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Bitcoin Pizza Day: $300 Million Pizza Order Celebration and Other Fun Facts

Bitcoin Pizza Day: $300 Million Pizza Order Celebration and Other Fun Facts

What a special combination: bitcoin and pizza. However, a full day has been designated for each of these occasions. All of this is done in recognition of the innovations that cryptocurrencies have brought to the world.

Since its inception, cryptocurrencies have dominated the global virtual currency landscape, and now everyone is mining this currency or looking to invest in cryptocurrencies.

Investors and entrepreneurs have been looking for an opportunity to trade cryptocurrencies ever since the first cryptocurrency trade went viral.

Suggested Reading | MicroStrategy Stock Rebounds 10% as CEO Saylor Predicts BTC “To Hit Millions”

Table of Contents:

Pizza: first physical item purchased with Bitcoin

Previously, crypto was not accepted as a form of payment, but after a Florida man paid for his food with bitcoin, that was the only topic people could talk about.

Bitcoin Pizza Day commemorates the day in 2010 when Laszlo Hanyecz, a Florida BTC miner and programmer, used cryptocurrency to buy two pizzas at Papa John’s. It happens every year on May 22. This is the first physical item purchased with the first decentralized digital currency.

This is what the pizzas looked like when they were ordered in 2010 (Bitcoin Magazine).

10,000 BTC paid for pizza is worth $300 million today

Hanyecz paid 10,000 BTC for his famous pizza purchase. This amount was worth about $41 at the time. The value of cryptocurrencies has grown rapidly over time. Currently, 10,000 BTC is valued at almost $300 million.

Obviously, the value of those same bitcoins increased significantly over the next decade. In fact, if Hanyecz had allegedly sold his entire bitcoin hoard at an all-time high of $68,990, he would have made about $690 million, enough to buy 46 million large Papa John’s pizzas for $15 each.

Hanyecz told Anderson Cooper in a 2019 interview with CBS that the purchase “made real for some people. In fact, he did it for me.

Pizza order in holders

Due to the price of bitcoin, the Hanyecz story went 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 as the first Bitcoin pizza order, the festivities continue for what has become a staple of crypto culture.

Total BTC Market Cap at $557 Billion on Weekend Chart | Source: TradingView.com

Is a celebration!

PizzaDAO, the decentralized blockchain project that aims to connect pizza lovers around the world with the technological possibilities of Web3, celebrates Bitcoin Pizza Day in the traditional way on Sunday.

The group will hold commemorative events in 100 pizzerias in more than 75 countries, including Argentina, Australia, Canada, Great 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 largest digital asset exchanges, with a special Primebox offer.

From May 19 to May 29, users can participate in the special occasion Primebox promotion for a chance to win part of the 50 BTC prize pool and other NFT rewards.

The numbers are rising

Meanwhile, more than 15,000 establishments around the world already accept cryptocurrencies as a form of payment.

Movies, clothing, basketball tickets, airline packages, hotel reservations, and video games are some of the items that can be purchased with cryptocurrencies.

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Featured image from Reddit, chart from TradingView.com

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