On May 22, 2010, Laszlo Hanyecz, a Florida-based programmer, made history by purchasing two large Papa John’s pizzas for 10,000 bitcoin (BTC) – the first documented real-world transaction using the leading cryptocurrency. Fifteen years later, as Bitcoin trades at $110,663, those pizzas are now worth a staggering $1.1 billion. The global crypto community celebrates this milestone on Bitcoin Pizza Day 2025.
From $41 to $1.1 Billion: The Pizzas That Changed Crypto History
Hanyecz, an early Bitcoin miner, posted on the Bitcointalk forum offering 10,000 BTC for pizza delivery. Jeremy Sturdivant, then 19, accepted the deal, buying two large pizzas for $25 and delivering them to Hanyecz. At the time, Bitcoin traded below half a cent, making the payment worth roughly $41. Over the years, as Bitcoin’s price skyrocketed, the value of that transaction soared: to $10,000 in 2011 when Bitcoin reached parity with the U.S. dollar; to $2.4 million by 2015; and to $690 million during Bitcoin’s 2021 all-time high of $68,990. With today’s price of $110,663, the 10,000 BTC are worth over $1.1 billion.
“It Made Bitcoin Real”
“It wasn’t like bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool,” Hanyecz told CBS in 2019. “It made bitcoin real.” He never regretted spending the coins, as the transaction proved that Bitcoin could be used for real-world commerce. The story became a cultural touchstone, highlighting both the risk and reward of early adoption.
Bitcoin Pizza Day: A Celebration and a Cautionary Tale
Every year on May 22, enthusiasts around the world buy pizzas with Bitcoin to commemorate the milestone. Exchanges and merchants often run promotions. Yet the transaction also serves as a cautionary tale: had Hanyecz held his 10,000 BTC, he would be worth over a billion dollars today. Instead, his leftovers lasted a day, while his Bitcoin became a legendary symbol of innovation and volatility. As the crypto community celebrates the 15th anniversary, Bitcoin Pizza Day remains a blend of celebration and lesson – a reminder of how a $41 pizza order turned into a $1.1 billion textbook in financial evolution.