May 22nd is a momentous day in the history of bitcoin – that’s when the 10,000 Bitcoin paid for the first-ever pizza will be worth $300 million (as of today, May 22, 2022, according to Coinmarketcap.com). As we commemorate this auspicious occasion, let’s take a look back at how we got here. Who could have guessed that a simple pizza transaction would one day be worth so much? Here’s to hoping that bitcoin continues its meteoric rise!
Bitcoin Pizza Day: Celebrating The $300-Million Pizza Order – And Other Fun Facts
(by Jet Encila, Crypto.news)
What a peculiar combination: bitcoin and pizza. Nonetheless, an entire day has been designated for each of these occasions. All of this is done in recognition of the innovations that crypto has brought to the world.
Since their creation, cryptocurrencies have dominated the global virtual currency landscape, and now everyone is mining this coin or seeking to invest in crypto.
Pizza: First Physical Item Bought Using Bitcoin
Previously, cryptos were not accepted as a form of payment, but after a man from Florida paid for his meal with bitcoins, this topic was all people could talk about.
Bitcoin Pizza Day commemorates the day in 2010 when Laszlo Hanyecz, a programmer and BTC miner from Florida, used the crypto to purchase two pizzas from Papa John’s. It occurs every year on May 22. It is the first physical item purchased with the first decentralized digital currency.
10,000 BTC Paid For The Pizza Is Worth $300 Million Today
Hanyecz paid 10,000 BTC for his renowned pizza purchase. This quantity was worth around $41 at the time. The value of the crypto has grown rapidly over time. Currently, 10,000 BTC are valued close to $300 million.
Obviously, the value of these same bitcoins increased significantly during the subsequent decade. In fact, if Hanyecz had supposedly sold his whole hoard at bitcoin’s all-time high of $68,990, he would have earned around $690 million — enough to purchase 46 million large Papa John’s pizzas for $15 each.
Hanyecz told Anderson Cooper in a 2019 interview with CBS that the purchase “made [bitcoin] real for certain people. Indeed, it did for me.”
Pizza Order Hogged The Headlines
Because of the price of bitcoin, Hanyecz’s story became global in the United States, with The Wall Street Journal, ABC News, Slate, and TechCrunch joining TechCrunch and Slate in popularizing the transaction.
On the same anniversary of the first Bitcoin pizza order, festivities continue for what has become a staple of crypto culture.
It’s A Celebration!
PizzaDAO, the decentralized blockchain project that aims to link pizza lovers around the world with the technological possibilities of Web3, is celebrating Bitcoin Pizza Day on Sunday in traditional fashion.
The group will conduct commemorative events at 100 pizza outlets in more than 75 nations, including Argentina, Australia, Canada, Britain, South Korea and the United States, to name a few.
Bitcoin Pizza Day will also be celebrated by Huobi Global, one of the world’s biggest digital asset exchanges, with a special Primebox deal.
From May 19 through May 29, users can participate in the special occasion’s Primebox promotion for a chance to win a portion of the 50 BTC prize pool and other NFT awards.
The Numbers Are Growing
Meanwhile, more than 15,000 establishments worldwide already accept cryptocurrency as payment.
Movies, clothing, basketball tickets, airline packages, hotel bookings, and video games are among the items that can be purchased using cryptocurrency.
And here is more of the background story from an article written by the New York Post in 2021:
Infamous bitcoin pizza guy who squandered $365M haul has no regrets
In May 2010, California student Jeremy Sturdivant, then 19, noticed a bizarre request on a cryptocurrency internet forum: He could receive 10,000 bitcoins, at the time reportedly valued at $41, in exchange for the delivery of two large pizzas to Florida resident Laszlo Hanyecz, 28.
Sturdivant filled the order, sending him two large pizzas (cheese and “supreme”) from Papa John’s — a transaction that would become the first physical purchase made with bitcoin in history, marked by the annual Bitcoin Pizza Day on May 22.
But Sturdivant didn’t save the bitcoins for the future; instead, he spent them all on travel.
Today, that lowly 10,000 bitcoin haul would be worth a pie-in-the-sky $365 million.
“I had no idea how huge it would become,” Sturdivant said. But despite losing out on boundless riches, the now-30-year-old said he is “proud to have played a part” in the “global phenomenon.”
The tale is now the stuff of bitcoin legend. In his May 18, 2010, Bitcointalk.org post, Hanyecz — a forum contributor — made the request, including his palate preferences: “I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc. just standard stuff no weird fish topping or anything like that,” he wrote.
Sturdivant followed through on Hanyecz’s appeal — and the rest is history.
Launched in 2009, bitcoin wouldn’t reach 1:1 with the dollar until early 2011. And although the price is volatile even today, it’s safe to say that Sturdivant’s haul could have been worth hundreds of millions of dollars had he decided to invest the funds.
“If I had treated it as an investment, I might have held on a bit longer,” Sturdivant told the Telegraph in 2018 of spending his earnings on a road trip with his girlfriend. “I would never have thought that the same number of bitcoin would have a purchasing power on the order of real estate.”
