The Bitcoin Pizza Day Story: How 10,000 BTC Changed Everything

On May 22, 2010, a seemingly ordinary transaction between two bitcointalk forum users would forever cement a moment in cryptocurrency’s historical record. This groundbreaking event—now celebrated annually as bitcoin pizza day—marked the first real-world commercial exchange using Bitcoin, transforming a digital experiment into a tangible payment system. What began as a simple hunger-driven post would evolve into one of cryptocurrency’s most iconic milestones, reminding enthusiasts and newcomers alike of Bitcoin’s revolutionary potential.

The Transaction That Started It All

In Bitcoin’s early days, when most people dismissed the nascent digital currency as a theoretical novelty, Laszlo Hanyecz faced a more immediate concern: hunger. With virtually no merchants accepting Bitcoin, he turned to the bitcointalk forum with an audacious proposal: “I’ll exchange 10,000 bitcoins for a couple of pizzas… maybe two large ones, so I’ll have some leftovers for tomorrow.”

The request might have gone unnoticed, but Jeremy Sturdivant responded with remarkable pragmatism. He ordered two large pizzas from a local Papa John’s, paying approximately $25 out of pocket. Hanyecz then transferred 10,000 BTC to complete the exchange—a transaction that cost him just $41 worth of Bitcoin at the time.

The pizzas arrived with an array of toppings: onions, peppers, sausage, mushrooms, tomatoes, and pepperoni. Hanyecz had been explicit about his preferences, requesting no fish and suggesting plain cheese as a cost-saving alternative. What he received was far more valuable than the meal itself—he had just participated in cryptocurrency’s first documented real-world purchase, proving that Bitcoin could function as a medium of exchange outside of theoretical discussions.

Jeremy’s Choice: Using Bitcoin for Adventure

Unlike many who would later regret spending early Bitcoin, Jeremy Sturdivant took a different path. He liquidated the entire 10,000 BTC, converting it into fiat currency to fund extensive world travel. In interviews, Sturdivant acknowledged that he simply didn’t comprehend Bitcoin’s future trajectory. Had he recognized it as an investment vehicle, his story might have been entirely different. Yet he harbors no regret, taking pride instead in his role as a facilitator of cryptocurrency history.

Laszlo Hanyecz shared a similar philosophical outlook. Estimates suggest he spent approximately 100,000 BTC on pizza during Bitcoin’s early years. Had he held all those coins, their contemporary value would exceed $6.6 billion. Like Jeremy, however, Hanyecz views his expenditure not as a missed opportunity, but as a meaningful contribution to Bitcoin’s adoption narrative.

The Price of History: Then vs Now

The numerical contrast between 2010 and 2026 illustrates Bitcoin’s extraordinary trajectory. When Hanyecz completed his pizza purchase, Bitcoin traded at approximately $0.004 per unit. His 10,000 BTC represented a trivial $41 transaction.

Fast forward to February 2026: the same 10,000 BTC would be worth approximately $663 million at current market rates of $66.32K per Bitcoin. This staggering appreciation—from a $41 pizza purchase to a potential fortune exceeding half a billion dollars—captures the essence of cryptocurrency’s transformation from an obscure academic concept to a globally recognized asset class.

Yet this price appreciation pales in comparison to Bitcoin’s broader cultural significance. The transaction demonstrated something far more valuable than individual wealth: it proved that a decentralized, peer-to-peer currency system could function in practice, free from traditional banking infrastructure.

Keeping Bitcoin Pizza Day Alive

Bitcoin pizza day has evolved into more than nostalgic remembrance. It represents a yearly opportunity to reflect on cryptocurrency’s journey and to actively promote its real-world adoption. The celebration takes multiple forms across the community.

Embrace merchant adoption: The landscape has transformed dramatically since 2010. Platforms like BitPay have simplified cryptocurrency payments for merchants, and numerous pizzerias now accept Bitcoin and other digital currencies. Supporting these merchants directly continues the legacy that Hanyecz and Sturdivant initiated.

Educational engagement: Bitcoin pizza day serves as an accessible entry point for newcomers curious about cryptocurrency. The story humanizes Bitcoin, transforming it from abstract cryptography into a narrative about hunger, community, and technological possibility.

Philanthropic contribution: Many use the occasion to donate Bitcoin to charitable organizations that have embraced cryptocurrency. This extends the spirit of the original transaction—using Bitcoin as a tool for real-world value transfer—toward causes aligned with individual values.

Community celebration: Whether through pizza-themed social media campaigns, blockchain meetups, or simply purchasing pizza with cryptocurrency, the community reinforces Bitcoin pizza day’s significance annually on May 22.

The Lasting Significance

Bitcoin pizza day commemorates far more than a historical novelty. It captures a specific moment when cryptocurrency transitioned from theory to practice, when someone could actually use digital money to acquire physical goods. The event underscores Bitcoin’s fundamental purpose: enabling value transfer without intermediaries.

As adoption has accelerated and merchant infrastructure has matured, the irony becomes profound. The $41 transaction that seemed extraordinary in 2010 now appears quaint—yet it established the precedent upon which billions of dollars in contemporary cryptocurrency commerce rests.

For Laszlo Hanyecz, Jeremy Sturdivant, and the broader Bitcoin community, pizza day remains an annual reminder that Bitcoin’s true value extends beyond price appreciation. It lies in the possibility of financial systems that operate outside traditional hierarchies, transactions that occur peer-to-peer without banking gatekeepers, and a future where “have you tried paying with Bitcoin?” becomes as mundane as asking whether a restaurant accepts credit cards.