On May 22, 2010, now known as “Bitcoin Pizza Day,” Laszlo Hanyecz, the Florida man, agreed to pay 10,000 bitcoins for the delivery of two Papa John’s pizzas. On the Bitcoin Talk forum, Hanyecz reached out for help. “I’ll pay 10,000 bitcoins for a couple of pizzas … like maybe 2 large ones so I have some left over for the next day,” Hanyecz wrote.
“I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy!”A British man took up Hanyecz’s offer and bought the two pizzas for him in exchange for 10,000 bitcoins. Even then, the recipient of the bitcoins got a bargain, paying $25 for the pizzas, while 10,000 bitcoins were then worth around $41.
Since that purchase, Hanyeczs’ pizzas have become far more costly. Nine months after the purchase, Bitcoin reached parity with the U.S. dollar, making the two pizzas worth $10,000. In 2015, the fifth anniversary of Bitcoin Pizza Day, the two pizzas were valued at $2.4 million. On May 22, 2023, Bitcoin was at just over $26,850, making the pizzas worth … you get the point.
Despite the massive rise in the price of Bitcoin, Hanyecz says he is not phased about his deal. “It wasn’t like bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool,” Hanyecz has said.
What Was Bitcoin's Highest Price?
What Type of Transaction Is Bitcoin Mostly Used for?
Bitcoin is primarily used for digital transactions. This includes ecommerce purchases, peer-to-peer transfers, and cross-border payments. Moreover, it's used for international transactions and, increasingly, for banking by those who don't have access to traditional financial institutions. Among these transactions, though, are those linked with illicit activities, such as darknet trades.
What Is the Average Number of Bitcoin Transactions Daily?
As of 2023, there are an average of almost 500,000 Bitcoin transactions within the blockchain per day, a significant increase from previous years. This surge reflects the growing adoption and use of Bitcoin for digital transactions across the globe.