For the last nine years since the inception of this crypto holiday, the price of Bitcoin on this very day, May 22, would show a substantial rise from the previous year, save for three instances, in 2012, in 2015 and in 2019 (but the day is not over yet.)
This date is celebrated as the day when we all remember how, on this day in 2010, programmer Laszlo Hanyecz paid another Bitcoin talk forum user for two Papa John’s pizzas with 10,000 BTC. At the time, that would be worth about USD 25, but today the same amount is worth almost USD 80 million.
Bitcoin Pizza Day Chart by Cryptonews.com. Source: Coinpaprika.com, Buybitcoinworldwide.com
Prior to Hanyecz’s craving for pizza on that faithful day, the price of Bitcoin was low and rather volatile, negotiated by individuals on the Bitcoin forum. It is recorded that the price when the Bitcoin value at the time of the pizza purchase was 0.0025 cents for 1 coin.
However, just a year later, in 2011, the price is 258.7% higher, a jump that was assisted by a great number of events, including the viral video What Is Bitcoin? published by WeUseCoins in March that year (it has more than 9 million views now.) Even TIME magazine published an article about it in April.
There were fewer, though notable events in 2012, like March 1st theft of about 50,000 BTC, following a security upgrade in Linode. The price fell to USD 5. Events picked up at the end of that year, like WordPress accepting bitcoins starting November, and the beginning of 2013 with BitPay surpassing 10,000 transactions in January, and Bitcoin capitalization surpassing USD 1 billion in March. By May 22, the price of this coin was USD 124, which is 1,962% higher than year before.
The end of 2013 and the beginning of 2014 was a mixed bag for Bitcoin. On the one hand, USD 100 million were stolen from bitcoin wallets, China banned the coin and Norway decided against recognizing it, and there were issues with transactions in several big stock exchanges, making Bitcoin suffer a 30% decrease in price. On the other hand, many more companies and business started accepting and endorsing it, so that by May 22nd 2014, the price of a coin was USD 525.
2015 was a troublesome year as in January UK-based exchange Bitstamp announced that they will be offline while investigating a hack which resulted in a theft of about 19,000 bitcoins, and two US Federal agents pleaded guilty for stealing bitcoins during their active investigation into an online black market, Silk Road market. The price that May 22nd dropped to USD 241.
The end of that year and beginning of 2016 saw the Unicode Committee adopting the now famous bitcoin currency symbol (₿), as well as Craig Wright announcing that he is Satoshi Nakamoto. Among quite a few other events, the price of Bitcoin rose by USD 200 from the previous year, now standing at USD 443.
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The following three years up to this day were monumental for the coin, seeing a massive rise from one Pizza Day to the next. And while it had its fair share of ups and downs, it always managed to come on top, surviving a difficult crypto winter and numerous issues, but also consistently attracting major players in all spheres of life, including commerce and politics. From May 22 2017 when it was USD 2,303, the price jumped to USD 8,054 on the same day in 2018, dropping to 3,242 in December, only to explode in 2019, reaching USD 8,000 mark in May this year, and later today reaching USD 7,995.
This short history shows the trajectory in which, from the day when Hanyecz bought his pizzas till today, the price of Bitcoin rose by almost 320,000,000%. Not bad at all.
As, we have mentioned last year, there is even a Twitter account, called @bitcoin_pizza, that only posts how much Hanyecz’s pizzas are worth each day, comparing the price to the previous day.
The #Bitcoin pizza is worth $79,253,225 today. (+0.91% from yesterday) Today is Bitcoin pizza day!
— Bitcoin Pizza 🍕 (@bitcoin_pizza) May 22, 2019
Happy Bitcoin Pizza Day to all!
Unpopular opinion: Laszlo spending 10k Bitcoin on pizzas is the same as someone who spent $20 on the same pizza instead of buying Bitcoin
— MtGox (@MtGox101) May 20, 2019
Happy bitcoin pizza day freaks pic.twitter.com/yT0nNXR6sz
— Alex Millar (@thealexgalaxy) May 22, 2019
Happy #Bitcoin Pizza Day everyone.
The funniest comment from the original bitcointalk thread back then is this imo.
"10,000… That's quite a bit. You could sell those on https://t.co/K4czmQgRts for $41USD right now… Good luck on getting your free pizza."
$41 – 10,000 $BTC. pic.twitter.com/m66qJUtSWC
— Pierre (@pierre_crypt0) May 22, 2019
Happy #Bitcoin Pizza Day!! 🍕🥳
[tomorrow is actually New York Disagreement Day, if anyone wants to turn this celebration into a 48 hour blowout! 😆 – go to https://t.co/dFsZZXGjTN for all the #Bitcoin holidays]
— Guy Swann⚡ (@TheCryptoconomy) May 22, 2019
VERY, VERY DISRESPECTFUL https://t.co/vWtVq6Kohj
— ฿ully (@BullyEsq) May 22, 2019
Arguably one of the most important days in modern economics. See the transaction that will go down in history. It’s #bitcoin pizza day! https://t.co/6b40LPm7Qq Mamma Mia that’s an expensive pizza! pic.twitter.com/QA8BsFjcIx
— Nicolas Cary (@niccary) May 22, 2019
Happy Bitcoin Pizza Day you all!!!👏👍😍🍕
Some necessary clarification:
– it's ok to spend sats on pizza, IF you spend the fiat you would otherwise spend for pizza to buy sats instead;
– it's ok for carnivore Bitcoin… https://t.co/OwoColKLIM
— Giacomo Zucco [I identify as 'CSW is a Fraud'] (@giacomozucco) May 22, 2019