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Getting to know Bitcoin Pizza Day, what is it?

Liputan6.com, Jakarta – Bitcoin Pizza Day is the anniversary of the world's first Bitcoin transaction by someone. Bitcoin was first traded on May 22 2010. Because the first Bitcoin transaction was to buy two pizza pans for 10,000 BTC.

Reported from the site crypto exchange IndodaxWednesday (22/5/2024), the person in question was a Floridian programmer named Laszlo Hanyecz, who was also an early Bitcoin miner.

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If you look at the current Bitcoin price, the amount of 10,000 BTC is very large and is worth up to trillions of rupiah. However, at that time, the price of Bitcoin was still around USD 0.008 or around Rp. 116.25 per chip.

Before the first Bitcoin halving in 2012, each successful miner would be rewarded 50 BTC for finding a new block. This meant someone only needed to mine 200 blocks to earn 10,000 BTC, which wasn't too difficult back then considering there weren't many people competing to mine back then.

On May 18, Hanyecz announced on a forum called Bitcointalk.org he wanted to buy pizza using bitcoin. He offered 10,000 BTC to anyone who would order, collect and bring it to him.

One person pointed out he could get USD 41.00 for that bitcoin on a certain exchange site, which priced BTC at less than half a cent per coin.

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In an interview with CBS in 2019, Hanyecz said he thought the transaction could make (Bitcoin) real for some people. On May 21, he still had not managed to find anyone to complete his Bitcoin pizza transaction. Then, the next day someone accepted the offer. A step that makes it a historical one in Bitcoin's journey.

“I just wanted to report I successfully traded 10,000 bitcoins for a pizza,” The pizza was made by Papa John's, but Hanyecz bought it secondhand from a 19-year-old named Jeremy Sturdivant (username “jercos”).

In fact, if Hanyecz hypothetically sold his entire stash in Bitcoin at its all-time high price of USD 68,990, he could make around USD 690 million. That's enough value to buy 46 million large Papa John's pizzas at USD 15 per slice.

Remembering this historic event, the global crypto community gathers every year on May 22 to celebrate the first physical Bitcoin transaction and to remember Hanyecz.

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Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.

Getting to know Bitcoin Pizza Day, what is it?

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