Ever wonder how, why and where the first Bitcoin trade happened? Well, you came to the right page!
This trivia might not be new to you if you are a long-term Bitcoin trader or investor. However, most Bitcoin users focus more on the techniques and strategies to earn greater profits and sometimes skip the part of knowing how everything started.
Exactly 11 years ago, on May 22, 2010, Laszlo Hanyecz from Florida agreed to trade 10,000 Bitcoins for two boxes of Papa John’s pizzas.
During that period, Bitcoin was only mined by users and supporters until the first trade was made, which changed people’s perspective about digital currency. The world of crypto trading has just started booming, unlike nowadays, where we can freely trade with a range of trustworthy brokers and exchanges using different trustworthy platforms like http://binance.com, https://www.kucoin.com, and https://bitcoin-loophole.io.
As the years pass by, Laszlo’s two pizza boxes are becoming more expensive, especially when Bitcoin reached an all-time high. In 2015, those pizzas were worth $2.4 million. Imagine how many pizzas those million bucks could have bought!
May 22, 2021, marks the 11th anniversary of Bitcoin Pizza Day, whereas, at the same time, the price of Bitcoin was as high as $63,000. Woah! Two pizzas could be worth approximately $630 million.
Here are some fun and interesting facts about Pizza Day:
During the first trade, the 10,000 was only worth $41. This simply means that a single bitcoin’s price was approximately $0.0004 at the time when the pizzas were bought. Although the price isn’t even a quarter of a dollar, Hanyecz might have thought of getting the greater deal.
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Pizza Day is not the only Holiday in the Bitcoin world.
For almost as long as the cryptocurrency has been around, Bitcoin supporters and users have been creating several holidays.
Satoshi Disappear Day marks the Bitcoin Creator’s disappearance, which occurred on April 28, 2011.
Satoshi Nakamoto is an individual or could be a group of people who created Bitcoin in a whitepaper in 2008 and launched it in January 2009. Up to this day, the identity of the founder and inventor is still unknown. He holds millions of Bitcoin, but those assets are still untouched.
User Kiba wrote that the holiday is to honour the legendary anonymous creator and founder of Bitcoin and assure that the Bitcoin community will continue its operations even after the inventor’s disappearance.
It took four days before Hanyecz received his pie.
Yes. You heard it right! Hanyecz was not able to get his pizza delivered until the fourth day.
According to Hanyecz, he offered a deal of paying 10,000 Bitcoins for two boxes of pizzas on Wednesday and was able to have the pizza delivered on Saturday at exactly 2:16 pm EST.
And according to reports, it was not the first time he traded pizzas for bitcoins. He had several successful transactions afterwards since he mentioned that he generated many bitcoins daily.
The man who traded with Hanyecz
Jeremy “Jercos” Sturdivant was the person whom Hanyecz traded his 10,000 bitcoins with. He was able to have the opportunity to be interviewed a few years after the trade. In 2015, he appeared in the limelight, stated that he had already sold 10,000 and mentioned that a currency is meant to be spent. According to reports, he sold the currency for approximately $400. He was 19 years old at that time.
Also read: The Best Crypto Cold Wallets of 2022
Conclusion
As the first and original cryptocurrency ever invented, Bitcoin not only holds the top spot in the market but might as well be respected by its community, particularly the users themselves. Their dedication to digital currency has paid off evidently through the rising of its value over time.
Bitcoin Pizza Day is one of the special holidays to commemorate the first successful trades. Now, Bitcoin can be traded and sold in exchange for commodities and services. This article is meant to inform you about the facts you might have missed during the said Holiday. Hanyecz has gained popularity worldwide for bringing up the possibility of Bitcoin being used just like fiat currency. Since then, the digital currency has been recognised globally for its value. This has become the beginning of the era where cryptocurrency dominates the financial market where more and more people are eyeing virtual currencies as investments that could yield profits.