Every year on May 22nd, the cryptocurrency community celebrates Bitcoin Pizza Day. This event commemorates one of the most iconic moments in Bitcoin's history—the first documented real-world transaction using Bitcoin. The story involves a programmer, two pizzas, and a price tag that would become legendary.
What Is Bitcoin Pizza Day?
Bitcoin Pizza Day marks the anniversary of the first known commercial transaction using Bitcoin. On May 22, 2010, a Florida-based programmer named Laszlo Hanyecz successfully traded 10,000 bitcoins for two delivered pizzas. This event demonstrated that Bitcoin could be used as a medium of exchange for tangible goods, moving beyond theoretical value into practical utility.
How Did the Transaction Take Place?
The journey began on May 18, 2010, when Laszlo Hanyecz posted a message on the BitcoinTalk forum. He offered 10,000 bitcoins to anyone who would order two large pizzas for him. At the time, Bitcoin had no established market value, and the idea was both experimental and playful.
Another forum user, Jeremy Sturdivant, saw the post and accepted the offer. He arranged for the pizzas to be delivered to Laszlo’s address. On May 22, Laszlo confirmed the successful transaction in a follow-up post, celebrating the milestone.
The original BitcoinTalk thread remains archived, serving as a public record of this historic event. Over the years, the post has garnered thousands of comments from community members reflecting on the growing value of those bitcoins.
Community Reactions Over the Years
- 2010: “Could this be the world’s first million-dollar pizza?”
- 2012: “Those two pizzas are now worth $60,000.”
- 2015: “Bitcoin hit $200—the pizzas are valued at $2 million!”
- 2016: “If he had held the 10,000 bitcoins, he’d be a multimillionaire. But remember: circulation gives Bitcoin its value.”
Why Is Bitcoin Pizza Day Significant?
This transaction was a foundational moment for Bitcoin. It proved that the cryptocurrency could facilitate real-world commerce, validating its function as a decentralized currency. Before the pizza purchase, Bitcoin was largely an experimental digital asset. Afterward, it began its journey toward mainstream recognition.
The event also highlights the evolution of perceived value. What seemed like a fair trade in 2010—10,000 bitcoins for two pizzas—would later be viewed as an astonishingly expensive meal. This irony is central to the celebration, blending humor with historical reflection.
What Was the Value of 10,000 Bitcoins in 2010?
At the time of the transaction, the two pizzas were worth approximately $25. The 10,000 bitcoins used in the trade were valued at around $41 based on early exchange rates. Today, those same bitcoins would be worth tens of millions of dollars, illustrating Bitcoin’s extraordinary appreciation.
What Happened to the 10,000 Bitcoins?
Jeremy Sturdivant, who received the bitcoins, did not hold onto them for long. He sold them when Bitcoin reached $400, netting a significant profit at the time—though minuscule compared to today’s value. Blockchain records show that Jeremy split the bitcoins into two transactions shortly after receiving them: 5,777 BTC to one address and 4,223 BTC to another.
👉 Explore more about blockchain transactions
Was It Papa John’s or Domino’s Pizza?
There has been ongoing speculation about which pizza chain was involved in the historic purchase. Most accounts attribute the order to Papa John’s, but Jeremy Sturdivant has consistently claimed that he delivered Domino’s pizza. Without a preserved receipt, the exact brand remains uncertain. However, Domino’s later embraced cryptocurrency payments, adding credibility to Jeremy’s version of events.
Regardless of the brand, the transaction’s symbolic importance far outweighs this detail. It represents a leap of faith and a community-driven experiment that helped shape the future of digital currency.
Frequently Asked Questions
Why is Bitcoin Pizza Day important?
It commemorates the first real-world Bitcoin transaction, proving the cryptocurrency’s practical use as a medium of exchange. This event helped transition Bitcoin from a theoretical concept to a functional currency.
Could Laszlo have become wealthy if he kept his bitcoins?
Yes. The 10,000 bitcoins used to buy the pizzas would be worth millions today. However, the transaction was essential in demonstrating Bitcoin’s utility, which contributed to its later adoption and value.
How is Bitcoin Pizza Day celebrated?
Enthusiasts worldwide order pizza using cryptocurrency, share memes, and discuss the history and future of Bitcoin. The day serves as both a celebration and a reminder of the volatility and potential of digital assets.
What lessons can we learn from the Bitcoin pizza story?
The story highlights the importance of early adoption, the risks and rewards of innovative technologies, and the role of community in establishing value. It also serves as a cautionary tale about the unpredictability of asset valuation.
Are businesses more accepting of Bitcoin today?
Yes. Major companies across various industries now accept Bitcoin and other cryptocurrencies as payment. This growing acceptance builds on pioneering transactions like the Bitcoin pizza purchase.
How can I view historical Bitcoin transactions?
Blockchain explorers allow users to track and verify transactions on the Bitcoin network. These tools provide transparency and are fundamental to the cryptocurrency’s integrity. 👉 View real-time transaction tools
Bitcoin Pizza Day is more than a quirky anecdote—it’s a symbol of innovation, risk, and the transformative power of technology. While the price of those two pizzas seems absurdly high in retrospect, the transaction played a crucial role in Bitcoin’s journey from obscurity to global recognition.