Why is May 22 celebrated as Bitcoin Pizza Day? – The Global Tofay

Why is May 22 celebrated as Bitcoin Pizza Day? - The Global Tofay Global Today

Bitcoin Pizza Day is on May 22 every year. This day marks the first occasion when Crypto was used to buy actual objects. On May 22, Laszlo Hanyecz spent 10,000 Bitcoins to have two pizzas from Papa John’s. The two pizzas were worth $10,000 after nine months, $2.4M in 2015, and $63M in 2021.

History of Bitcoin Pizza Day:

The original Bitcoin’s value was cut in half in 2012. For successfully finding a new block, a miner received 50 BTC. This meant that, given the low volume of Bitcoin transactions, mining just 200 blocks would yield 10,000 BTC, which was a fairly simple task.

On May 18, Hanyecz posted on the Bitcointalk.org forum that he wanted to use Bitcoin to buy two huge pizzas. Anyone ordering, obtaining, and delivering the coin to him would receive 10,000 BTC in exchange. He was still unsure of the recipient of his Bitcoin pizza transaction as of May 21. Finally, on May 22, he received an acceptance. This became a historic moment!

Over the following ten years, these Bitcoins’ value skyrocketed. If Hanyecz had sold his whole collection at the all-time high of $68,990 for Bitcoin, he could have bought 46 million large Papa John’s pizzas at the cost of $15 a piece. That’s enough pizza to last forever!

Interesting facts about Crypto:

  • As of 2022, Cryptocurrency come in 9,500 different kinds.
  • There is a maximum of 21M Bitcoins.
  • NFTs are not Cryptocurrencies, even though they are considered digital assets.
  • Although Satoshi Nakamoto is frequently linked to Bitcoin, there is no confirmation of the person’s identity.

Conclusion:

Every year on May 22, the global Crypto community commemorates the first actual Bitcoin transaction as a memorable day.

#celebrated #Bitcoin #Pizza #Day

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