Today marks a legendary moment in cryptocurrency history—Bitcoin Pizza Day. Every year on May 22, the digital asset community celebrates the first real-world transaction using Bitcoin: when Laszlo Hanyecz paid 10,000 BTC for two delicious Papa John’s pizzas. What seemed like a simple meal order in 2010 has since become one of the most iconic stories in the evolution of decentralized finance.
This wasn’t just about hunger—it was a groundbreaking proof of concept. For the first time, Bitcoin moved from theory to tangible value, showing the world that digital currency could be used just like cash.
The First Real-World Bitcoin Transaction
Back in 2010, Bitcoin was still an obscure experiment. Few believed it would ever hold real value. Mining was done on personal computers, and transactions were limited to tech forums. That all changed thanks to Laszlo Hanyecz, a Florida-based programmer and early Bitcoin miner.
Having started mining Bitcoin in 2009, Hanyecz had accumulated a large number of coins—long before exchanges or wallets existed. But with no way to spend them, their utility remained theoretical. Determined to test Bitcoin’s potential as actual money, he made a now-famous post on the Bitcointalk forum:
“I’ll pay 10,000 BTC for a couple of pizzas… like maybe 2 large ones so I have some left over for the next day.”
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The idea was simple: if Bitcoin could buy something physical, it wasn’t just code—it was currency.
A fellow forum member named Jeremy Sturdivant, known online as “Jercos,” took up the challenge. He ordered two large Papa John’s pizzas using traditional payment methods and had them delivered to Hanyecz. In return, Hanyecz sent him 10,000 BTC. The transaction went through on May 22, 2010, marking the first known instance of Bitcoin being used to purchase goods in the real world.
It was a small act with massive implications.
The Most Expensive Pizzas in History
At the time, 10,000 BTC were worth roughly $41—just a few dollars per coin. There was no market to speak of, and most people viewed Bitcoin as a quirky hobby. Hanyecz later admitted he didn’t think much of the transaction; he was just excited to see if it would work.
Fast forward to today.
With Bitcoin hitting record highs—recently reaching an all-time high near $110,000—the value of those two pizzas now exceeds **$1.1 billion**. Yes, you read that right: over a billion dollars for pepperoni and cheese.
While Hanyecz has expressed no regrets—calling it “worth every satoshi”—the story has become a cautionary tale about volatility, timing, and the unpredictable nature of innovation.
May 22 is now celebrated globally as Bitcoin Pizza Day, a lighthearted yet profound reminder of how far cryptocurrency has come.
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The Birth of the Bitcoin Revolution
Laszlo’s pizza purchase may seem trivial at first glance, but its symbolic importance cannot be overstated. Before this moment, Bitcoin existed only in digital space—mined, traded between enthusiasts, and discussed in forums. But when those pizzas arrived at his door, something shifted.
For the first time, Bitcoin demonstrated real utility.
It proved that a decentralized digital asset could facilitate everyday commerce. This single transaction laid the foundation for everything that followed: merchant adoption, crypto payments, blockchain innovation, and institutional investment.
Over the next decade, Bitcoin evolved from a niche experiment into a global financial phenomenon. Countries began exploring central bank digital currencies (CBDCs), Wall Street launched Bitcoin ETFs, and major companies like Tesla and MicroStrategy added BTC to their balance sheets.
All of it traces back to a programmer who just wanted dinner.
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Why This Moment Still Matters
The story of the 10,000 BTC pizza isn’t just about lost fortunes—it’s about vision. While many today focus on price charts and trading strategies, Hanyecz’s action was rooted in belief. He didn’t sell. He didn’t hoard. He used Bitcoin—exactly what its creator, Satoshi Nakamoto, intended.
Bitcoin was designed to be digital cash, not just a store of value. The pizza transaction was its first real test—and it passed.
Even now, as debates rage over whether Bitcoin is better as “digital gold” or peer-to-peer electronic cash, this moment reminds us of its original purpose: to enable free, borderless transactions without intermediaries.
And while we’re not all paying billions for pizza (thankfully), the spirit lives on in every crypto payment processed today—from buying coffee with a wallet app to sending remittances across continents in seconds.
Frequently Asked Questions (FAQ)
Q: Who was Laszlo Hanyecz?
A: Laszlo Hanyecz is a software developer and early Bitcoin miner who made history by completing the first real-world transaction using Bitcoin when he paid 10,000 BTC for two pizzas in 2010.
Q: What was the value of 10,000 BTC at the time of the pizza purchase?
A: In May 2010, 10,000 BTC were worth approximately $41, based on an estimated exchange rate of $0.0041 per bitcoin.
Q: Why is May 22 called Bitcoin Pizza Day?
A: May 22 commemorates the date in 2010 when Laszlo Hanyecz bought two pizzas with 10,000 BTC—the first documented use of Bitcoin for a real-world purchase.
Q: Did Laszlo Hanyecz regret spending 10,000 BTC on pizza?
A: Publicly, Hanyecz has stated he doesn’t regret the transaction. He viewed it as an experiment to prove Bitcoin could be used as real money, and he considers it a success.
Q: Can you still spend Bitcoin on food today?
A: Yes! Many restaurants, food delivery services, and online platforms now accept Bitcoin and other cryptocurrencies through payment processors or crypto wallets.
Q: How has the value of Bitcoin changed since 2010?
A: From fractions of a cent in 2010, Bitcoin reached an all-time high near $110,000 in recent years—a growth of hundreds of millions of percent—making early transactions like the pizza buy incredibly valuable in hindsight.
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A Legacy Beyond the Slice
Laszlo Hanyecz’s story endures not because of what he spent—but because of what he proved. That night in 2010 wasn’t just about feeding himself; it was about feeding an idea. An idea that money could be reimagined. That trust could exist without banks. That freedom could be coded into software.
So on this Bitcoin Pizza Day, raise a slice in honor of that bold transaction. Whether you’re holding long-term or spending small amounts on daily goods, remember: every use case brings us closer to mainstream adoption.
And while you probably shouldn’t pay for dinner with thousands of BTC anymore… there’s still joy in knowing that something as simple as a pizza helped launch a financial revolution.