What Is Bitcoin Pizza Day? The Complete Story of the 10,000 BTC Pizza Purchase

Key Takeaways

• Bitcoin Pizza Day celebrates May 22, 2010, when Laszlo Hanyecz paid 10,000 Bitcoin (worth approximately $41 at the time) for two Papa John's pizzas – marking the first documented real-world transaction using Bitcoin as currency.
• Those 10,000 Bitcoin have reached values exceeding $690 million in recent years, making this perhaps the most expensive meal in history.
• Both participants in the transaction – Laszlo Hanyecz (buyer) and Jeremy Sturdivant (seller) – have expressed no regrets despite the enormous increase in value over time.
• This historic transaction proved that Bitcoin could function as real currency for everyday purchases, not just as a digital novelty.
• Bitcoin Pizza Day is celebrated worldwide on May 22nd with special events, promotions, and community activities that honor this milestone in cryptocurrency history.

What Is Bitcoin Pizza Day?

Bitcoin Pizza Day commemorates the world's first documented purchase using Bitcoin as currency. On this historic day, a programmer exchanged 10,000 Bitcoin for two large pizzas, demonstrating for the first time that cryptocurrency could move beyond being merely a digital novelty and become a practical medium of exchange for physical goods.

What seemed like an ordinary transaction became legendary in the crypto world because it proved Bitcoin could function as actual money. The transaction established Bitcoin's first real-world valuation and showed that digital currency could have practical applications beyond theoretical discussions on forums and technical papers.

Over the years, Bitcoin Pizza Day has evolved into a worldwide celebration within the cryptocurrency community. It serves as a reminder of Bitcoin's humble beginnings and the vision of its early adopters who believed in its potential as a peer-to-peer electronic cash system. The day represents not just a transaction, but a pivotal moment that helped establish cryptocurrency's legitimacy as a functional currency.

When Is Bitcoin Pizza Day?

Bitcoin Pizza Day is celebrated annually on May 22nd. This date marks the anniversary of the famous 2010 transaction when Laszlo Hanyecz received two pizzas in exchange for 10,000 Bitcoin.

After posting his offer on the BitcoinTalk forum on May 18, 2010, it took four days before someone accepted the proposal and arranged for the pizza delivery on May 22nd. This date has become an unofficial holiday in the crypto community, with celebrations, events, and special promotions taking place worldwide each year on May 22nd.

The celebration has grown significantly over the years. What started as a simple acknowledgment among early Bitcoin enthusiasts has transformed into a global event that brings together cryptocurrency advocates, blockchain developers, and curious newcomers to reflect on how far digital currency has come since those early experimental days.

The Story of Bitcoin Pizza

In May 2010, when Bitcoin was still in its infancy, Laszlo Hanyecz posted a message on the BitcoinTalk forum that would forever change cryptocurrency history. His post read: "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 that time, Bitcoin had no established real-world value. Hanyecz wasn't trying to make history – he was simply hungry and wanted to prove that Bitcoin could be used to purchase something tangible. The concept of using cryptocurrency for everyday transactions was entirely novel, and many in the early Bitcoin community were curious whether it could actually work in practice.

A person from the United Kingdom named Jeremy Sturdivant (known as "jercos" on the forum) accepted his offer. Sturdivant ordered two large Papa John's pizzas for delivery to Hanyecz in Florida and received the 10,000 Bitcoin in return. The transaction was straightforward, but its implications were profound.

Hanyecz even posted pictures of the pizzas as proof that the exchange had taken place, creating a permanent record of this historic moment. This pizza purchase established Bitcoin's first real-world valuation – approximately $41 for 10,000 Bitcoin, or roughly $0.004 per Bitcoin. The transaction demonstrated that Bitcoin could bridge the gap between digital tokens and real-world goods, paving the way for cryptocurrency's future as a practical payment method.

The Man Behind Bitcoin Pizza: Laszlo Hanyecz

Laszlo Hanyecz wasn't just a Bitcoin enthusiast – he was one of the early pioneers in the cryptocurrency space. As a programmer from Florida, Hanyecz was among the first thousand miners on the Bitcoin blockchain and made significant technical contributions to Bitcoin's early development.

