On this day in 2010, Laszlo Hanyecz, a software developer from Florida, made history by buying two pizzas for 10,000 Bitcoins.
This is the first ever commercial transaction made using the original cryptocurrency.
The request to buy pizzas with the help of Bitcoin was published by Laszlo five days before the actual transactions on the legendary BitcoinTalk forum.
With Bitcoin currently trading at nearly $70,000, these two Papa John's pizzas would now be worth over $700 million. Fourteen years ago, these pizzas were only $41.
The value of Bitcoins spent to purchase these pizzas is also known as the Bitcoin Pizza Index.
The community is now celebrating Bitcoin Pizza Day on May 22 to commemorate the historic transaction.
Not just pizza
In 2019, Hanyecz sat down for an interview with journalist Anderson Cooper. He said it wouldn't be healthy for him to think about the Bitcoin fortune he spent buying just two pizzas.
Besides the two pizzas, Hanyecz also purchased many other items using the original cryptocurrency.
In total, he spent over 100,000 BTC purchasing various items with Bitcoin. This means that he could have been one of the largest Bitcoin whales if he had continued to hold the entire sum instead of conducting trading transactions during the early days of Bitcoin adoption.
Bitcoin has failed to gain popularity as a means of payment, even though this was the initial pitch of its supporters. However, it has emerged as an effective store of value, with holders expecting price appreciation.