal, cryptocurrency has taken the world by storm and no one can shut their eyes against it. The virtual currency scenario is a brimming space for entrepreneurs and market investors. But how did it all begin? The first crypto-transaction was apparently over two pizzas. Shocked? Well, on May 22, 2010, Florida-based Laszlo Hanyecz traded his Bitcoins to get two pizzas from a local pizza store. The transaction is known as the first official use of Bitcoin for a commercial transaction with an actual company. But Bitcoin wasn't yet an acceptable currency in the market. So, how did Laszlo Hanyecz trade his coins?

First Bitcoin Transaction

In 2010, Laszlo Hanyecz spent 10,000 Bitcoins at a local pizza restaurant called Papa John's to buy himself two pizzas. Back then his Bitcoins were worth only $40. But, since the cryptocurrency wasn't yet a thing in the commercial world, Hanyecz reached out to the Bitcointalk community and openly traded his Bitcoins to anyone who would buy him these pizzas. Considering Bitcoin's value today, which is over $46k currently, these two pizzas can be regarded as the costliest pizzas of all time.

Pizza Day

As this transaction heralded the commercialisation of cryptocurrency in the real world, crypto fans named May 22 as the Bitcoin Pizza Day. This Day completed 11 years this year.

Bitcoin Pizza Brand

Following the craze over both Bitcoins and pizzas, none of which seem to stop any soon, Anthony Pompliano (founder and partner at Morgan Creek Digital) announced a week-long Bitcoin pizza drive through his Twitter account. The drive took place this May. His tweet read, "Today I am announcing Bitcoin Pizza - a new national pizza brand that is launching in 10 cities."

The Pizza Day Drops

Crypto exchanges like Binance and Huobi marked the infamous Bitcoin Pizza Day by announcing competitions separately. Huobi reportedly ran a $22,000 prize pool, where one user would be given $5,220. Binance was also reported to run an NFT promotion that offered $52,200 worth of Bitcoin pizza to the winner.

Satoshi Disappear Day

Bitcoin Pizza Day isn't the only instance when Bitcoin holders turned a day into an unofficial cryptocurrency holiday. On April 28, 2011, when Bitcoin creator Satoshi Nakamoto disappeared after stepping down from his role as project lead, Bitcoin holders named it the Satoshi Disappear Day.