Around a decade ago in 2010, the value of a single Bitcoin (BTC) was a mere 5 cents. Today, it’s worth around $35,000! Originally, it was just a “fun” digital currency used by computer enthusiasts and futurists. Nobody thought that it was going to the moon as it has in the past few years. So that being said, what is the multi-million-dollar bitcoin for pizza deal?
Back in 2010, Laszlo Hanyecz called Papa Johns Pizza to order two large pizzas. He was short on cash that day, so he decided to pay with 10,000 Bitcoins (valued at around $40 back then). Today, that sum would be worth $345 million!
Bitcoin and cryptocurrency are changing the way that the world does business, including the way that we order pizza! Below, I’ll elaborate on the details of this insane pizza order and answer a few of the most commonly asked questions regarding crypto payments and pizza ordering. Let’s check it out!
Bitcoin For Pizza: The $345-Million-Dollar Meal
Laszlo Hanyecz was a computer programmer who recognized the value of cryptocurrency before it achieved the widespread popularity that it has today. Back in 2010, he was mining Bitcoins on his home computer and had amassed a good number of them.
After a late night of computer work, Laszlo decided that he was going to order himself a pizza. He was short on cash and wanted to test the real-world application of Bitcoin for everyday transactions.
He called Domino’s pizza and asked if they would take his Bitcoin for a pizza… they said no.
He called Pizza Hut and asked them how much a pizza would be if he paid in Bitcoin, and received the same answer.
Finally, he tried calling Papa Johns. To his surprise, they agreed to take a payment of 10,000 Bitcoin in return for two large pizzas. At the time, 10,000 BTC was only worth around $40. To Laszlo, this was a great deal, as he had mined the Bitcoins for free on his PC.
What neither party knew, though, was that 10,000 BTC would be worth nearly half a billion in just 10 short years! Although Bitcoin has seen a recent downturn, it’s still valued at just under $35,000. This means that Laszlo’s 10,000 BTC is worth $345 million today. Pretty crazy, right? I still think about the time that I threw away an old laptop with bitcoin on it years ago.
Recently, Laszlo was interviewed about his decision. Surprisingly, though, he has no regrets. At the time, who could have ever guessed that the barely-known cryptocurrency would be worth so much? The one thing that it did earn Laszlo, though, was a place in the cryptocurrency hall of fame!
Buying Pizza With Bitcoin and Crypto
Today, it’s become increasingly popular to use Bitcoin for everyday purchases. There are a wide number of restaurants that take BTC payments. I even saw some pizzerias in Asheville that take Bitcoin last time I traveled there!
Even though you may not be able to pay for all of your pizza and food with Bitcoin, the number of institutions that accept it is rapidly increasing. You can also apply for Bitcoin debit/credit cards that you can use on the Visa network, meaning that you can technically use your crypto funds anywhere that accepts regular credit cards (even your local Little Caesars Pizza!)
Can You Buy Panera Flatbread Pizza With Bitcoin?
Although Panera is traditionally known for coffee and bread, they recently started their own line of flatbread pizzas (see my review here). Although Panera doesn’t officially accept crypto payments yet, they do allow you to use your crypto credit or debit card. So, I took advantage and tried mine out. The transaction was smooth, and I had no problems!
Buy Your Next Pizza Oven With Crypto
In addition to buying your pizza with crypto, you can also use Bitcoin or your Bitcoin debit card with many online retailers, including Amazon. Recently, I purchased my own wood-fired pizza oven and a brand-new Kamado pizza stone from Amazon, using my Bitcoin debit card, and even earned a 2% cash-back reward!
Final Thoughts
Although most pizzerias still won’t accept Bitcoin for pizza, you can still use Bitcoin and cryptocurrency to pay for your meals by using a Bitcoin debit card. With inflation of the U.S. Dollar (and other global fiat currencies) looming on the horizon, it’s never been a better time to start using crypto for your day-to-day purchases, even if it’s just a slice of pizza!