Every year on May 22nd, cryptocurrency enthusiasts around the world celebrate Bitcoin Pizza Day—a lighthearted yet historically significant event that marks the first known real-world transaction using Bitcoin. On this day in 2010, programmer Laszlo Hanyecz made headlines by spending 10,000 BTC on two large Papa Johns pizzas. At the time, the transaction was worth about $41. Today, that same amount of Bitcoin would be worth hundreds of millions—if not over a billion—dollars. This moment wasn’t just a quirky internet anecdote; it was the dawn of Bitcoin as a usable currency.
The Origins of Bitcoin and Early Adoption
Bitcoin first emerged in 2009 as a groundbreaking digital currency built on decentralized blockchain technology. Its value was initially theoretical—more of a tech experiment than a financial asset. The first recorded exchange rate came in October 2009: 1 USD = 1,309 BTC, establishing a baseline for future trading.
By March 2010, the landscape began to shift with the launch of BitcoinMarket.com, the world’s first cryptocurrency exchange. Created by early adopter "dwdollar" on the Bitcointalk forum—where even Satoshi Nakamoto once posted—the platform enabled users to trade Bitcoin for U.S. dollars via PayPal. This milestone introduced liquidity and price discovery to the nascent crypto market, laying the foundation for modern exchanges.
However, BitcoinMarket faced operational challenges, particularly due to its reliance on PayPal, which eventually terminated support. The platform shut down in mid-2011, but its legacy lived on: it proved that Bitcoin could have real-world value and be exchanged outside mining circles.
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The Infamous 10,000 BTC Pizza Offer
On May 18, 2010, Laszlo Hanyecz posted on Bitcointalk with a now-legendary message:
"I'll pay 10,000 bitcoins for a couple of pizzas… like maybe 2 large ones so I have some left over for the next day."
He described his ideal toppings—onions, peppers, sausage, mushrooms—and clarified he wanted delivery-style convenience, not homemade. At the time, Bitcoin had no established purchasing power, and most users saw it as a novelty. So when Laszlo offered such a large amount, it was more about testing functionality than making a financial sacrifice.
Four days later, on May 22, 2010, a then-19-year-old developer named Jeremy Sturdivant (known online as “jercos”) accepted the offer. He used traditional fiat money to order two Papa Johns pizzas and had them delivered to Laszlo in Florida. In return, Laszlo sent him 10,001 BTC, including a 1 BTC transaction fee to miners.
This transaction—recorded permanently on the blockchain at hash a1075db5...—became the first documented use of Bitcoin to purchase physical goods.
Jeremy Sturdivant: The Forgotten Recipient
While much of the narrative focuses on Laszlo’s “loss,” Jeremy’s role is equally fascinating. He didn’t hold onto the Bitcoin. Like many early adopters, he viewed it as experimental currency rather than long-term investment. There was no concept of “hodling” back then.
Jeremy reportedly spent his BTC on video games and travel before Bitcoin gained mainstream attention. In later interviews, he expressed no regret—after all, $41 worth of pizza in 2010 was already a fair deal from his perspective.
His story highlights an important truth: early crypto adoption was driven by curiosity and experimentation, not speculation. The idea that Bitcoin could one day be worth millions per coin was beyond imagination.
Laszlo Hanyecz: Pioneer of Practical Crypto Use
Laszlo Hanyecz wasn’t just any user—he was a core contributor to early Bitcoin development. One of the first thousand miners, he played a key role in advancing GPU mining, creating software that allowed graphics cards to mine Bitcoin far more efficiently than CPUs. This innovation accelerated network growth and set the stage for future scalability.
Despite spending 10,000 BTC, Laszlo has never expressed regret. In interviews, he emphasized that his transaction proved Bitcoin could function as real money. At the time, miners earned 50 BTC per block, meaning he could recoup his “expense” in just 200 blocks—less than two weeks of mining.
Moreover, Laszlo made history again in 2018 by becoming the first person to buy pizza using the Lightning Network, paying just 0.00649 BTC—a stark contrast to his original purchase.
Why Bitcoin Pizza Day Matters
Bitcoin Pizza Day isn’t just about nostalgia—it symbolizes a turning point:
- It proved Bitcoin could be used for everyday transactions.
- It demonstrated trust in peer-to-peer digital value transfer.
- It marked the transition from abstract code to tangible utility.
Today, major companies like Microsoft, AT&T, and Overstock accept Bitcoin. Countries like El Salvador have adopted it as legal tender. Even Switzerland allows Bitcoin payments for taxes and public services.
This evolution traces back to that simple pizza order—a moment when someone said, “Let’s see if this works.”
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Fun Facts About Bitcoin Pizza Day
- 🍕 The transaction was included in block 57,043, containing only two entries: Laszlo’s payment and the mining reward.
- 💸 The total cost was 10,001 BTC due to a 1 BTC network fee—a luxury few can afford today.
- ⏱️ It took 6 hours from purchase confirmation to pizza delivery and 4 days from post to fulfillment.
- 🔁 Laszlo reused his wallet address over 3,300 times, while Jeremy’s was used only four more times (in 2015, 2017, 2018, and 2020).
- 🌍 In the same year as Bitcoin Pizza Day, Neapolitan pizza was recognized by the EU as a Traditional Speciality Guaranteed—perhaps making 2010 the ultimate year for pizza lovers.
- 🍕 Bonus: World Pizza Day is celebrated on January 17th, but crypto fans know May 22nd is the real pizza holiday.
Frequently Asked Questions
Q: Is Bitcoin Pizza Day celebrated every year?
A: Yes! On May 22nd, communities worldwide host events, giveaways, and educational content to honor the first real-world Bitcoin transaction.
Q: Could someone really spend 10,000 BTC on pizza today?
A: Technically yes—but it would cost hundreds of millions of dollars. Most large transactions today use stablecoins or layered solutions like Lightning Network.
Q: Did Papa Johns receive Bitcoin directly?
A: No. Jeremy paid in U.S. dollars. Papa Johns did not accept Bitcoin in 2010, and still doesn’t widely do so today.
Q: What happened to Laszlo Hanyecz after the transaction?
A: He remained active in the crypto community as a developer and advocate. He continues to support Bitcoin innovation and has repeated his pizza purchase using newer technologies.
Q: How did people react to the transaction at the time?
A: Most saw it as a fun experiment. The idea that Bitcoin would surge in value wasn’t on anyone’s radar in 2010.
Q: Can I view the original transaction?
A: Yes—the blockchain record is public and immutable. You can explore it through any Bitcoin block explorer using the transaction ID.
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The Lasting Legacy of a Simple Meal
Bitcoin Pizza Day reminds us that revolutionary change often starts small. What began as a quirky forum post became a cornerstone moment in financial history. It showed that digital money could buy real things—that trustless systems could facilitate everyday commerce.
More than a decade later, with Bitcoin integrated into global finance and new layers enabling fast, low-cost payments, we’re still building on that foundation.
Laszlo didn’t just buy pizza—he helped prove that Bitcoin could work.
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