‘If I had treated it as an investment, I might have held on a bit longer.’
“Retrospectively,” Sturdivant admitted to Bitcoin Who’s Who, it’s “crazy” to think of anyone having that much bitcoin today.
And, like Sturdivant, Hanyecz has said in previous interviews that he does not regret his craving-induced purchase.
“I wanted to do the pizza thing because to me it was free pizza,” he told Bitcoin Magazine in 2019. “I got pizza for contributing to an open-source project. Usually hobbies are a time sink and money sink, and in this case, my hobby bought me dinner.
“I think that it’s great that I got to be part of the early history of bitcoin in that way,” he told Coin Telegraph in 2018. Hanyecz, now 39, went on to spend 100,000 bitcoin — currently $3.8 billion — on pizzas alone in the summer of 2010.
“I’d like to think that what I did helped,” he added. “But I think if it wasn’t me, somebody else would have come along.”
Of course, smart marketers are jumping on this event with all kinds of specials, here is just one. So Happy Crypto Deal Hunting on Pizza Day (Click here to go to Twitter Feed Announcing Many Deals to Celebrate this day):
Huobi Global celebrates Bitcoin Pizza Day with a 50 BTC prize pool: Grab a slice today!
Huobi Global, one of the world’s leading digital asset exchanges, is announcing a special Primebox promotion to celebrate Bitcoin Pizza Day. From May 19 to May 29, users can participate in the new Bitcoin Pizza Day Primebox promotion to win a share of the 50 BTC prize pool and additional NFT rewards.
Bitcoin Pizza Day was celebrated to commemorate an early cryptocurrency enthusiast who purchased two pizzas using Bitcoins on May 22, 2010 — an event that became widely and fondly known as the world’s first physical Bitcoin transaction. Since then, the value of the blockchain as represented by Bitcoin has gained recognition worldwide. On this day, various events are held to commemorate the first physical Bitcoin transaction and the role the Blockchain is expected to play in the near future.
In the upcoming Bitcoin Pizza Day Primebox promotion, users can complete tasks on the event page to collect five different ingredient cards, namely “flour”, “cheese”, “veggie”, “meat” and “seasoning”, to form a Bitcoin Pizza and win prizes such as a Rewards Hub badge, Huobi Earn APY booster coupon, Pizza Day NFT, point card, Primelist allocation or CandyDrop allocation. Users can also earn cards by completing tasks in Rewards Hub, Invite Friends, CandyDrop, Primelist or Huobi Earn. These ingredient cards can be gifted to a friend via their UID/DID numbers.
Apart from cards, Primebox BTC shards can be found and collected on the event page. 10 collected shards can be exchanged for one random ingredient card. Users who have not claimed their Decentralized Identity (DID) can claim one to win a Pizza Day NFT, which can be used as an avatar on Huobi. All Pizza Day NFTs are minted on the HECO chain and can be traded on the Huobi NFT platform.
Furthermore, holders of any one of the following NFT collections – Prime Voyager, Women With Crypto, Hanazawa Kana, Easter Bunny, Holy Crab, Ula, and Pizza Day, are entitled to additional privileges. By using the NFT as an avatar, users can earn extra ingredient cards daily according to the NFT’s rarity tier. The number of extra cards rewarded for a Pizza Day NFT will be doubled for Prime Voyager, Women With Crypto, Hanazawa Kana, Easter Bunny Holy Crab, and Ula collections. The number of extra cards rewarded for a rare NFT is also double that of a regular NFT.
From 12:00 (UTC) on May 19 to 12:00 (UTC) on May 26, Huobi Earn, a program dedicated to giving users high APYs for their deposits, will release a limited period deposit plan which enables users to get higher interest rates than usual. During this period, users who perform a certain number of trades will also have the opportunity to obtain Primebox cards or earn coupons that provide interest rate boosts for deposits by up to 8%.
CandyDrop, the token airdrop event that Huobi launched to incentivize active traders also provides more ways for users to participate in the Bitcoin Pizza day event
1. When users register for CandyDrop events, they get chances to obtain ingredient cards. Having five different ingredient cards will allow users to bake a Bitcoin Pizza.
2. BTC shards will appear randomly on the CandyDrop page. Users can collect 10 shards to exchange for an ingredient card.
3. The Primebox rewards include CandyDrop sure-win tickets and double-chance coupons.
For more information about the Bitcoin Pizza Day promotion, please click here.
About Huobi Group
As a world-leading company in the blockchain industry, Huobi Group was founded in 2013 with a mission to make breakthroughs in core blockchain technology and integrate it with other industries.
Huobi Group has expanded into public blockchains, digital assets trading, wallets, mining pools, proprietary investments, incubation, digital asset research, and more. Huobi Group has established a global digital economy industry ecosystem by investing in over 60 upstream and downstream companies in the blockchain industry.
Disclaimer: This is a post is for entertainment purposes only and should not be treated as news/advice. Always DYOR!!