Notably, Hanyecz developed one of the first software implementations that enabled GPU mining (using graphics processing units instead of standard CPUs). This innovation dramatically increased mining efficiency and helped secure the Bitcoin network during its vulnerable early stages. His technical contributions went far beyond the famous pizza purchase, though that transaction remains his most well-known legacy.

Despite becoming famous for spending what would become billions of dollars worth of Bitcoin on two pizzas, Hanyecz has repeatedly expressed no regrets. In interviews, he explained: "It wasn't like Bitcoin had any value back then, so the idea of trading them for a pizza was incredibly cool." For him, the transaction was about proving Bitcoin's utility as currency rather than holding it as an investment.

Hanyecz continued to be involved with Bitcoin after his famous pizza purchase. Interestingly, in 2018, he made history again by becoming the first person to purchase pizza using Bitcoin's Lightning Network (a scaling solution designed to make Bitcoin transactions faster and cheaper). This demonstrated his continued belief in Bitcoin's potential as a practical payment system.

Jeremy Sturdivant: The Other Side of the Transaction

While Laszlo Hanyecz became famous for spending his Bitcoin on pizza, less attention has been paid to the person who received the 10,000 Bitcoin payment – Jeremy Sturdivant, known as "jercos" on the BitcoinTalk forum.

At just 19 years old when he executed the transaction, Sturdivant saw Hanyecz's post and decided to take advantage of the offer. He ordered the two Papa John's pizzas for delivery to Hanyecz and received the 10,000 Bitcoin in return. Unlike Hanyecz, who used Bitcoin he had mined, Sturdivant paid for the pizzas with conventional currency, essentially acting as an intermediary in this historic exchange.

What happened to those 10,000 Bitcoin? Contrary to what many might assume, Sturdivant didn't hold onto them until they became worth millions. According to interviews, he spent the Bitcoin within a year on various things, including a trip with his girlfriend. At the time, Bitcoin was considered an experimental currency, not an investment vehicle, and the concept of "hodling" (holding cryptocurrency long-term) hadn't yet become part of crypto culture.

Like Hanyecz, Sturdivant has also expressed no regrets about not keeping the Bitcoin, as its future value was completely unpredictable at that time. Both participants in this historic transaction understood they were part of an experiment, and their willingness to use Bitcoin for real-world transactions helped establish its legitimacy as a functional currency.

The Value Perspective

The Bitcoin Pizza transaction has become legendary primarily because of what those 10,000 Bitcoin would be worth in recent years. At the time of purchase in May 2010, the 10,000 Bitcoin were worth approximately $41, meaning each Bitcoin was valued at roughly $0.004.

The growth in value over time tells an astonishing story:

• Nine months after the purchase, Bitcoin reached parity with the US dollar, making those pizzas worth $10,000.
• By 2015, on the fifth anniversary of Bitcoin Pizza Day, those 10,000 Bitcoin were valued at $2.4 million.
• In recent years, when Bitcoin has traded above $69,000, those same 10,000 Bitcoin would be worth more than $690 million.

This price history has made these pizzas arguably the most expensive food ever purchased. However, this increase in value shouldn't be viewed as a mistake on Hanyecz's part, but rather as evidence of Bitcoin's remarkable journey from an unknown digital token to a global financial asset.

The Bitcoin Pizza story serves as a powerful educational tool about cryptocurrency's potential as an asset, though it also highlights the volatility and uncertainty inherent in emerging technologies. It reminds us that the true value of any currency ultimately depends on what people are willing to exchange for it, and that early adopters of revolutionary technologies often sacrifice potential gains to prove the technology's viability.

The story also illustrates an important economic principle: for Bitcoin to function as currency, people need to spend it. Hanyecz's willingness to use his Bitcoin for a real purchase helped establish its utility and value proposition, contributing to the ecosystem's overall growth.

How Is Bitcoin Pizza Day Celebrated?

