Ten years ago today, computer programmer Laszlo Hanyecz made history when he bought two pizzas using Bitcoin (BTC).
Hanyecz initiated what is now widely regarded as the first real-world transaction using cryptocurrency after creating a post on the forum Bitcointalk asking if anyone would trade Bitcoin for food.
“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!”
Jeremy “Jercos” Sturdivant, who was 18 years old at the time, sent him two pizzas for 10,000 BTC after negotiating the food deal on Internet Relay Chat (IRC). On May 22nd, Hanyecz confirmed the successful transaction.
The value of Bitcoin at the time was only about $0.0041, meaning the pizza cost $41.
Today, Bitcoin is equivalent to $9,185, which means the 10,000 BTC Hanyecz spent on two pizzas a decade ago is now worth more than $90,000,000.
In an interview with 60 Minutes, Hanyecz said he enjoys having a crypto holiday in his honor.
“I just honestly thought it would be really cool if I could say I just traded this open source internet money for a real world good, and I thought what better thing than food? Food is basic necessity and every geek understands pizza.”