Bragi said to Ægir, many seasons ago, Thor had traveled into the east to fight the trolls,
Odin rode on his horse Sleipnir into the land of the giants, here he met the giant named Hrungnir.
Hrungnir had seen Odin from a great distance because Odin was equipped with his shiny golden eagle helmet. When Odin came closer he asked him, who are you to travel on such a fine horse in the sky and over the sea?
It is indeed a fine horse, and I bet my head that there is no horse as fine as Sleipnir in your lands. Hrungnir answered, your horse is good, but I have a horse myself called Gullfaxi, and my horse is much faster than yours.
I will teach you not to brag and losing his temper, Hrungnir jumped on to his horse and raced after Odin.
Odin yelled out a few words and his horse galloped so fast that he always was one hill or corner ahead of the giant. Hrungnir was in such a fury, that he had lost track of time and had traveled a huge distance, and suddenly found himself in the middle of Asgard.
While sitting on his horse outside of the great hall, the Æsir invited him inside to a drink. While walking into the hall, Hrungnir impatiently said give me the drink now.
The Æsir brought out Thor’s drinking bowls, and the giant was so thirsty that he emptied them all, the drunker Hrungnir became the more he boasted.
I can lift up Valhalla and take it to Jotunheim if I want, I will destroy Asgard and kill all the Gods, except Freya and Sif, they will come with me to my home. When Freya went to serve him more mead, he said, I will drink all the mead in Asgard.