How Two Pizzas Created a Domino Effect, Building a Trillion-Dollar Asset
Laszlo Hanyecz
made history by spending 10,000 Bitcoins to buy two Papa John's pizzas. Valued at just $41 at the time, this seemingly small purchase is now worth over $1 billion today, making the 2 pizzas the costliest pizzas in history, earning it the nickname 'billion-dollar pizzas'. But more than just a quirky anecdote, this transaction marked the first real-world use of Bitcoin, a moment now celebrated globally as
Bitcoin Pizza Day
.
Fifteen years later, Bitcoin has evolved from a fringe digital experiment to a globally recognised asset class, with institutional backing, government interest, and a market cap of over $2 trillion. Let's explore the remarkable journey of Bitcoin, from that first pizza order to becoming a cornerstone of the digital financial revolution.
Proof of Concept
Play Video
Pause
Skip Backward
Skip Forward
Unmute
Current Time
0:00
/
Duration
0:00
Loaded
:
0%
0:00
Stream Type
LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
1x
Playback Rate
Chapters
Chapters
Descriptions
descriptions off
, selected
Captions
captions settings
, opens captions settings dialog
captions off
, selected
Audio Track
default
, selected
Picture-in-Picture
Fullscreen
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text
Color
White
Black
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Text Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Transparent
Caption Area Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Transparent
Semi-Transparent
Opaque
Font Size
50%
75%
100%
125%
150%
175%
200%
300%
400%
Text Edge Style
None
Raised
Depressed
Uniform
Drop shadow
Font Family
Proportional Sans-Serif
Monospace Sans-Serif
Proportional Serif
Monospace Serif
Casual
Script
Small Caps
Reset
restore all settings to the default values
Done
Close Modal Dialog
End of dialog window.
While making the Bitcoin Pizza transaction, Laszlo Hanyecz had no idea that it would change the entire financial system. This transaction provided proof of concept that Bitcoin could become a real-world alternative for fiat currencies. There were no exchanges, no real utility, and no mainstream attention. The transaction demonstrated that Bitcoin could be used as a medium of exchange, proving its potential to function like traditional money. What started as a simple craving for pizza laid the foundation for something much bigger, which validated the idea that digital assets could hold real-world value and be used in everyday commerce.
Crypto Tracker
TOP COIN SETS
BTC 50 :: ETH 50
4.60%
Buy
DeFi Tracker
4.06%
Buy
Smart Contract Tracker
2.38%
Buy
Web3 Tracker
1.21%
Buy
NFT & Metaverse Tracker
-0.31%
Buy
TOP COINS
(₹)
Bitcoin
9,546,393 (
3.79%
)
Buy
BNB
58,529 (
3.49%
)
Buy
Ethereum
226,032 (
2.14%
)
Buy
XRP
207 (
1.59%
)
Buy
Tether
86 (
0.16%
)
Buy
Early Adoption of Bitcoin
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View
Details
»
In the early years following the Bitcoin Pizza transaction, not much had changed. However, the latter half saw a sudden boom in innovation, leading to the establishment of exchanges like Mt. Gox, allowing users to trade Bitcoin for fiat currencies. Innovations in digital wallets and mining software also improved accessibility. This made the use of Wallets easier and made Bitcoin a tradable asset. Although prices remained volatile, this period laid the groundwork for Bitcoin's entry into broader public consciousness. By 2013, Bitcoin crossed $1,000, gaining interest from speculators and tech-savvy investors.
Live Events
The Increasing Institutional and Government Interest
The true turning point came in 2017, when Bitcoin's price skyrocketed past $20,000, capturing global headlines. This dramatic rise drew global media attention and sparked interest from financial institutions. Multiple applications for Bitcoin Exchange-Traded Funds (ETFs) were filed, but the U.S. Securities and Exchange Commission (SEC) repeatedly rejected them, citing concerns around market manipulation.
After a long wait, in early 2024, the SEC approved 11 proposals from issuers, including BlackRock, Fidelity and VanEck, among others, to launch spot bitcoin ETFs. While futures-based ETFs had already been in existence for a few years, this approval from the SEC is what led to true mass adoption of Bitcoin, bringing in over $106 billion in inflows since its inception.
Along with asset management companies, corporate institutions like Strategy (Previously MicroStrategy), Tesla, MetaPlanet, and many more have also started accumulating Bitcoin as a strategic reserve, showing the growing interest in Bitcoin, further improving its adoption.
Another trigger that made Bitcoin a
trillion-dollar asset
is the government's interest in the asset as a store of value. Today, after years of evolution, major economies like the US, Brazil, and other countries are actively considering setting up a 'Bitcoin Strategic Reserve' just the Gold and forex. This intent from governments has increased the legitimacy of Bitcoin and
crypto
as an asset class, pushing Bitcoin's price towards new all-time highs.
