The people's voice of reason
The people's voice of reason
Bitcoin Pizza Day marks one of the earliest and most important moments in cryptocurrency history: the first time Bitcoin was used to buy a physical good. On May 22, 2010, a man spent 10,000 Bitcoins on two pizzas — an amount worth about $41 dollars at the time.
What makes this story so widely known today is how much those Bitcoins would be worth now. Due to the massive rise in the price of Bitcoin since then, that simple purchase has come to represent both the rapid growth of digital currency and the unpredictable nature of new technology. To understand why people still talk about it every year, SoFi looked back at how it all started.
Key Points
Bitcoin Pizza Day is an annual celebration of the first commercial transaction using Bitcoin. On May 22, 2010, a Florida man effectively purchased two large Papa John’s pizzas with 10,000 Bitcoins. At the time, those 10,000 coins were equivalent to $41. Today, they are worth millions, making it widely considered the most expensive pizza purchase in history.
May 22 matters because it demonstrated, for the first time, that Bitcoin could function as more than just a theoretical or digital asset — it could be used as a real medium of exchange. Before this event, Bitcoin existed primarily among developers and early adopters who were experimenting with its potential.
The pizza transaction on May 22, 2010, provided a clear, relatable example of how cryptocurrency could be used in everyday life, even if the long-term implications weren’t fully understood at the time.
Bitcoin Pizza Day started with a seemingly off-handed post on the forum Bitcointalk.org. A programmer named Laszlo Hanyecz posted that he would pay 10,000 bitcoins to anyone who’d be willing to make or order two pizzas for him and have them delivered to his home.
Some posters were skeptical. One pointed out that it seemed like an expensive trade, since Hanyecz could sell his 10,000 coins for $41 in cash. When other forum commenters asked why he’d be willing to use his coins this way, Hanyecz said, “I just think it would be interesting if I could say that I paid for a pizza in Bitcoins.”
However, a fellow forum user named Jeremy Sturdivant, then 19, accepted the offer, ordered two pizzas from Papa John’s, and had them delivered to Hanyecz. In exchange, Hanyecz made a manual transfer of 10,000 BTC to Sturdivant.
It sounds simple now, but at the time, this was groundbreaking. Prior to Pizza Day, there were only a few exchanges where you could buy crypto, no specialized crypto payment processors, and Bitcoin’s price was determined mostly through informal agreements among users. Everything was experimental.
The May 22 pizza purchase represented that Bitcoin could be used as a medium of exchange outside of the traditional banking system. It showed that:
Perhaps the most shocking part of the Bitcoin Pizza Day story isn’t the purchase itself but what those 10,000 Bitcoins would be worth today. As of April 17, 2026, one Bitcoin was trading at $76,800.05. This means that the 10,000 Bitcoins could be sold for $768 million.
Bitcoin’s price has experienced massive growth (along with extreme volatility) since 2010, going from a fraction of a cent to tens of thousands of dollars per coin at its peak. This means the value of the 10,000 BTC used for pizza has skyrocketed into the millions — even hundreds of millions — depending on the market at any given time.
The dramatic increase highlights both the potential and the unpredictability of cryptocurrency.
What Bitcoin Was Worth in 2010
In 2010, Bitcoin was essentially in its infancy, having launched only a year earlier. At the time of the pizza purchase, 1 BTC was worth less than $0.01, making the 10,000 BTC transaction equal to about $41.
Following the historic “Pizza Day,” Bitcoin was listed on exchanges at incredibly low prices (fractions of a cent) before hitting the $1 mark in early 2011. Since that milestone, its valuation has fluctuated wildly, setting numerous records and surging past $122,000 by July 2025.
As of April 17, one Bitcoin is trading at $76,800.05. This means that the 10,000 Bitcoins could be sold for $768 million.
Bitcoin’s price changes constantly due to market volatility. A number of factors impact Bitcoin’s price, including:
Unlike fiat (traditional) currencies, Bitcoin isn’t controlled by any government or central bank, which makes its prices more sensitive to market behavior. This is why the value of those 10,000 Bitcoins isn’t fixed — it changes in real-time, 24/7, based on what buyers are willing to pay.
Bitcoin Pizza Day is celebrated in a variety of ways, most notably by eating pizza to mark this milestone in cryptocurrency history. Fans often share photos of themselves on social media enjoying a slice using the hashtag #BitcoinPizzaDay.
