On May 18, 2010, at 12:35 PM, a user named Laszlo posted a seemingly lighthearted offer on the Bitcoin Talk forum: 10,000 bitcoins for two large pizzas. He specified his preferences—Papa John’s, Domino’s, or Pizza Hut—and even welcomed homemade options. What appeared to be a quirky experiment would soon become a cornerstone moment in cryptocurrency history.
At the time, Bitcoin was less than a year old. The concept of digital currency was still alien to most people, and using it for real-world purchases was uncharted territory. Laszlo’s post didn’t immediately go viral. A few users expressed interest, but logistical hurdles—like international shipping—kept the deal from materializing.
Back then, 10,000 BTC was worth roughly $30. Laszlo briefly worried his offer might be too low, fearing no one would take him seriously. But four days later, on May 22, 2010, he posted a photo of two delicious-looking pizzas with a simple caption: “I love bitcoin.” The transaction had gone through.
That moment marked the first known real-world purchase using Bitcoin—and gave birth to Bitcoin Pizza Day, celebrated annually on May 22.
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Why Did Laszlo Do It?
In a 2019 interview with Bitcoin Magazine, Laszlo explained his motivation:
“I wanted to use Bitcoin to buy pizza because it felt like getting a free dinner. I mined those coins by writing code and contributing to open-source projects. When the pizza arrived, I genuinely felt like I’d won the internet. Usually, hobbies cost time and money—but this time, my passion paid for my meal. My hobby bought me pizza.”
This mindset captures the spirit of early crypto adopters: not investors chasing profits, but technologists and enthusiasts exploring a new frontier for fun and curiosity.
The Rise of GPU Mining and Early Bitcoin Wealth
Laszlo Hanyecz wasn’t just any forum user—he was one of the earliest developers to recognize Bitcoin’s potential. More importantly, he pioneered GPU mining, a breakthrough that drastically increased mining efficiency compared to CPU-based methods.
Because mining was so easy in 2010, Laszlo quickly accumulated tens of thousands of BTC. Blockchain data from OXT shows his wallet balance peaked at 20,962 BTC in May 2010, shortly after the pizza transaction. By June, it reached an all-time high of 43,854 BTC, likely from continued mining activity.
While we can’t confirm if he used multiple wallets, the scale of his holdings suggests he was among the most prominent early miners.
From $30 to Over $1 Billion: The Most Expensive Meal in History
What started as a $30 pizza order has since become legendary—not for its taste, but for its astronomical opportunity cost.
Today, 10,000 BTC is worth well over $1 billion**, making it arguably the most expensive meal in human history. Some estimates place the value closer to **$11 billion, depending on Bitcoin’s price fluctuations.
Yet despite this staggering figure, Laszlo has never expressed regret.
“I don’t lose sleep over it,” he said. “Back then, using GPU power to get free pizza felt like winning. It was fun. It was rewarding.”
His attitude reflects a deeper truth about innovation: early adopters often participate not for financial gain, but for the thrill of being part of something new.
Who Received the Famous 10,000 Bitcoins?
The recipient was Jeremy Sturdivant, a 19-year-old from California who went by “jercos” online. Like Laszlo, Jeremy was an early Bitcoin miner and enthusiast. He used the 10,000 BTC to fund trips with his girlfriend.
In a 2018 interview, Jeremy admitted he never expected Bitcoin to skyrocket in value. But he didn’t regret the trade: “I turned $40 into $400—that’s a 10x return! At the time, that felt like a great deal.”
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A Legacy Beyond the Pizza
While the "Bitcoin pizza" story dominates headlines, Laszlo’s contributions go far beyond a viral meme.
- He developed the MacOS version of Bitcoin Core, expanding accessibility.
- He unlocked GPU mining, accelerating network growth.
- And perhaps most importantly, he gave the crypto community a cultural touchstone—a human moment that reminds us Bitcoin started not as an asset class, but as a shared experiment.
Each year on May 22, enthusiasts around the world celebrate Bitcoin Pizza Day with giveaways, events, and yes—pizza. It’s a lighthearted tradition that honors both the humor and humanity behind decentralized technology.
FAQ: Your Questions About Laszlo and Bitcoin Pizza Day
Q: Is Laszlo Hanyecz rich today?
A: Unknown. He’s never disclosed his current holdings or financial status. Given his early mining activity, it’s possible he still holds significant BTC—but he’s chosen to remain private.
Q: Does Bitcoin Pizza Day have official recognition?
A: While not a legal holiday, it’s widely celebrated across crypto communities, exchanges, and media outlets as a symbolic milestone in digital currency history.
Q: Did Laszlo really only spend 10,000 BTC?
A: No—estimates suggest he spent around 100,000 BTC on everyday purchases between 2010 and 2011. At today’s prices, that exceeds $11 billion in total spending.
Q: Why didn’t he stop spending once Bitcoin started rising?
A: In hindsight, holding would’ve been more profitable. But remember: no one knew Bitcoin would succeed. To early users like Laszlo, it was an experiment—not an investment.
Q: Can I send Laszlo a pizza today?
A: Unlikely—he values privacy and doesn’t maintain public social media accounts. But you can honor his legacy by celebrating Bitcoin Pizza Day with friends and sharing the story.
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Staying Grounded in a Volatile World
Despite his pivotal role in Bitcoin history, Laszlo has stayed remarkably grounded.
“I keep myself a little removed because there’s so much attention,” he admitted. “I don’t want people thinking I’m Satoshi. I just enjoy this as a hobby.”
He continues to work full-time outside the crypto industry and has no plans to turn Bitcoin into a career.
“I don’t want it to become my responsibility or burden. Just being able to contribute this much is enough for me.”
This humility stands in stark contrast to today’s celebrity crypto figures. Laszlo represents a purer era—when passion drove participation, not profit.
Final Thoughts: More Than Just a Pizza Story
The tale of Laszlo Hanyecz is more than a cautionary tale about missed fortunes. It’s a celebration of curiosity, experimentation, and community.
His willingness to spend Bitcoin on something as ordinary as pizza proved its utility as real money—not just digital gold. That single act helped transform Bitcoin from code into culture.
So next time you hear about “the man who bought pizza with 10,000 BTC,” remember: he didn’t lose $11 billion. He gained something rarer—a place in history, a global tradition, and the quiet satisfaction of knowing his hobby changed the world.
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