On May 18th 2010 Laszlo Hanyecz made known on a forum at bitcointalk.org that he was willing to buy 2 pizzas for a price of 10,000 Bitcoins. At the time this was worth $41. Four days later on May 22nd the transaction took place. Forum member Jeremy Sturdivant from California took him up on the deal and had two Papa John's pizzas deliverd to Laszlo in Florida. This date has become known as Bitcoin Pizza Day.
The index is the value of 10,000 Bitcoins at today's market price. The index illustrates the deflationary properties of Bitcoin.
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