The community also gathers in crypto forums and on Reddit to discuss the day’s history and the evolution of digital currency. Many take a moment to jokingly lament that Jeremy Sturdivant didn’t “HODL” (hold) his coins; he sold them for around $400, missing his chance to see those Bitcoins turn into millions over time.
Many cryptocurrency companies and businesses participate by offering discounts on pizza when paying in crypto, limited-time promotions or giveaways, or special online events. Some pizza chains and food delivery platforms even join in, using the story as an opportunity to connect with tech-savvy audiences.
The day is also a time for charitable giving. Some nonprofits run fundraising campaigns encouraging gifts equivalent to the original 10,000 Bitcoin transaction, sometimes raising hundreds of thousands of dollars for their causes.
Bitcoin Pizza Day is more than just a date on a calendar. It’s the first example of real-world adoption of digital currency as a legitimate means of payment.
In Bitcoin’s case, a simple pizza order became the tipping point for what had previously been viewed as a niche experiment. While it may seem trivial that a pizza delivery could spark a global digital currency movement, Bitcoin Pizza Day illustrates how emerging technologies build acceptance and trust over time.
The rise of new innovations often follows a four-part progression:
Bitcoin is widely recognized as a revolutionary technology. Originally intended as an upgrade to earlier digital currencies, Bitcoin is now the foundation of the cryptocurrency industry.
Bitcoin demonstrated that blockchain and decentralization are effective tools for global currency movement. Blockchain technology has since expanded beyond Bitcoin to support decentralized finance (DeFi), nonfungible tokens (NFTs), global money transfers, and corporate trade finance. The widespread adoption of blockchain by major companies and financial institutions highlights the massive impact of Nakamoto’s original concept.
The Role of Community in Bitcoin’s Growth
While Bitcoin’s rise is often associated with the legendary “Bitcoin Pizza Day,” its true expansion was powered by early adopters who saw its long-term potential.
Online forums and digital communities have been — and remain — essential in building the trust necessary for global adoption. By demystifying Bitcoin and other types of cryptocurrency, these communities have led the charge in educating the public. Ultimately, Bitcoin culture is defined by its dedication to innovation, financial empowerment, and autonomy from traditional banking systems.
Bitcoin Pizza Day stands as a landmark event because it proved that cryptocurrency could function as a tangible medium of exchange. Bitcoin’s growth can be attributed at least in part to one person’s curiosity about whether it would be possible to use digital currency to buy a snack in the real world.
While Bitcoin’s history and potential for rapid price increases are exciting, the danger of losing money is equally real. It’s important for anyone entering the market to be cautious and fully understand the risks associated with cryptocurrencies before making a move.
Did someone really pay 10,000 Bitcoins for pizza?
Yes, someone really did pay 10,000 Bitcoins for two pizzas. On May 22, 2010, programmer Laszlo Hanyecz offered 10,000 BTC on an online forum for anyone who would order and deliver two large pizzas to him. A fellow user accepted the offer, marking the first recorded commercial transaction using Bitcoin for a physical good. At the time, the coins were worth about $41. Today, that amount of Bitcoin would be worth millions of dollars.
What day is Bitcoin Pizza Day?
Bitcoin Pizza Day is celebrated every year on May 22. This date marks the anniversary of the first documented commercial transaction using Bitcoin, which occurred on May 22, 2010. On that day, Laszlo Hanyecz spent 10,000 Bitcoins (worth about $41 at the time) to buy two Papa John’s pizzas. The day is recognized globally as a major milestone in cryptocurrency history, demonstrating Bitcoin’s potential as a real medium of exchange.
How much was 1 Bitcoin worth on Pizza Day?
At the time of the transaction on May 22, 2010, 1 Bitcoin was worth significantly less than a penny (less than $0.01). The total value of the 10,000 Bitcoins spent on the two pizzas was only about $41.
What happened to the guy who paid 10,000 Bitcoin for pizza?
Laslzo Hanyecz, who paid 10,000 Bitcoins for two pizzas on May 22, 2010, reportedly spent close to 100,000 Bitcoins paying for pizza and other purchases throughout 2010. In interviews since then, he has said he doesn’t regret using his coins to buy pizza. Hanyecz no longer gives interviews so it’s unclear if he still owns any Bitcoin or other cryptocurrencies.
This story was produced by SoFi and reviewed and distributed by Stacker.
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