On May 22, 2010, a programmer named Laszlo Hanyecz made what is now considered one of the most iconic transactions in digital currency history: he spent 10,000 bitcoins to buy two pizzas. At today’s valuation—approximately $26,600 per BTC—that simple meal would cost over **$266 million*, earning it the title of the most expensive pizza ever purchased*.
This event didn’t just make headlines—it birthed a cultural milestone. Every year on May 22, the crypto community celebrates Bitcoin Pizza Day, commemorating the first real-world use of Bitcoin as money.
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From Concept to Real-World Value
Before Laszlo’s famous purchase, Bitcoin was little more than an experimental idea. Satoshi Nakamoto had published the now-legendary whitepaper, Bitcoin: A Peer-to-Peer Electronic Cash System, on October 31, 2008. The network went live on January 3, 2009, when the genesis block was mined.
But for over a year, Bitcoin had no tangible value. There were no exchanges, no prices, and almost no users. It existed purely as a technological proof-of-concept—until Laszlo stepped in.
In May 2010, mining Bitcoin was still accessible to anyone with a home computer. Thousands of coins could be earned with minimal effort. To many, they seemed like digital play money—worthless tokens generated by code.
Laszlo, a Florida-based developer and early Bitcoin enthusiast, saw potential. On May 18, he posted to the Bitcoin 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.”
At the time, the post was met with skepticism—and even mockery. People couldn’t fathom trading thousands of BTC for something as mundane as food. But four days later, history was made.
A British man named Jeremy Sturdivant (known online as “jercos”) accepted the offer. He ordered two Papa John’s pizzas and delivered them to Laszlo. The transaction was recorded on the blockchain, marking the first known real-world exchange using Bitcoin.
This moment gave Bitcoin its first market price: **$0.0025 per BTC**, or $25 for 10,000 coins. That price may seem laughable now, but it was revolutionary then—it proved Bitcoin could function as money.
Why This Transaction Changed Everything
The significance of this trade goes far beyond hunger or humor. It represented a pivotal shift:
- From theory to practice: Bitcoin moved from abstract code to actual purchasing power.
- Proof of adoption: Someone was willing to accept BTC for goods—validating its utility.
- Market price established: For the first time, Bitcoin had a reference value, paving the way for exchanges and trading.
Without this transaction, it might have taken months—or even years—before Bitcoin gained real-world traction. Laszlo didn’t just buy dinner; he helped launch a financial revolution.
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The Aftermath: Where Are They Now?
Despite spending what would become hundreds of millions of dollars, Laszlo Hanyecz has remained humble and grounded. He continued working as a software developer and contributed to Bitcoin’s early development, including improvements to mining on GPUs.
He’s often asked if he regrets the trade. His response?
“I don’t feel bad about it. I got to eat the pizzas. I enjoyed them.”
As for Jeremy Sturdivant, he held onto some of the BTC he received but eventually spent or lost much of it. Like many early adopters, he didn’t foresee the astronomical rise in value.
Their stories highlight a common theme in innovation: visionaries often don’t reap the full rewards of their foresight. But their actions create ripple effects that shape entire industries.
Lessons from Bitcoin’s First Purchase
1. Value Is Subjective—Until It Isn’t
In 2010, 10,000 BTC seemed like an excessive price for pizza. But value isn’t fixed—it evolves with adoption. What seems absurd today might be genius tomorrow.
2. Early Adoption Carries Risk—and Reward
Back then, few believed Bitcoin would survive, let alone thrive. Those who participated weren’t thinking about wealth—they were curious tinkerers exploring a new frontier.
3. History Favors the Experimenters
Laszlo didn’t wait for permission. He tested Bitcoin’s promise in the real world. That spirit of experimentation remains central to blockchain innovation today.
4. Opportunity Often Looks Like Noise
Many saw Laszlo’s post as a joke. But behind every disruptive technology is someone trying something that others dismiss.
Could This Happen Again?
While we’ll never see another 10,000-BTC pizza deal, new opportunities emerge constantly in crypto:
- Emerging blockchains offer early access to decentralized applications.
- NFTs and digital ownership are redefining art and identity.
- DeFi platforms enable financial services without banks.
The key is recognizing potential before it becomes obvious.
Frequently Asked Questions
Q: Who bought the two pizzas with 10,000 BTC?
A: Laszlo Hanyecz, a programmer and early Bitcoin contributor, made the purchase in May 2010.
Q: How much were the pizzas worth at the time?
A: The two Papa John’s pizzas cost around $25—making the BTC price $0.0025 per coin.
Q: Why is May 22 called Bitcoin Pizza Day?
A: It marks the anniversary of the first real-world transaction using Bitcoin.
Q: Does Laszlo regret spending 10,000 BTC?
A: No—he’s stated publicly that he enjoyed the pizzas and doesn’t regret being part of history.
Q: What happened to the person who sold the pizzas?
A: Jeremy Sturdivant (jercos) received the BTC and later spent or lost most of it, unaware of its future value.
Q: Can I still make impactful crypto moves today?
A: Absolutely. While early days are behind us, innovation continues in areas like Layer 2 solutions, AI-integrated blockchains, and tokenized assets.
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Final Thoughts: The Ripple Effect of One Decision
The story of 10,000 BTC for two pizzas isn’t just about missed fortunes or wild appreciation. It’s about belief in an idea before it proves itself.
Today’s blockchain landscape is filled with similar moments waiting to happen—new protocols, new use cases, new ways to rethink money and ownership.
We can’t predict which ones will become transformative. But we can stay curious, stay involved, and be ready to act when opportunity knocks.
Just remember: every major movement starts with someone doing something that looks crazy at the time.
And sometimes… it starts with pizza.