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Bitcoin Pizza Day: Lazslo spends $800m on pizza

Lebogang Molopo

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The face of the man with expensive taste. Pic: CBS/60 Minutes Overtime

You probably think that Bitcoin is a newborn. The plot thickens. Today the world commemorates what has been coined “Bitcoin Pizza Day.” Today marks exactly eight years since the programmer, Laszlo Hanyecz paid a student 100, 000 BTC for two Papa John’s pizzas. This is particularly important because of the value of Bitcoin today.

Bitcoin anime holding a pizza

On 22 May 2010, Laszlo Hanyecs bought pizza using his then, almost worthless Bitcoin. The student at the time, Jeremy Sturdivant paid for the pizza and kept the bitcoin to himself. “It wasn’t like Bitcoins had any value back then, so the idea of trading them for pizza was incredibly cool,” Laszlo told New York Times.

This teaches one the importance of making and keeping investments in the long run. Bitcoin has since shown amazing growth with the ability to purchase goods from thousands of online retailers.

Today, Bitcoin is worth approximately $8 000. One wonders if Bitcoin will cost more in ten years time or if it will even exist. It is hard to tell with so many cryptocurrencies coming into play. It seems as though digital currencies have the power and could replace cold hard cash in the near future.

Cryptocurrency is gaining momentum amongst retailers in South Africa and the world. When Cooper Anderson of 60 minutes asked Hanyeccz if this story ever gave him sleepless nights, he responded by saying “I think thinking like that is not good for me.”

Bitcoin was established in 2009 so his transaction was one the first few transactions with cryptocurrency. At that stage many people were not even aware of crypto and those who wer,  probably didn’t think it would ever blow up like this.

Hanyecz lost may have lost his Bitcoin but at least he retains his title as the first ever person to make a successful Bitcoin purchase. Last year in an interview with Coin Telegraph Laszlo said “I don’t regret it. I think that it’s great that I got to be part of the early history of Bitcoin in that way, and people know about the pizza and it’s an interesting story because everybody can kind of relate to that and be -“oh my God, you spent all of that money!”

I'm a 26-year-old writer from Pretoria,South Africa. I studied Journalism and enjoy doing features and hard news. I love reading and hope to one day write and publish my own book.

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