Tech

Bitcoin Pizza Day is being marked by crypto fans, who are grabbing a slice as a tribute to famed bitcoin trader Laszlo Hanyecz

Happy Bitcoin Pizza Day! 

Exactly 11 years ago today, a software programmer from Florida, Laszlo Hanyecz, became well known in the crypto world after trading 10,000 bitcoins for two Papa John’s pizzas. In honor of that purchase, the date is now celebrated in the crypto calendar as “Bitcoin Pizza Day.”

“It wasn’t like bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool,” Hanyecz said in an interview with the Times in 2013

Bitcoin gained worldwide attention at the end of 2017 as its value drew close to $20,000 and infiltrated trading and investment firms across Wall Street, as Insider previously reported.

The coin’s origins stem from an anonymous creator, Satoshi Nakamoto, whose vision was to build a rival financial system based on a technology called blockchain back in 2008. 

Despite the soaring value of bitcoin in recent years, Hanyecz claims to have no regrets about his pizza trading, The Sun reported.

In 2018, he gave an interview to Cointelegraph. He said: “You know, I don’t regret it. I think that it’s great that I got to be part of the early history of bitcoin in that way, and people know about the pizza and it’s an interesting story because everybody can kind of relate to that and be [like] — “Oh my God, you spent all of that money!” 

Years later, the cryptocurrency is still garnering support as several multinationals are choosing to use bitcoin as a valid form of payment for consumer products, including fast-food chains, big tech firms, and even auction houses.

However, bitcoin is known for its volatility and after reaching all-time highs earlier this year, it has experienced many price drops.

The currency slid by as much as 11% Friday, cancelling out earlier gains after China repeated its demand for a crackdown on mining and trading of the cryptocurrency.

 

 

 

 

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