Celebrating 9 Years of (Really Expensive) Bitcoin Pizza

22nd May 2019

By now, May 22nd, better known as Bitcoin Pizza Day, has become a tradition. It marks the first time Bitcoin was used to buy goods, when in 2010 Laszlo Hanyecz paid 10,000 Bitcoin for two Papa John’s pizzas. Today, 10,000 Bitcoin would buy approximately 5,287,260 pizza pies. In honor of the ninth annual Bitcoin Pizza Day, we’re not only ordering Papa John’s, we’re taking a look at the hot cheesy numbers to see just how much the BTC to PJP (that’s Papa John’s Pizza) price has changed over the years.

 

Bitcoin Pizza Day 2010

Laszlo Hanyecz transferred 10,000 to Jeremy Sturdivant (or Jercos), who in turn ordered two Papa John’s pizzas to be delivered to Hanyecz. Even in 2010, Sturdivant got the better end of the deal there; the 10,000 Bitcoins were valued at about $41, while the pizzas were only $25. Still, it’s the beginning of Bitcoin as a currency.

 

Bitcoin Pizza Day 2011

Price of Bitcoin: $6.69

Price of two Papa John’s pizzas (at $15 per pizza): 4.48 BTC

Value of Jercos’ investment: $66,900

Number of pies 10,000 BTC would buy: 4,460

 

Bitcoin Pizza Day 2012

Price of Bitcoin: $5.10

Price of two Papa John’s pizzas: 2.94 BTC

Value of Jercos’ investment: $51,000

Number of pies 10,000 BTC would buy: 3,400

 

Bitcoin Pizza Day 2013

2013 was a very good year for Bitcoin, and by the end of the year, Bitcoin would reach $1,000 for the first time. Here’s a look at May 22, 2013 by the numbers:

Price of Bitcoin: $123.80

Price of two Papa John’s pizzas: 0.242 BTC

Value of Jercos’ investment: $1,238,000

Number of pies 10,000 BTC would buy: 82,533

 

Bitcoin Pizza Day 2014

Although Bitcoin dropped down from its four-digit highs, its price was still respectable in 2014. How much pizza would Hanyecz have eaten had he paid for it that day?

Price of Bitcoin: $509.64

Price of two Papa John’s pizzas: 0.0588 BTC

Value of Jercos’ investment: $5,096,400

Number of pies 10,000 BTC would buy: 339,760, easily feeding the average American city.

 

Bitcoin Pizza Day 2015

2015 was a low point for Bitcoin, but even at its low, 10,000 BTC was worth a lot.

Price of Bitcoin: $240.86

Price of two Papa John’s: 0.124 BTC

Value of Jercos’ investment: $2,408,600

Number of pies 10,000 BTC would buy: 160,573

 

Bitcoin Pizza Day 2016

2016 marked the beginning of a slow recovery for Bitcoin. By May 22, 2016, the price of Bitcoin had almost doubled from the year before, though not quite to where it was in 2014.

Price of Bitcoin: $442.62

Price of two Papa John’s pizzas: 0.067 BTC

Value of Jercos’ investment: $4,426,200

Number of pies 10,000 BTC would buy: 295,080

 

Bitcoin Pizza Day 2017

Although Bitcoin’s meteoric rise would come later in 2017, by May of that year it had not only crossed back over the $1000 mark, it had also reached $2000. What did the numbers look like on Bitcoin Pizza Day?

Price of Bitcoin: $2276.65

Price of two Papa John’s pizzas: 0.013 BTC

Value of Jercos’ investment: $22,766,500

Number of pies 10,000 BTC would buy: 1,517,766, or a pie per day for 4,216 years.

 

Bitcoin Pizza Day 2018

Bitcoin may have peaked at $19,000 in late 2017, but by Bitcoin Pizza Day of last year it was still at a very respectable price.

Price of Bitcoin: $8254.56

Price of two Papa John’s pizzas: 0.0036 BTC

Value of Jercos’ investment: $82,545,600

Number of pies 10,000 BTC would buy: 5,503,040, or a pie per person for the entire population of Slovakia.

 

Bitcoin Pizza Day 2019

2018 and the beginning of 2019 were rough for Bitcoin, with prices dipping into the $3000s. But a rally that started on April 1st has continued, making Jercos’ investment worth $79,308,900 on Bitcoin Pizza Day 2019. With Bitcoin currently at $7930.89, the price of two Papa John’s pizzas is 0.0037 BTC. As for Hanyecz? He’s still buying pizza! But if he had held onto those 10,000 BTC, today he could order 5,287,260 pies.

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