8 years ago a programmer paid 10,000 bitcoin for 2 Papa John’s pizzas — now it’s the most celebrated day in crypto

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John Schnatter, founder and CEO of Papa John’s Pizza, arrives at the 2011 American Music Awards in Los Angeles
source
Thomson Reuters
  • In 2010, a programmer traded 10,000 bitcoin
    for two Papa John’s pizzas.
  • Today, those bitcoin would be worth more than $80
    million.
  • In honor of that purchase, the crypto world celebrates
    Bitcoin Pizza Day on May 22.
  • Watch
    bitcoin trade in real time here
    .

Happy Bitcoin
Pizza Day!

For bitcoin newbies, crypto-enthusiasts around the world
celebrate May 22, the anniversary of one of the earliest bitcoin
purchases: two Papa John’s pizzas for 10,000 bitcoin.

Laszlo Hanyecz, a programmer, purchased the two pizzas from
a fellow bitcoiner in Jacksonville Florida, according to
the New York Times. In 2013, Hanyecz didn’t sound
too broken up about the deal in
an interview with the Times
.

“It wasn’t like bitcoins had any value back then, so the
idea of trading them for a pizza was incredibly cool,”Hanyecz
said.

Still, those coins would be worth $82 million at bitcoin’s
last price of $8,200 a coin, according
to Markets Insider data
.There’s a Twitter account that
provides a daily update on how much the pizzas would have cost
based on the current price of bitcoin.

Bitcoin Pizza

source
Twitter/@bitcoin_pizza

Bitcoin gained worldwide attention at the end of 2017 as it
soared close to $20,000 and infiltrated trading and investment
firms across Wall Street. But the coin’s origins trace back to
2008 and an anonymous creator, Satoshi Nakamoto, who’s vision was
to create a rival financial system based on a technology called
blockchain.

Still, many merchants are afraid to accept bitcoin because of its
spine-tingling volatility. In 2017, Morgan Stanley described the
lack of places to buy goods with bitcoin as striking.

“The disparity between virtually no merchant acceptance and
bitcoin’s rapid appreciation is striking,”
analysts wrote
.

That hasn’t kept Wall Street away. A number of top trading
firms are active in crypto markets, including DRW and Virtu
Financial. Meanwhile, Goldman Sachs is preparing
to launch a bitcoin trading operation
. And
Morgan Stanley was looking to beef up its equity-research unit
with crypto experts
.





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