On May 18, 2010, in the early days of Bitcoin, a programmer named Laszlo Hanyecz posted a now-famous offer on the Bitcointalk forum. He proposed paying 10,000 bitcoins for "a couple of pizzas." This seemingly simple request would go down in history as the first real-world Bitcoin transaction. However, the deal did not happen overnight — it took four days to find a taker. Today, those 10,000 bitcoins are worth over $670 million, making this the most expensive pizza order in history.
The Historic Offer: 10,000 BTC for Pizza
Back in May 2010, Bitcoin was barely a two-year-old experiment, with only a handful of enthusiasts mining and trading it on forums. Hanyecz wrote: "I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some [leftover] for the next day. I like having [leftover] pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself." When asked about his location, Hanyecz replied he was in Jacksonville, Florida. Some community members suggested he could get a better deal. "10,000… That’s quite a bit… you could sell those on [Bitcoin Market] for $41 USD right now… good luck on getting your free pizza," one person commented. Others mentioned ordering from Domino's or Papa John's.
Four Days of Waiting: From Silence to Success
By May 21, three days after the original post, no one had responded to Hanyecz's request. The programmer asked: "So nobody wants to buy me pizza? Is the bitcoin amount I’m offering too low?" Several users noted they were not in the U.S. and jokingly asked if he was "getting hungry or do you just like pizza?" Finally, on May 22, 2010, Hanyecz announced the successful trade. "I just want to report that I successfully traded 10,000 bitcoins for pizza," he informed the community. Fellow developer Martti Malmi (known as Sirius) replied: "Congratulations Laszlo, a great milestone reached." This transaction is officially recognized as the first documented commercial transaction using bitcoin, marking a pivotal moment in the cryptocurrency's history.
Value Soaring: From $41 to $670 Million
At the time of the trade, 10,000 BTC were worth approximately $41. As of May 2024, with bitcoin trading well above $67,000, those coins would be valued at about $670 million — a gain of over 16 million percent, highlighting Bitcoin's extraordinary growth. Hanyecz later stated he does not regret the deal, as it proved bitcoin's utility as a medium of exchange. Interestingly, he even kept the offer open in June: "This is an open offer by the way.. I will trade 10,000 BTC for 2 of these pizzas any time as long as I have the funds." The pizzas came from Papa John's. In 2021, Papa John's tweeted: "11 years ago today, a very hungry programmer, Laszlo Hanyecz, paid 10,000 bitcoin for two Papa John's pies, marking the very first bitcoin pizza transaction, ever."
The Significance of Bitcoin Pizza Day
Every May 22, the crypto community celebrates "Bitcoin Pizza Day." It commemorates not just an expensive lunch, but the first real-world exchange of a decentralized digital currency. This event continues to inspire enthusiasts and serves as a reminder of how far bitcoin has come — from an obscure internet token to a multi-trillion-dollar asset class. The story of Hanyecz's pizza order remains one of the most iconic tales in cryptocurrency lore, illustrating both the humble beginnings and the staggering potential of digital assets.