Bitcoin Pizza Day: what is online trend, who is Laszlo Hanyecz, how much did he pay for pizzas?

Another year has come and gone, which means more opportunities for the cryptocurrency world to celebrate its rise with Bitcoin Pizza Day.

From such humble beginnings where its value was basically nothing, to such extents that it has become a symbol of wealth, with so many different types of crypto now more than just Bitcoin, such as Ethereum and countless others.

Best not forget that there is even a Channel 4 documentary about cryptocurrency which you can watch right now to celebrate Bitcoin Pizza Day 2023.

Bitcoin Pizza Day acts as a way to commemorate the popular virtual currency and look back at its topsy-turvy lifecycle. Here is what you need to know about it.

When is Bitcoin Pizza Day?

The cryptocurrency community mark a momentous event in Bitcoin history on the same day each year. Bitcoin Pizza Day always falls on 22 May, which in 2023 is a Monday.

What is the meaning behind Bitcoin Pizza Day?

Bitcoin Pizza Day is an annual event and celebration that marks the first time a commercial transaction was made using Bitcoin on 22 May, 2010. It mainly serves as way to look back at the evolution of the cryptocurrency, how it rose from being virtually worthless to becoming a recognised asset in society.

Who is Laszlo Haynecz?

Laszlo Heynecz is renowned for being the first person to make a commercial purchase using Bitcoin. He bought two pizzas for 10,000 Bitcoins back in the currency's humble beginnings when it was worth less than a single penny.

How much would the pizza cost Laszlo Haynecz now?

The value of Bitcoin has gone up and down too many times to count over the years, but it's safe to say that it is worth much more than just shy of a penny these days. Haynecz will almost definitely be kicking himself right now knowing how much that pizza set him back reflected by today's valuation.

Bitcoin's first notable peak happened in 2021 when it rose to $37,340, but it has since been on a downwards trend, plummeting to $29,492 to last year. According to CoinGecko data, the current value of Bitcoin in 2023 sits at $26,774.

This means that Haynecz would have spent a mind-boggling $267.74 million on just two pizzas. Even if it was pepperoni and had all the extra toppings the world could give you, there is no getting over that.