If you’ve stuck around in the cryptosphere long enough, you’ve probably become aware of some of the quirkier aspects of Bitcoin’s history. For example, Bitcoin’s enigmatic creator, Satoshi Nakamoto, or the fact that much of Bitcoin’s historical moments are emblazoned forever in archived internet chat forums.
Another (perhaps lesser-known) piece of Bitcoin’s mythology is today, May 22. What could be so special about a day like today, you ask?
Well, it’s Bitcoin pizza day: a holiday that combines one of the most powerful global pop cultural movements of 2017-18 with the most meme-licious and celebrated food of the last several years. Now that’s a holiday.
The story goes back to May 22nd, 2010, when programmer Laszlo Hanyecz paid another Bitcoin talk forum user for two Papa John’s pizzas for the low, low price of 10,000 BTC (worth about $25 at the time.)
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Nowadays, that 10,000 BTC is worth roughly $82,479,400. Yep.
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The #Bitcoin pizza is worth $83,131,600 today. (-2% from yesterday) Today is Bitcoin pizza day!
— Bitcoin Pizza 🍕 (@bitcoin_pizza) May 22, 2018
In an interview with the New York Times that took place last year, Hanyecz said, “It wasn’t like bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool. No one knew it was going to get so big.”
Of course, Hanyecz is right. Satoshi Nakamoto themself was unsure of the future of BTC–although they did believe that Bitcoin would either be huge or that it would be nothing at all: “in a few decades when the reward gets too small, the transaction fee will become the main compensation for [mining] nodes. I’m sure that in 20 years there will either be very large transaction volume or no volume.”
Nowadays, you can buy just about anything with Bitcoin, although it might take a long time to download the necessary apps and for the transaction itself to be confirmed. You can even buy pizza–although you may not want to pay 10,000 BTC for it.