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Bitcoin Price on Pizza Day: Nostalgic Review from 2010 to 2023

Mon, 05/22/2023 - 06:46
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Alex Dovbnya
Every May 22, the crypto community marks a momentous event in Bitcoin's history: the first-ever commercial transaction with the cryptocurrency, which involved two pizzas and 10,000 Bitcoins
Bitcoin Price on Pizza Day: Nostalgic Review from 2010 to 2023
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On May 22, a celebratory event known as Bitcoin Pizza Day, the price of Bitcoin was recorded at $26,774, according to a tweet from cryptocurrency data platform CoinGecko.

Bitcoin Pizza Day is an annual event commemorating the first recorded commercial transaction using Bitcoin, wherein a programmer named Laszlo Hanyecz bought two pizzas for 10,000 bitcoins on May 22, 2010, when the cryptocurrency was worth less than a penny.

Since then, Bitcoin's price has experienced drastic highs and lows. After the initial purchase, the price of Bitcoin rose gradually, hitting its first notable peak in 2021 at $37,340, according to CoinGecko's data.

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However, in recent years, the Bitcoin price on Pizza Day has been on a downward trend, with it standing at $29,492 in 2022, and now at $26,774 in 2023.

If Hanyecz had held onto his 10,000 bitcoins rather than trading them for pizza, today they would be worth a staggering $267.74 million.

The irony of this monumental valuation underscores the unpredictable and volatile nature of cryptocurrency. Hanyecz's seemingly inconsequential transaction has now become a notable part of Bitcoin lore and a testament to its incredible rise in the global financial landscape.

Bitcoin Pizza Day serves not only as a nostalgic review of Bitcoin's evolution from its humble beginnings to becoming a recognized asset class, but it's also a stark reminder of the opportunity cost of spending Bitcoin.

With the current market scenario and the increasing adoption of cryptocurrencies, enthusiasts around the globe commemorate this day with a slice of pizza, celebrating the growth of this revolutionary digital asset.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at