Back in 2010, programmer Laszlo Hanyecz used 10,000 Bitcoins to buy two pizzas from Papa John’s. If he had only decided to hang onto those coins until 2021, he would now be able to buy the most expensive house in Britain and still have millions of pounds left over.
Every year on May 22, the crypto community marks Bitcoin Pizza Day by, you guessed it, eating pizza. Read on to discover why Bitcoiners celebrate this tasty anniversary and find out what we’re doing here at Zumo.
Laszlo’s purchase made history immediately as he was the first person to use Bitcoin in a commercial transaction.
But he has ended up permanently locked in the blockchain of internet folklore because the Bitcoin used to buy that infamous pizza would now be worth a truly staggering amount of money.
At the time, Bitcoin was just one year old and no one knew just how valuable it would become over the next decade. Although he inadvertently missed the chance to earn himself a truly upper-crust existence, Lazlo apparently has “no regrets”.
When looked at from today’s perspective, 10,000 Bitcoins is a lot of dough (sorry).
Back in 2010, a single Bitcoin was worth a fraction of a dollar, meaning the pizzas cost about $41.
At the time of writing, Bitcoin is sitting at a price of roughly £28,600, so the Bitcoins Lazlo used to buy a pizza would now be worth £286 million.
To celebrate this year, Zumo asked a local restaurant called Oro, in Shawlands, Glasgow, to make a Bitcoin pizza.
Owner Domenico Crolla said: “I had no idea pizza and Bitcoin had such a flavourful history!
“When Zumo got in touch and mentioned they wanted to use Bitcoin Pizza day to promote small businesses, I was more than happy to oblige with one of my famous pizza masterpieces”
What’s the moral of Bitcoin Pizza Day? We’d say it shows that anything can happen with crypto. In 2010, few people would have thought Bitcoin was destined to become a global currency with a market cap that reached a high of more than $1 trillion. Who knows what will happen in the next decade?
If you’re new to blockchain, you can’t afford to miss out. We want to help you join the crypto revolution and bring you along on our mission to build a fairer, more inclusive global economy. And if you’re a long-term hodler, we’d love to help make your crypto journey easier. Happy Bitcoin Pizza Day!