- Bitcoin Pizza Day marks the anniversary of the first documented use of bitcoin for a real-world purchase on May 22, 2010.
- 10,000 BTC were spent on two Papa John’s pizzas in 2010; that amount of BTC is now valued at about $1.1 billion.
- If $41 worth of BTC had been saved from 2012, 2013, or 2014, it would be worth between $9,226 and $908,000 today.
- Bitcoin’s price growth since the 2010 pizza purchase is nearly 2.8 billion percent, reaching an all-time high of $111,544 on the anniversary date.
- Related promotions and events, such as Papa John’s Bitcoin giveaways and Coinbase’s use of USDC, have generated controversy in the crypto community.
On May 22, 2010, Laszlo Hanyecz made history by using 10,000 bitcoin (BTC) to buy two pizzas from Papa John’s, marking the first time cryptocurrency was used for a real-world transaction. The crypto community now commemorates this event as Bitcoin Pizza Day every year.
According to records documented by Protos, the 10,000 BTC spent in 2010 would currently be worth about $1.1 billion. If someone had purchased $41 worth of BTC on May 22 in 2012, 2013, or 2014 and held onto it, that investment would now equal $908,000, $36,000, or $9,226, respectively. As of today, it would take just 0.0003703 BTC to purchase $41 worth of pizza.
Over the past 14 years, bitcoin’s value has surged by approximately 2.8 billion percent since the famous pizza transaction. On the latest anniversary, BTC reached a record high of $111,544, reinforcing the dramatic appreciation since 2010. For a detailed annual breakdown, the full chart is available here.
Papa John’s attempted to leverage its association with Bitcoin history in May 2021 by offering free bitcoin as part of pizza orders in the United Kingdom. However, the UK’s advertising watchdog later prohibited these ads, stating they “trivialized” the risks associated with cryptocurrency investments for inexperienced consumers.
In a separate event, Coinbase faced criticism from bitcoin advocates for accepting the stablecoin USDC, instead of BTC, as payment for pizza during last year’s Pizza Day celebration. Some participants labeled the event “shitcoin pizza day” and described Coinbase as “bad actors,” due to the choice to use a stablecoin rather than bitcoin.
For additional context and updates, readers can follow Protos on X, Google News, and other linked platforms.
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