The first known physical good purchase with bitcoin is known as a “Bitcoin Pizza.”
The only Bitcoin forum that was available at the time was Bitcointalk, where a programmer by the name of Laszlo Hanyecz posted on May 22, 2010. Hanyecz penned:
“I’ll pay 10,000 bitcoins for a couple of pizzas.. Like maybe 2 large ones so I have some left over for the next day.”
The value of 10,000 BTC at the time was about 41 USD. This comes out to around 0.0041 USD per bitcoin. Another Bitcointalk user accepted Hanyecz’s offer, paying 25 USD for the two pizzas and making a staggering 16 USD profit even then!
Let’s fast-forward by about seven years to put this in perspective. Bitcoin was worth about 60,000 USD in April 2021. The value of the Bitcoin Pizza transaction stood at 600,000,000 USD at that time.
May 22 is now recognized as Bitcoin Pizza Day due to this now-legendary transaction.
In 2018, Hanyecz paid 0.00649 BTC for two pizzas via the Bitcoin Lightning Network.
