On the 15th anniversary of this legendary moment, we look back at one of the most defining stories in Bitcoin’s history: Paying for pizza with Cryptocurrency: Laszlo Hanyecz and the 10,000 Bitcoin Pizza Purchase.
Of course, it didn’t seem like a defining moment in history back then, but with a few years of hindsight, we’re able to see Bitcoin’s rise from obscurity to financial powerhouse.
On May 22, 2010, Hanyecz made a very strange trade. He traded 10,000 BTC (valued at approximately $40) for two extravagantly topped pizzas. At the time, Bitcoin was barely a blip on the radar of anyone outside the tech world. But in the years that followed, as Pizza Hut and other large chains were neither willing nor able to accept that delicious digital currency, its value climbed. By this past October, with Bitcoin riding high at an all-time high of $111,724, those very same two pizzas would have been worth what you might expect an entire Pizza Hut franchise to yield in sales for several years: $1.1 billion.
The tale of Bitcoin Pizza Day started on a forum dedicated to Bitcoin, where a man by the name of Laszlo Hanyecz offered a veritable fortune in then low-to-no-value Bitcoin for a couple of pizzas. In a strange exchange of money for necessary nourishment, Hanyecz’s 10,000 BTC would today be worth hundreds of millions of dollars. But back in 2010, his Bitcoin was worth even less than a regular pizza.
Hanyecz had a straightforward objective. In 2010, he wanted to demonstrate that you could use Bitcoin for a transaction in the physical world (as opposed to its being a currency that existed only online). Today, we know that the successful trade between Hanyecz and a Florida pizza delivery man marked the first time someone used Bitcoin to procure a real, tangible product.
A once-strange story has turned into a crucial chapter in finance’s annals. Every year, the digital age’s oldest currency is honored on May 22—recognized and acknowledged by a grateful public as “Bitcoin Pizza Day.”
The price trajectory of Bitcoin can only be called extraordinary in hindsight. When Hanyecz placed his pizza order, the stated worth of one BTC was $0.004. That makes the order’s BTC value, 10,000, amount to just $40. Fast-forward 15 years, and each Bitcoin is now worth $111,724.
Here’s a snapshot of Bitcoin’s cost on each Pizza Day since 2010:
The story of Bitcoin’s exponential growth isn’t just one of price skyrocketing. It’s about how it changed from being a fringe project to something that’s globally traded, and not just by a few weirdos but by institutions, individuals, and yes, even governments. These days, you can hardly swing a cat in the financial world without hitting a Bitcoin. And when you do, it’s not just recognized as a currency but also as a store of value, and folks often liken it to something called ‘digital gold.’
Although it’s tempting to find humor in the concept of billion-dollar pizzas, Bitcoin Pizza Day has grown into something far larger than its origins. It is now a cultural moment in the world of crypto. Each year, devotees—both in person and online—observe the occasion by ordering pizza, telling stories, and using the moment as a springboard to discuss the much larger story of decentralized finance.
Celebrating Bitcoin’s 15th Anniversary This year, the celebrations carry extra significance. Not only does 2025 mark the 15th anniversary of the transaction, but it also coincides with Bitcoin’s highest price in history. For many, it feels like a symbolic moment: a reaffirmation of the cryptocurrency’s long-term value proposition and resilience.
Bitcoin Pizza Day isn’t just about history; it’s about what’s coming next. As the ecosystem continues to advance around us, with new technologies like layer-2 scaling, cross-chain platforms, and even institutional adoption, the transaction that started it all serves as a reminder of how far Bitcoin has come and of the almost limitless possibilities that lie ahead.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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