by Hodler Ash 
All You Need To Know About Bitcoin Pizza Day
There is a day which is celebrated in the cryptocurrency market and it is called the Bitcoin Pizza Day. The name is very obvious if you are not oblivious to the first Bitcoin transaction that ever happened. Every year on 22nd May, the Bitcoin Pizza Day is celebrated because that is the day when the first Bitcoin transaction happened in which a Florida man made for two pizzas with cryptocurrency.
Why this is so special is the reason that he spent 10,000 Bitcoins to buy those two pizzas which if you value now will come to over $81 million. This is definitely not a small amount and the person who actually bought the two pizzas would have never had any idea that the prices would go so up. It was back in 2010 when this first Bitcoin transaction happened and May 22 is always celebrated as the Bitcoin Pizza day as a memory of the first Bitcoin transaction ever.
More About The First Bitcoin Transaction
Laszlo Hanyecz paid a total of 10000 Bitcoins for a delivery of to Papa John’s Pizzas back in May 22, 2010. This transaction happened in Florida.
Hanyecz even said that he would order 2 large pizzas for 10,000 Bitcoins so that he has some left over for the following day. This was the beginning of the transaction. All he wanted was to get his two pizzas delivered in exchange for the Bitcoins he had and that is why he contacted the bitcoin talk forum of those times. I just did not want to prepare it himself and he wanted the prepared food just like a ‘breakfast platter’ at a hotel or something. These words he said and he was very happy after receiving the delivery of the two pizzas in exchange of 10,000 Bitcoins.
There was a British man who actually agreed to the offer of Hanyecz and bought two Pizzas and delivered it to his home in exchange of 10,000 Bitcoins. These were the times when Bitcoins were not treated as a payment method very widely which is why this transaction happened, just like any other barter transaction.
Around May of 2010, the price of 10,000 Bitcoins was somewhat close to $41. Technically, the British divers at profit since he only paid $25 for the pizzas while the price of the Bitcoins was $41.
After this transaction was carried out, the price of Bitcoins started increasing rapidly. It was not for the particular transaction but for all the market trends and the evolution of the cryptocurrency market which led to the increase in price the most popular cryptocurrency token called Bitcoin. The prices of Bitcoin reached parity with the US dollar, when the price of 10,000 Bitcoins reached $10,000 exactly. It was just nine months after the purchase.
2015 marked the fifth anniversary of the Bitcoin Pizza day and these two pizzas on that exact day was valued at $2.4 million. Ever since the inception of the Bitcoin, it had reached a lot of highs. The astronomical rise in the price of Bitcoin did not take much time and at this point of time, 1 Bitcoin is around $8170. One can easily predict how much days two pizzas actually costed him back in a day.
Definitely, the price of Bitcoin did go down and a lot of conspiracies happened regarding it, around the whole wide world. Some of the countries even banned the cryptocurrencies while few of the countries are planning to launch their own cryptocurrency. The exchanges, which are basically the platforms for buying and selling Bitcoins as well as any other cryptocurrency tokens have been getting good amount of traffic mainly because of the amazing increase in price of Bitcoin over the years.
One cannot deny the fact that a lot of more traders came into the cryptocurrency market after the increase of Bitcoin’s price to an all time high. Many people, in fact, came to know about the whole market after the price hike and that is exactly what enticed them.
Celebrating Bitcoin Pizza Day
A lot of business tie-ins happen on the Bitcoin Pizza day and retailers get in on the action too. A very popular gift platform called eGifter give away extra points for purchasing Dominos uno and Papa John’s gift cards if those are purchased using Bitcoin, litecoin or dogecoin. Not only that, but also the company is providing a 10,000-point-prize in the honour of the 10,000 Bitcoins that was used in the first transaction.
E-commerce platform provider, Snapcard is also doing the similar with different offers and undoubtedly, this day is considered to be a kind of celebration for all the people who deal in cryptocurrencies and Bitcoins. The blockchain web wallet is what makes the pizzas come to you, very easily without much hassle of payment.
CoinDesk which is one of the largest exchanges around the world even offered Papa John’s Pizza on the Bitcoin Pizza Day just to celebrate the amazing day. The day is actually considered to be a day of celebration mainly because that is when the Bitcoin transaction, which is so popular these days and so many people are using it to gain more and more profit, happened for the very first time. One can definitely call it the Inception day of Bitcoin which has now changed so many lives.
How Has Bitcoin Changed Ever Since The Inception Day ?
The whole scenario Bitcoin and cryptocurrency market around the world has changed a lot ever since May 22, 2010. A lot of Bitcoin Pizza days came and went but we cannot deny the fact that the market is now more popular than it used to be back in those days. There are so many new exchanges in every single country giving the traders and easy way to buy and sell Bitcoins. The first Bitcoin transaction was basically a barter transaction, but nowadays it is completely treated as a legal currency by so many different countries.
Many people’s lives have changed after starting to trade in Bitcoins and this is just the beginning of the rise of cryptocurrency market. The market is going to rise much more in the coming future along with the blockchain technology.
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