On May 22, 2010, programmer Laszlo Hanyecz made history by conducting the first documented real-world Bitcoin transaction—exchanging 10,000 BTC for two pizzas. Today, those Bitcoins would be worth over $260 million, yet Hanyecz laughs it off as his "best investment."
How Bitcoin Pizza Day Changed Crypto History
The Origins of a Landmark Transaction
At 12:35 PM on May 18, 2010, Hanyecz (username "Laszlo") posted a bounty on the Bitcoin Talk Forum:
"I'll pay 10,000 bitcoins for a couple of pizzas... maybe 2 large ones so I have some left over for the next day."
Back then:
- Bitcoin was virtually unknown, with no established exchange value.
- 10,000 BTC ≈ $30, making the offer seem reasonable.
- Only a handful of users responded, with logistical hurdles delaying the trade.
Four days later, Hanyecz confirmed the successful trade, sharing photos of the delivered pizzas—cementing May 22 as Bitcoin Pizza Day.
Why This Transaction Mattered
- First Proof of Bitcoin’s Utility: Demonstrated BTC could function as currency beyond theoretical mining.
- Community-Building Moment: The playful experiment highlighted Bitcoin’s potential for real-world use.
👉 Discover how early adopters shaped crypto’s future
Laszlo’s Perspective: No Regrets
In a 2019 interview, Hanyecz reflected:
"It felt like winning the internet—getting pizza for contributing to open-source. My hobby bought me dinner!"
Key insights:
- He mined Bitcoin easily using GPU setups, accumulating tens of thousands of BTC.
- Spent ~100,000 BTC total on everyday purchases, now worth billions.
- Remained low-key, avoiding social media fame despite his pivotal role.
Where Are the 10,000 Bitcoins Now?
The pizzas were supplied by Jeremy Sturdivant, a 19-year-old Californian who:
- Used the BTC to fund travels with his girlfriend.
- Later joked, "I never imagined Bitcoin would explode like this."
- Calculated his $400 profit (10x the initial $30 value) as "still a good deal."
The Legacy of Bitcoin Pizza Day
- Annual Celebration: May 22 is now a global crypto holiday.
- Cultural Symbol: The trade epitomizes Bitcoin’s volatility and early adopters’ foresight (or luck).
FAQ
Q: Did Laszlo regret spending 10,000 BTC?
A: No—he called it a fun experiment that proved Bitcoin’s real-world use.
Q: What’s the current value of those pizzas?
A: ~$260 million (based on BTC’s 2025 price).
Q: How did Bitcoin Pizza Day impact crypto adoption?
A: It became a foundational story, illustrating BTC’s potential beyond mining.
👉 Explore Bitcoin’s evolution from pizza to global asset
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