What began as a simple transaction has evolved into a full-fledged celebration in the crypto community. Bitcoin Pizza Day is celebrated worldwide on May 22nd each year with a variety of events and activities:

• Many cryptocurrency exchanges and companies host special promotions or giveaways to commemorate the day.
• Pizza restaurants in crypto-friendly locations may offer discounts to customers who pay with Bitcoin, recreating the spirit of the original transaction.
• Crypto meetups and conferences are often scheduled around this date, bringing together community members to discuss Bitcoin's history and future.
• Social media platforms fill with memes, stories, and reflections about the famous pizza purchase, creating viral moments that introduce newcomers to cryptocurrency.
• Charitable initiatives emerge where people donate Bitcoin to buy pizzas for those in need, combining celebration with community service.
• Educational webinars and podcasts discuss the historical significance of the transaction and its impact on cryptocurrency adoption.

The celebration serves multiple purposes: honoring one of the most important events in Bitcoin's history, educating newcomers about cryptocurrency, and bringing the community together. It's also a time to reflect on how far Bitcoin has come since those early days and speculate about where it might go in the future.

Some enthusiasts even purchase commemorative items like Bitcoin Pizza Day t-shirts, mugs, artwork, and special edition hardware wallets. These items have become collectibles within the crypto community, serving as tangible reminders of this pivotal moment in digital currency history.

The Impact on Crypto Adoption

The Bitcoin Pizza transaction had a profound impact on cryptocurrency adoption that extends far beyond its monetary value. Before this purchase, Bitcoin existed primarily as a theoretical concept and technical experiment. The pizza transaction provided tangible proof that Bitcoin could function as a medium of exchange for real-world goods and services.

This milestone helped shift perceptions about cryptocurrency from being merely a digital curiosity to potentially revolutionizing how we think about money. It established a precedent for real-world valuation of Bitcoin, giving people a reference point for its value. More importantly, it demonstrated Bitcoin's core purpose as envisioned by its founder Satoshi Nakamoto: a peer-to-peer digital payment system.

After this precedent was established, more and more individuals and businesses began accepting Bitcoin as payment. What started with two pizzas expanded into a world where cryptocurrencies are accepted by major retailers, travel services, and even some governments. In recent years, hundreds of thousands of Bitcoin transactions occur daily, with the cryptocurrency being used for everything from online purchases to international remittances.

The Bitcoin Pizza story continues to serve as an accessible entry point for explaining cryptocurrency to newcomers, helping bridge the gap between technical complexity and practical understanding. It demonstrates that cryptocurrency isn't just about speculation or investment – it's about creating a new paradigm for how value can be exchanged in the digital age.

Interesting Facts About Bitcoin Pizza Day

Here are some fascinating facts about the famous Bitcoin Pizza transaction:

• Laszlo Hanyecz's transaction was recorded in block 57,043 of the Bitcoin blockchain, creating a permanent record that can still be verified on the network.
• The total cost was actually 10,001 Bitcoin because Hanyecz also included a 1 Bitcoin transaction fee, demonstrating early understanding of how blockchain networks operate.
• It took four days from Hanyecz's forum post until the actual pizza delivery, showing the experimental and uncertain nature of early Bitcoin transactions.
• Hanyecz's Bitcoin address was used in more than 3,300 transactions after the famous pizza purchase, indicating his continued active participation in the Bitcoin ecosystem.
• In February 2018, Laszlo Hanyecz made history again by becoming the first person to purchase pizza using Bitcoin's Lightning Network, paying 0.00649 Bitcoin for two pizzas.
• The Bitcoin Pizza transaction has been commemorated in various forms of crypto art and NFTs, becoming a cultural icon within the digital asset space.
• Some cryptocurrency enthusiasts calculate the "Bitcoin Pizza Index" to track how many pizzas one could buy with one Bitcoin over time, creating an informal measure of Bitcoin's purchasing power.
• While most people focus on Laszlo's "loss," both he and Jeremy Sturdivant have stated they have no regrets about the transaction, viewing it as a necessary step in Bitcoin's evolution.
• The two pizzas were reportedly topped with standard ingredients, making them ordinary pizzas that became extraordinary through their role in cryptocurrency history.

