Next Wednesday May 22nd Is Bitcoin Pizza Day: The Why, How, When and What Around This Historic Day in the History of Money (#178 - 19 May 2024)

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May 22nd is a very special day in the history of Bitcoin and money.

That’s because, on May 22, 2010, Bitcoin enthusiast Laszlo Hanyecz posted online a receipt of the first documented purchase of goods in Bitcoin: two pizzas for 10,000 Bitcoin, the equivalent of US$41 at the time. 

This was the first time that Bitcoin was publicly used as a unit of account and a medium of exchange. 

But fourteen years later, those 10,000 Bitcoins are worth over $600 million!

His original message said:

I’ll pay 10,000 bitcoins for a couple of pizzas…like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a “breakfast platter” at a hotel or something, they just bring you something to eat and you’re happy!

I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc…just standard stuff no weird stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire.

If you’re interested please let me know and we can work out a deal.

Thanks,

Laszlo

And after no offer for three days, he even proposed to raise the price by saying:

But a transaction was finally made.

I highly recommend reading the entire message trail here.

This is the picture of those two famous pizzas (from Papa John’s), along with one posted by Laszlo himself enjoying his purchase.

May 22 is now celebrated by many in the global crypto community as “Bitcoin Pizza Day.” 

You can watch an interview with Laszlo (who paid those 10,000 Bitcoins for the pizza) here.

So, if you’re feeling bad about some financial decisions in your life, this is a reminder that things could be a lot worse!

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*Please note that this newsletter reflects Henri’s personal views and not those of any organisation he is involved with. This newsletter is for educational purposes only, and none of its content should be construed as investment or financial advice of any kind. 

Who is Henri?

Henri Arslanian is the co-founder and managing partner of Nine Blocks Capital Management, an institutional-grade hedge fund focused exclusively on digital assets, with a market-neutral crypto fund focused on generating alpha from inefficiencies in crypto markets using relative value, arbitrage, and quantitative strategies. 

Henri was previously a partner and global crypto leader at PwC. In that role, he advised many of the world’s leading crypto exchanges, investors, financial institutions, and tech firms on their crypto initiatives and numerous governments, regulators, and central banks on crypto regulatory and policy matters.

With over 500,000 LinkedIn followers, Henri is a TEDx and global keynote speaker, a best-selling published author, and is regularly featured in global media, including Bloomberg, CNBC, CNN, BBC, The Wall Street Journal, The Economist, and the Financial Times. 

Henri was named by LinkedIn as one of the 2022 global Top Voices in Finance and is the host of the CryptoCapsules™ social media video series as well as The Future of Money podcast and newsletter.