Bitcoin News

Bitcoin Was First Used To Buy Pizza. Other Interesting Tidbits

It doesn’t matter if you call it a trend or a real thing, cryptocurrency is taking over the world and nobody can ignore it. Virtual currency is an attractive option for market investors and entrepreneurs. How did it all start? It is believed that the first crypto-transaction took place over two pizzas. Are you shocked? You’re not alone. This transaction is the first time Bitcoin was used for commercial transactions with an actual company. Bitcoin was not yet accepted on the market. How did Laszlo Hanyecz exchange his coins?

First Bitcoin Transaction

Laszlo Hanyecz spent 10,000 bitcoins at a Papa John’s pizza place in order to purchase two pizzas. His Bitcoins then were only worth $40. Hanyecz, however, was unable to trade his Bitcoins in the commercial world because the cryptocurrency was not yet widely used. He reached out to Bitcointalk to openly trade his Bitcoins to anyone willing to buy him these pizzas. These two pizzas are among the most expensive pizzas ever made, considering Bitcoin’s current value of over $46k.

Pizza Day

This transaction marked the first commercialization of cryptocurrency in the real world. Crypto enthusiasts named May 22 the Bitcoin Pizza Day. This Day was celebrated for 11 years.

Bitcoin Pizza Brand

Anthony Pompliano, founder and partner at Morgan Creek Digital, announced via his Twitter account a week-long Bitcoin Pizza Drive. It took place in May. He tweeted, “Today I am announcing Bitcoin Pizza — a new national brand of pizza that will be launching in 10 locations.”

The Pizza Day Drops

Binance and Huobi announced competitions to mark the notorious Bitcoin Pizza Day. Huobi ran a $22,000 prize pool where one user would receive $5,220. Binance also ran a promotion offering $52,200 worth Bitcoin pizza to the winner.

Satoshi Disappear Day

Bitcoin Pizza Day is not the only occasion when Bitcoin holders have made a day an unofficial cryptocurrency holiday. Satoshi Disappear Day was established in 2011 by Bitcoin holders after Satoshi Nakamoto, the Bitcoin creator, disappeared following his resignation as project leader.