Bitcoin Pizza Day: Journey from 2010-2022

    There is a common saying that you cannot have the ‘best of both worlds.’ But what if I tell you that you can have them, will you believe me? Let’s burst the bubble of anticipation here and reveal the protagonist of our discussion- ‘Bitcoin Pizza Day.’ Yes!!! I was talking about this auspicious day all this while because what else can be as perfect as a combination of Bitcoin and Pizza. With the crypto craze hurling up to a feverish level amongst investors, it is the right time to know more about the industry and its customary events. 

    Everything started on May 22, 2010, when a path-breaking event took place in the life of Laszlo Hanyecz, the man who unintentionally inked the date in the pages of the history of cryptocurrencies. The Bitcoin enthusiast shared his small wish on the Bitcointalk portal stating that is looking forward to purchasing two large pizzas with 10,000 BTC coins. Like any other common person, Laszlo would have never thought that his usual order of two pizzas will earn him insane popularity within the crypto space in the future. 

    Curious more? I know you are. So, as we are moving towards the 12th-anniversary celebration of Bitcoin Pizza Day, I will start unraveling all the secrets behind the popular event for you. 

    What is the story behind Bitcoin Pizza Day?

    The auspicious day garnered hype from the industry, not because of the use of BTC in the transaction, but because of the unrealistic price he paid for the purchase. Laszlo ordered two large pizzas from one of Papa John’s outlets on May 22, 2010, and agreed to pay 10,000 BTC for them. The Florida man sought assistance for the trade using the Bitcoin talk forum. 

    Where Bitcoin was a relatively rare concept back then, the pizza transaction by Laszlo gained a lot of popularity within the sector even in the present scenario. With a view to getting its imprint etched forever, the day is celebrated as Bitcoin Pizza Day by crypto fans. 

    Interestingly, Laszlo’s offer received a mixed reaction from the community members. While some people supported Laszlo’s craze for Bitcoin, others called it a less-thought-about trade by the man. Despite all this, Laszlo has no regrets about the transaction as he got to spend time with his family enjoying their favorite pizzas at home.  

    The popular pizza chain, Papa John considers Laszlo’s Bitcoin Pizza transaction as a significant event for the global crypto space. Presently, the Bitcoin price stands at a value of 29,215.50 USD and is having a steady run in the market space. If you think about it now, Laszlo paid 10,000 Bitcoins for the pizza delivery which presently has a whopping worth of 292,155,000 USD. So, undoubtedly, the price spent by Laszlo for the two large pizzas back then could have purchased a whopping number of pizzas from the same pizzeria at the present market rate. 

    Bitcoin’s Market Scope in the Future 

    Launched in 2009, Bitcoin is an innovative payment ecosystem that promotes the idea of paperless currency. It was introduced by a person or a group of persons under the pseudonym of Satoshi Nakamoto. The payment system was designed to work as a substitute for the traditional centralized payment infrastructures. The use of blockchain technology made Bitcoin a highly secured, transparent, and immutable resource for the finance world. As time passed, Bitcoin gained momentum and emerged as a popular trading tool for business entities, retailers, and investors. 

    While some consider it to be a safe haven for investment citing its non-inflationary nature, others find it to be risky because of the fluctuating dynamics of the crypto market. The currency stands tall as the biggest crypto network in terms of market capitalization and customer community. It won’t be an exaggeration if I say that Bitcoin is everyone’s favorite. Despite its downtrends, the coin has managed to sustain its position in the market space over the decade span it has been in the business. Investors have supported BTC amid the bullish and bearish trends equally. 

    The recent report released by the Economic Times placed Bitcoin at the third spot in the ‘Top cryptocurrencies to invest in 2022’ list. Ever since the start of 2022, Bitcoin is stuck in a mediocre period in terms of its price and value in the market. The price value ranged between $27,000 to $34,000 during the same period. Experts suggest that BTC is likely to enjoy success and reach a value crossing the mark of $74,000 by the end of 2022 giving a heave of sigh to the fans. 

    Thus, making an investment this year can help you fill up your pockets easily if we go by the speculations. The Bitcoin network allows users to buy coins in fractions which eventually helps small traders to join the BTC hub without worrying about big investments.

    If you want to keep up with the trends of blockchain industry, join our communities on Discord, Reddit and Telegram.

    This post was originally published on this site


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