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On May 22, 2010, Bitcoin transitioned from merely an idea to actual currency. Laszlo Hanyecz, a programmer and early contributor to Bitcoin’s code, shared a casual proposal: “I’ll pay 10,000 bitcoins for a couple of pizzas.” Within five days, someone accepted his offer. Two Papa John’s pizzas were delivered. A screenshot was shared. Bitcoin had entered the physical realm.
That 10,000 Bitcoin, valued at approximately $41 at that time, is now estimated to be worth over $1.1 billion. Moreover, with Bitcoin reaching a new all-time peak of $111,999 on the 15th anniversary of the event, the tale of the “Bitcoin Pizza” carries even more significance.
It was not merely about the pizza. This represented the moment Bitcoin established itself as a usable currency. Prior to this, it primarily existed in theory and coding—discussed by cryptographers and mined by enthusiasts. Hanyecz’s post, along with the subsequent transaction, turned the concept into reality. “This transaction made Bitcoin tangible for me,” he mentioned in a 2019 interview. “It didn’t hold much value at that moment. I wouldn’t have spent $100 million on pizza, right? However, without that action, perhaps Bitcoin wouldn’t have gained such popularity.”
During the summer of 2010, Hanyecz kept utilizing Bitcoin for pizza purchases, ultimately spending over 79,000 BTC—currently valued at nearly $8.7 billion. While some have made light of his situation, the reality is this: without those initial real-life transactions, Bitcoin might never have demonstrated its practical use. Hanyecz transitioned Bitcoin from the periphery into real-world application.
This legacy continues to influence us today. Bitcoin Pizza Day has emerged as a cultural milestone within the crypto community, with gatherings, pizza celebrations, and educational initiatives taking place worldwide every May 22. The day highlights the progress of the technology—and the significance of everyday actions and their consequences.
This past week, the fast food chain Steak ‘n Shake started accepting Bitcoin through the Lightning Network, indicating a rising wave of mainstream acceptance. What once seemed experimental is now merging into daily commerce.
Bitcoin Pizza Day signifies acknowledgment. One simple transaction demonstrated that Bitcoin could function—and 15 years later, the world continues to build upon that initial bite.
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