The first recorded exchange of cryptocurrency with a tangible product, pizza.
Bitcoin Pizza refers to the first ever use of cryptocurrency to buy something tangible and physical. This was far back in May 22, 2010, and involved a software developer named Laszlo Hanyecz who paid 10,000 units of Bitcoin (BTC) for a couple of pizzas. At the time, 10,000 BTC was equivalent to about $41.
The Bitcoin Pizza phenomenon is often used to describe the growth process of Bitcoin and wide usage of cryptocurrency compared to Hanyecz’s time. It is the proverbial first lighting of the electric bulb and serves as a historical framework for the potential of digital currencies and their applications in the real world.