Pizza nights rarely need an explanation. But Bitcoin Pizza Day pizza nights deserve one.
Thirteen years ago today, Laszlo Hanyecz created a thread on the bitcointalk.org forum titled A pizza for bitcoins? After some explaining and lots of talking, Hanyecz found someone willing to buy him two pizzas (worth around $41) in exchange for his 10,000 bitcoins.
AT bitcoin price today, those pizzas are worth around $270,000,000.
Many regard Bitcoin Pizza Day as a cautionary tale that shows why people HODL long-term crypto. Yet many others look to the future on this day while considering Bitcoin’s unrealized potential and the power of decentralization.
Ultimately, Bitcoin Pizza Day became a celebration of Bitcoin’s viability as a fully-featured “peer-to-peer electronic payment system” — just as Satoshi envisioned it in the Bitcoin White Paper.
Money (including cash) is generally defined as:
- A medium of exchange
- A unit of account
- A store of value
On this day, more than ten years ago, the world understood that Bitcoin could be used as a medium of exchange. After all, Hanyecz was able to use Bitcoin while transacting with another person – without the involvement of any middlemen.
Yet over time, Bitcoin Pizza Day has also become a reminder of the progress Bitcoin has made in the other two functions of money.
As individuals continue to trade Bitcoin for goods and services – just as Hanyecz did years ago – Bitcoin’s viability as a global unit of account and independent store of value has also emerged. . Days like today remind us that proving its effectiveness as a medium of exchange first is what ultimately allowed Bitcoin to prove its legitimacy as a globally recognized unit of account and standalone store of value as well.
Bitcoin Pizza Day is a celebration of cryptocurrency And blockchain technologythe efficiency of the decentralization of information. It’s also a celebration of Bitcoin’s reliability as a form of hard currency.
For many others, Bitcoin Pizza Day is a celebration of the crypto values that Kraken embodies And the mission we deliver every day. It is a celebration of the freedom Bitcoin brings back to the ability of individuals to connect and transact.
Celebrate Bitcoin Pizza Day with Kraken
Kraken makes it easy to share the gift of financial freedom on Bitcoin Pizza Day.
Invite your friends to Kraken and you will each receive $10 in BTC thanks to our Sponsorship Program.*
You can also use Kraken to send Bitcoin worldwide in seconds using our Lightning Network the integration. Lightning Network is a highly secure and cost-effective way to send Bitcoins to anyone at almost no cost.
Have a great Bitcoin Pizza Day and rely on Kraken while sharing the Bitcoin giveaway today!
*Geographic restrictions apply