Bitcoin Pizza Day Turns 14: 10,000 Bitcoins Once Bought Two Pizzas, Now Worth $700 Million

As we celebrate another annual Bitcoin Pizza Day, the timing coincides with a favorable Bitcoin market, leading to significant discussion about the event on social media.

In January 2009, Bitcoin’s creator, Satoshi Nakamoto, mined the genesis block of Bitcoin on a small server in the Netherlands. At that time, only a handful of people, mostly programmers, were aware of Bitcoin.

These programmers could mine Bitcoin using their personal computers, receiving a block reward of 50 bitcoins. Laszlo Hanyecz, from Florida, USA, was one such miner who amassed a large quantity of bitcoins.

On May 18, 2010, Laszlo Hanyecz posted on the Bitcoin Talk forum, offering to buy two large pizzas for 10,000 bitcoins.

The post attracted the attention of enthusiasts and, by May 22, Hanyecz updated that he had completed the transaction. He traded with a user named Jercors, who bought two pizza coupons (worth about 30−40) in exchange for 10,000 bitcoins.

In 2011, Jercors sold off those bitcoins for 400.Compared to the initial  30-$40 investment, the return was tenfold. Hanyecz has no regrets about the transaction, proud to demonstrate Bitcoin's transactional capabilities.

Bitcoin Cash brings the cryptocurrency market a market value of nearly one trillion US dollars, and Bitcoin has also reached US$70,000. These 10,000 Bitcoin Cash are worth up to US$700 million, so Bitcoin Pizza Day is indeed a cryptocurrency A memorable event in history.