The pepperoni on the first pizza bought with Bitcoin is worth $6.5M today

It’s been 13 years since programmer Laszlo Hanyecz made the primary industrial transaction with Bitcoin (BTC) on Might 22, 2010, shopping for two supreme pizzas from Papa John’s for a whopping 10,000 BTC, or $266 million at present costs.

That day is understood and celebrated as Bitcoin Pizza Day.

To commemorate the event, Cointelegraph sought to search out out the reply to 1 extra burning query. How a lot did it value to assemble these two well-known pizzas?

The supreme pizzas bought by Hanyecz in 2010. Supply: Web Archive

To reply this, it’s assumed that Hanyecz ordered Papa John’s “The Works” pizza, which is the pizza chain’s model of a supreme pizza.

Contemplating the quantity required and the worth of components on the time, right here’s what it will have value to place collectively simply one of many Bitcoin Pizzas, not together with labor, overhead and the pizza base.

  • Pepperoni: 244 BTC = $6.5 million
  • Bacon: 146 BTC = $3.8 million
  • Italian sausage: 97 BTC = $2.5 million
  • Onions: 24 BTC = $640,000
  • Inexperienced peppers: 36 BTC = $960,000
  • Mushrooms: 63 BTC = $1.6 million
  • Black olives: 121 BTC = $3.2 million
  • Cheese: 730 BTC = $19.4 million

Complete value of components: 1,461 BTC, or $39 million. Discuss an costly feast.

Historical past of Bitcoin Pizza Day

“Bitcoin Pizza Day” marks the world’s first transaction for real-world items utilizing Bitcoin and celebrates the large rise within the worth of the cryptocurrency since then, which was price solely $0.0041 in Might 2010 and is now price over $26,500 at present costs.

In the long run, Hanyecz’s pizza order was delivered 4 days after he posted his request on Might 18, 2010, on the Bitcointalk discussion board.

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“I am going to pay 10,000 bitcoins for a few pizzas,” he wrote, saying those that take up the request “could make the pizza your self and convey it to my home or order it for me from a supply place.”

Jeremy Sturdivant, a 19-year-old college pupil on the time, delivered the now-famous pizzas for the Bitcoin haul on Might 22, 2010. He advised Cointelegraph in 2018 that he bought them to afford a vacation and had “by no means seen Bitcoin as an funding.”

Hanyecz stated he didn’t remorse it, and his early work on Bitcoin led him to code a program that made it doable to mine the cryptocurrency on pc graphic processing items.

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