The following is an excerpt on Bitcoin Pizza Day from “Fiat Ruins Everything” by Jimmy Song. Visit the Bitcoin Magazine Store to order a print, digital or audio copy of the book.

Pizza Day is often viewed with a sense of regret.

The well-known story goes like this: many years ago, Laszlo Hanyecz bought two Papa John’s pizzas, and in return, some fortunate person received 10,000 BTC.236 This tale resembles that of Peter Minuit purchasing Manhattan Island for a mere $24. It’s hard to believe such a transaction took place, considering the current value.

The story has several…

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