Conclusion
From being traded for two pizzas to becoming a multi-trillion-dollar asset, Bitcoin's journey over the past 15 years is nothing short of extraordinary. It has challenged traditional financial systems, democratized access to wealth creation, and inspired a new generation of investors and innovators. While challenges remain, particularly around regulation, scalability, and public understanding, Bitcoin Pizza Day serves as a powerful reminder of how a single transaction can spark a financial revolution. As we commemorate 15 years of this iconic event, it's clear that Bitcoin is no longer just a speculative asset. It's a globally accepted financial tool, set to shape the future of money.
This article is attributed to Mr Edul Patel, Co-founder and CEO of Mudrex, a global
crypto investment
platform.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
2 minutes ago
- Indian Express
Ahead of elections, Bihar gets 7th Amrit Bharat train this year
Bihar elections 2025, Amrit Bharat Express: Good news for Bihar. Indian Railways is set to introduce another Amrit Bharat Express for the state, ahead of the upcoming Bihar elections. On Friday, Prime Minister Narendra Modi will flag off this modern train during his visit. With this, Bihar will receive its seventh Amrit Bharat Express train this year. Amrit Bharat trains offer a travel experience comparable to the Vande Bharat Express, but are specifically designed to provide affordable and high-quality service for passengers from lower and lower-middle income category. The Amrit Bharat trains come equipped with a range of upgraded features, including: semi-automatic couplers, modular toilets with new type of construction materials, strong pillar and partition, emergency talk back features, EP assisted brake system, newly designed seats and berths, pantry car in new design, continuous lighting system like Vande Bharat, fire detection system, gangways, external emergency lights, charging sockets along with mobile phone holders, etc. Bihar's new Vande Bharat Express train will run between Gaya and Delhi. With this, the total number of Amrit Bharat trains originating/passing from Bihar rises to eight. Darbhanga-Anand Vihar Terminal Amrit Bharat Express Saharsa-LTT Amrit Bharat Express Rajendra Nagar-New Delhi Amrit Bharat Express Bapudham Motihari-Anand Vihar Terminal Amrit Bharat Express Darbhanga-Gomti Nagar Amrit Bharat Express Malda Town-Gomti Nagar Amrit Bharat Express Sitamarhi-Delhi Amrit Bharat Express Source: Indian Railways Developed by Chennai-based Integral Coach Factory (ICF), the Amrit Bharat train has been designed to run at a maximum speed of 130 km per hour (kmph). The Ministry of Railways has raised the production of Amrit Bharat Express trains in the country. It has targeted to manufacture 100 more Amrit Bharat rakes for the benefit of the middle class and economically weaker sections.
Indian Express
2 minutes ago
- Indian Express
‘Work is not your life': London entrepreneur urges employees to leave work on time; gives 12 reasons why ‘it's not good for health'
A London-based entrepreneur's simple LinkedIn post about the importance of leaving the office on time has struck a chord with professionals online. In his reflection, Dan Murray reminded readers that 'work is a never-ending process, and your time is valuable.' While acknowledging the importance of jobs, he stressed they should not become our sole identity, or come at the cost of health, happiness, and relationships. Murray pointed out that extra hours rarely equal extra productivity, and that research shows efficiency drops sharply after the eight-hour mark. Putting in long days may look like commitment in the short term, he argued, but it is neither sustainable nor healthy. What resonated most was his emphasis on boundaries. Leaving on time, he said, isn't shirking responsibility—it's about protecting energy, relationships, and balance. It creates space to recharge, pursue hobbies, and spend quality time with loved ones, ultimately leading to greater well-being. He closed with a reminder that self-care benefits everyone: 'When you care for yourself outside of work, you'll be a better contributor to your team overall. Don't sacrifice your well-being for work.' The post went viral and netizens reacted to the post. An agreeing individual wrote, 'Leaving on time isn't about working less, it's about living more. A well-rested you will always bring more value than an overworked one.' Another user wrote, 'I love this post! Thanks for the reminder that work is a marathon, not a sprint. Our health and happiness depend on it.' A third person said, 'Love this… long hours might look like commitment, but they often erode the very qualities that make work great. Boundaries, rest, and time for life outside the office are what keep people energised and creative.'
&w=3840&q=100)
Business Standard
2 minutes ago
- Business Standard
India resumes canola oil imports after 5 years as domestic prices surge
India bought canola oil for delivery in August for the first time in nearly five years, as local prices hit a 3-½-year high, making overseas purchases lucrative, industry officials told Reuters. A shipment of 6,000 tons of canola oil from the United Arab Emirates is expected to arrive at Kandla port in Gujarat this month, said Rajesh Patel, managing partner at GGN Research, an edible oil trader. India mainly buys palm oil from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine. In July, rapeseed oil prices in the spot market surged to 167,000 rupees ($1,914.02) per ton the highest since February 2022 and almost 34 per cent above year-ago levels. "The price rally is creating an opening for imports, and we might see more coming in since the new local crop won't hit the market until March next year," said a Mumbai-based dealer with a global trade house. India's soyoil imports have also been rising, with some buyers substituting costlier rapeseed oil with the cheaper alternative, he said.
