#BinnacePizza refers to the first known purchase of physical goods using bitcoin. On May 22, 2010, Laszlo Hanyecz, the programmer who would go on to become famous for being the man who bought pizza with bitcoin, made a post on a Bitcoin forum called Bitcointalk. He was looking to make a deal with someone who would take bitcoin as payment for pizza. Hanyecz wrote: “I’ll pay 10,000 bitcoins for a couple of pizzas.. Like maybe 2 large ones so i have some left over for the next day..”
At the time, 10,000 BTC was equivalent to approximately 41 USD, meaning each bitcoin was worth about 0.0041 USD. Hanyecz’s offer was taken up by another Bitcointalk user, who paid 25 USD for the two pizzas.