Bitcoin Pizza Day: When 10,000 BTC Bought Dinner
Nov 17, 2025・5 min read
Some crypto investors dedicate themselves to developing “diamond hands” and holding (or HODLing) their Bitcoin (BTC) through thick and thin. But it’s often hard to be a HODLer. Crypto’s price volatility can easily shake someone’s conviction, whether there’s a temptation to sell at highs or a fear of sharp declines.
Of the many unfortunate trades in early crypto history, transferring 10,000 BTC for some pizza probably takes the cake (or perhaps the pie). He might have enjoyed a tasty dinner in 2010, but Laszlo Hanyecz’s Wikipedia page now serves as an eternal reminder of this billion-dollar decision.
Bitcoin Pizza Day isn’t all bad news. Quite the contrary: BTC pizza day proved that peer-to-peer (P2P) transactions work in the real world, marking a critical step in cryptocurrency’s evolution.
Bitcoin Pizza Day: What happened on May 22, 2010?
Bitcoin Pizza Day is a holiday that commemorates the first recorded real-world purchase made with Bitcoin: 10,000 BTC for two pizzas. Although this legendary transaction took place on May 22, 2010, the story started on May 18, when Florida-based programmer Laszlo Hanyecz offered 10,000 BTC for pizza on a Bitcointalk forum thread. In Hanyecz’s post, he said he wanted, "... food delivered in exchange for bitcoins where I don't have to order or prepare it myself."
In the days that followed, a few forum members expressed interest in helping Hanyecz, but many were outside of the United States and weren’t sure how the transaction would work. On May 21, Hanyecz said his 10,000 BTC price might have been "too low," and he explained that he thought "it would be interesting if I could say that I paid for a pizza in bitcoins."
One day later, Hanyecz confirmed that he successfully received two Papa John’s pizzas from a user named "jercos" – the alias of Jeremy Sturdivant, a 19-year-old tech enthusiast. Hanyecz and Sturdivant used the protocol Internet Relay Chat (IRC) to send and receive the BTC.
Why does Bitcoin Pizza Day matter?
Laszlo Hanyecz's quest to exchange cryptocurrency for cheese pizzas demonstrated Bitcoin’s practical utility to the world. But beyond proving Bitcoin’s real-world application, Bitcoin Pizza Day endures as a milestone in cryptocurrency’s history.
Historical marker
Thanks to its high profile on the Bitcointalk forum, Bitcoin Pizza Day serves as a clear inflection point in cryptocurrency’s evolution. Many now view Bitcoin Pizza Day as a key moment in Bitcoin’s transition from a niche technology to a legitimate financial asset. The event also serves as a benchmark for measuring Bitcoin’s progress, adoption, and mainstream acceptance.
Proof of concept
As the first recorded Bitcoin transaction for a real-world item, this event brought cryptocurrency out of the theoretical realm and into something practicable. Papa John’s didn’t (and still doesn’t) accept BTC directly, but the purchase helped legitimize the Bitcoin blockchain as a viable P2P payment system.
Perception of Bitcoin’s value
Looking back at Hanyecz’s Bitcoin pizza purchase, it’s striking how much BTC’s price has grown since 2010. A few years later, headlines talked about the “million-dollar pizza,” but those 10,000 BTC are now worth over $1 billion. The exponential rise in Bitcoin’s value since Pizza Day underscores its potential as a long-term investment, further boosting its reputation as a strong store of value.
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How much was 1 BTC worth on Pizza Day?
Back in 2010, Laszlo Hanyecz paid $41 for his pizza, which means each coin was only worth about $0.0041. Compare that to the end of 2024, when Bitcoin broke through $100,000 per coin – and the value of Laszlo Hanyecz’s two pizzas skyrocketed past $1 billion.
Ironically, one of the commenters on the original Bitcointalk thread wrote to Hanyecz saying, "10,000... Thats [sic] quite a bit.. you could sell those on https://www.bitcoinmarket.com/ for $41USD right now.”
How to celebrate Bitcoin Pizza Day
There’s no standard protocol for celebrating Bitcoin Pizza Day, but there are a few ways crypto enthusiasts can make the occasion festive.
Recreate the pizza story
Hosting a pizza party is the obvious way to celebrate Bitcoin Pizza Day. While no one in their right mind would trade 10,000 BTC for a few pizzas today, people can recreate the historic event by buying two Papa John’s pizzas (ideally with cryptocurrency). Bonus points for anyone who orders Laszlo Hanyecz’s original topping preferences, which included “onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc... just standard stuff no weird fish topping or anything like that.”
Pay with Bitcoin
For anyone who isn’t in the mood for pizza, it’s still possible to celebrate the spirit of Bitcoin Pizza Day by purchasing a good or service with BTC. Few companies accept Bitcoin directly, but there are less direct ways to use BTC on items online or in-store. Many fintech apps like PayPal have crypto payment portals that can instantly convert Bitcoin into fiat. Some centralized exchanges (CEXs), like Coinbase, also offer debit cards that link to a user’s crypto account for a convenient way to spend digital assets.
Regardless of the method, trading BTC for a good or service aligns with the spirit of Bitcoin Pizza Day.
Host an educational event
Bitcoin Pizza Day is a fantastic opportunity to host educational events and teach people about P2P currencies. Consider sharing knowledge and tips on crypto wallets, Web3 security, and new possibilities on Bitcoin, like Ordinals and the Lightning Network, with a group of friends or in a formal class setting.
What are Laszlo Hanyecz’s current thoughts on this day?
Considering Bitcoin’s 2,400,000%+ gain between 2010 and 2025, it’d be understandable if Hanyecz was a bit despondent about his purchase. Despite this massive loss, there’s no indication he’s distraught about his situation, and in many interviews, he’s said he has no regrets.
Is this pizza the most expensive Bitcoin purchase?
While Laszlo Hanyecz’s Papa John’s pizzas are one of the most famous Bitcoin purchases, they aren’t the most valuable BTC transaction in USD. The Dominick, a luxury condo complex in New York City, accepted 25,500 BTC for a one-bedroom property in 2013. At the time, this 25,500 BTC was already worth a hefty price ($2 million), but it’s now worth $2.5 billion due to Bitcoin’s price appreciation.
Streamline your crypto tax process with CoinTracker
Whether you plan to HODL, trade, or spend your Bitcoin, you’ll have to pay taxes on most transactions. To stay compliant with changing tax rules, it’s essential to keep a detailed record of your crypto transactions so you can properly fill out all the necessary tax forms. With CoinTracker, you won’t have to worry about gathering and calculating this information manually. Our Portfolio Tracker links to hundreds of exchange APIs and public wallet addresses to record all of your crypto activities and import them into compliant forms.
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Disclaimer: This post is informational only and is not intended as tax advice. For tax advice, please consult a tax professional.