Blockchain 101: Episode 08 – 2 Pizzas $100 Million

On May 22nd, 2010, Laszlo Hanyecz, U.S. programmer and Bitcoin fan, tried using Bitcoins to exchange for goods. He mentioned on a Bitcoin forum that he wanted to swap 10,000 Bitcoins for two pizzas worth $25.

A British volunteer made the deal with Hanyecz and received 10,000 Bitcoins. This was the first time Bitcoin had a price attached to it and this created a huge stir among the Crypto community.

To commemorate this deal, May 22nd become “Bitcoin Pizza Day”, where enthusiasts gather to celebrate by eating pizza. Going by the current price of Bitcoin, the two pizzas are now worth more than 100 million US dollars.

Mr Hanyecz is probably somewhere crying his heart out.