What are we celebrating May 22nd?

On May 22nd, 2010, early bitcoin adopter Laszlo Hanyecz used bitcoin to buy two pizzas. This was the first time anyone was reported to have used bitcoin to buy physical goods.

I just want to report that I successfully traded 10,000 bitcoins for pizza.

The pizzas were made by Papa John’s, but Hanyecz had bought them secondhand from an 19-year-old named Jeremy Sturdivant.

Back in 2010, 10,000 bitcoin had a value of $41. Today, the same amount of bitcoin would be worth $250,000,000.

Why are we celebrating May 22nd?

We are celebrating two major things:

1. On that that day, for the first time, bitcoin became a medium of exchange. We should celebrate this and thank Laszlo!
2. Bitcoin is deflationary. This means that by time, bitcoin appreciates in its purchasing power. So if you consume less today, you will be able to buy more with the same amount of money in the future!

What happened to Laszlo Hanyecs and Jeremy Sturdivant?

Laszlo Hanyecs works as employee for a tech firm. Laszlo never regretted spending his bitcoin, since this was the ultimate purpose. Bitcoin was created to become a digital currency revolution. A P2P electronic cash network of payments, and by Laszlo’s incentive, he definitely got the ball rolling. Thank you, Laszlo!

Here is a 2 min interview with Laszlo

Jeremy Sturdivant says he spent all of his bitcoin to buy computer games and on travel expenses. More importantly, he claims that he has no regrets over the turn of events and that he was content with the fact he inadvertently played a pioneering role in our collective history.

Sturdivant and Haynecz had faded into obscurity from the public view on the internet, but their names pop up almost religiously every year around Bitcoin Pizza Day.