Conclusion

Bitcoin Pizza Day represents far more than an expensive meal – it symbolizes the moment when cryptocurrency began its journey from theoretical concept to practical currency. By exchanging 10,000 Bitcoin for two pizzas, Laszlo Hanyecz helped demonstrate Bitcoin's potential as a medium of exchange and established its first real-world valuation.

While many focus on how much those Bitcoin would be worth in recent years, the true significance lies in what the transaction represented: proof that digital currency could be used to purchase physical products. This precedent paved the way for broader adoption and helped launch Bitcoin into public consciousness.

For beginners entering the crypto world, Bitcoin Pizza Day offers important lessons about the history of digital assets, their potential for growth, and their fundamental purpose as a medium of exchange. It reminds us that technologies often start from simple use cases before they revolutionize entire industries.

The story also teaches us about the nature of innovation and risk-taking. Hanyecz and Sturdivant were willing to experiment with an unproven technology, and their willingness to use Bitcoin for real transactions helped establish its legitimacy. Without early adopters willing to spend their cryptocurrency, Bitcoin might have remained a theoretical curiosity rather than becoming a global financial phenomenon.

As we celebrate Bitcoin Pizza Day each year on May 22nd, we're not just commemorating an expensive pizza purchase – we're celebrating a pivotal moment that helped change how the world thinks about money in the digital age. The transaction represents the bridge between the old financial system and the emerging world of decentralized digital currencies, reminding us that every revolutionary technology needs practical use cases to prove its worth.

Bitcoin Pizza Day stands as a testament to the power of experimentation, the importance of early adoption, and the unpredictable nature of technological innovation. It's a story that continues to inspire new generations of cryptocurrency enthusiasts and serves as a reminder that sometimes the most significant moments in history come from the simplest of actions.

FAQ

When did Bitcoin Pizza Day happen and what exactly occurred?

Bitcoin Pizza Day occurred on May 22, 2010, when programmer Laszlo Hanyecz purchased two pizzas using 10,000 BTC. This marked the first known commercial transaction using Bitcoin for real-world goods, establishing Bitcoin's practical utility beyond theoretical value.

Why did Laszlo Hanyecz use 10,000 bitcoins to purchase pizza, and what was his motivation?

Laszlo Hanyecz's primary motivation was to demonstrate Bitcoin's practical utility as a medium of exchange. He wanted to prove that Bitcoin could function as real currency for everyday transactions, not just as a speculative asset. This historic transaction showcased Bitcoin's viability for commerce.

How much are the 10,000 bitcoins worth now?

The 10,000 bitcoins are worth approximately 998.78 million USD as of January 10, 2026, based on current market prices.

What impact did Bitcoin Pizza Day have on Bitcoin's development and adoption?

Bitcoin Pizza Day demonstrated Bitcoin's real-world payment potential, marking the first physical goods transaction. It catalyzed community innovation, inspired adoption initiatives, and strengthened crypto culture, establishing Bitcoin as a practical medium of exchange beyond digital speculation.

Why is Bitcoin Pizza Day considered an important milestone in cryptocurrency history?

Bitcoin Pizza Day marks the first known commercial transaction using Bitcoin in 2010, when 10,000 BTC were exchanged for two pizzas. This event symbolizes Bitcoin's transition from a niche digital asset to a recognized medium of exchange, demonstrating its practical utility and establishing it as a historical landmark celebrated annually on May 22nd.

Do people still celebrate Bitcoin Pizza Day, and what is its special significance?

Yes, people continue celebrating Bitcoin Pizza Day annually on May 22nd. It commemorates the historic 2010 transaction when Laszlo Hanyecz purchased two Papa John's pizzas with 10,000 BTC. This milestone represents Bitcoin's first real-world commercial use, symbolizing cryptocurrency's evolution from concept to practical payment medium. The day reflects the crypto ecosystem's remarkable progress and development.