The story of one individual spending 10,000 Bitcoin (BTC) back in 2010 to purchase 2 pizzas is now a legendary tale within the community, and is often posed as a reminder that investors should hodl.
May 22 is now celebrated as Bitcoin Pizza Festival in honor of the day when programmer Laszlo Hanyecz posted on the Bitcoin Forum that he would offer 10,000 BTC for 2 Papa John pizzas. Another user on the forum took him up on the offer, purchased the pizza on his behalf, and consequently received the tokens.
The two pizzas were worth $40, and Bitcoin’s initial price was $0.004. 10,000 Bitcoins are now worth about $80 million.
Hanyecz was recently interviewed about the incident. Despite the millions he could have had, he holds no regrets, and is actually quite peaceful about the matter,
I don’t regret it. It is a good thing to be able to participate in Bitcoin early. People know that I use Bitcoin to buy pizza. At the time, I didn’t think Bitcoin would be as popular as it is now. I just thought it would be Buying pizza in Bitcoin is a very cool thing.
In a market where investors can lose a lot of money, even an entire life’s savings, Hanyecz’s attitude is reassuring. For him, it was the fact that you could buy pizza with Bitcoin that was important.
The idea of buying food with Bitcoin is now growing – over 1,500 restaurants in Denmark now let users pay for online orders with the Bitcoin.