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Bitcoin, Cryptocurrency, Featured

Bitcoin Pizza Day: A Myopic Blunder Worth $230 Millions

Jeremy (the pizza delivery student) says “It’s crazy to witness the transition of Bitcoin from merely a concept project to a global phenomenon today”. 

For a better context, May 22, 2022, highlights the twelve-year anniversary of “Bitcoin Pizza Day”. 12 years ago on this day, the very first real-life item was bought using bitcoins. Laszlo Hanyecz was craving pizza and bought two large ones from Papa John’s for himself. Simple and absolutely reasonable right? What makes it a historic crypto event is that he purchased the two in exchange for 10,000 Bitcoins. Jeremy Sturdivant was the recipient. 

What Is Bitcoin Pizza Day? How Did A Pizza Craving Make Headlines?

A talented programmer, Laszlo Hanyecz was looking for someone to get him two large pizzas in exchange for ten-thousand Bitcoins. The value of 10,000 Bitcoin during that time was forty-one dollars. As it was merely a concept, no one was willing to take up the offer. 

After days, 19-year student Jeremy Sturdivant agreed to accept the offer of two large pizzas against ten thousand Bitcoins and delivered them to Hanyecz in Florida. As soon as the pizza was delivered, Hanyecz posted it on a social platform with an image, and the news spread rapidly made headlines. The event is known as “Bitcoin pizza day”. Today, the valuation of 10,000 Bitcoins is nearly $230 million. 

Also Read: The Bitcoin Widow: How a Woman became a Victim to her Husband’s Multi-Million Crypto Scam?

Only Regrets Left For Sturdivant, Who Earned $230 Million Worth of Bitcoins

Jeremy Sturdivant, the nineteen-year-old pizza delivery boy never imagined in his wildest dreams that he could have been rich today. Sadly, he did not realize that the forty-one dollars worth of Bitcoins could have bought him a luxurious mansion, several private jets, and a private island. 

Although he agrees it to be the biggest regret, he simply utilized it for his expenses. Sturdivant stated that he never treated Bitcoins as an investment strategy. Since 2010 was famous for pizzas, no one could ever imagine it had the power to purchase real estate and private jets. However, Sturdivant is happy to be a part of “Bitcoin Pizza Day”, which is recognized globally today.

Also Read: The Bitcoin Family: An Overview into the Decentralized Nomad Lifestyle

Wrapping Up

Back then in 2010, it was unbelievable to predict the future of the world’s first cryptocurrency. Only months after purchasing two pizzas, the world witnessed the value of Bitcoin rise to $600 by August and $2600 by November 2010. By April 2011, the value of 10,000 Bitcoins soared up to $18,000, until today the valuation has reached $230,980,553.10. The event is globally popular today, and known as “Bitcoin Pizza Day”. 

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