It happened on a Tuesday. May 22, 2010. Most people were probably worrying about the European debt crisis or listening to whatever was on the radio, completely unaware that a guy in Florida was about to make the most expensive dinner reservation in human history. Every year, crypto nerds and financial historians circle that same date on their calendars. Bitcoin Pizza Day isn't just a meme; it’s the literal birthday of functional cryptocurrency.
Think about it. Before this, Bitcoin was basically play money for cypherpunks. It was digital gold that you couldn't actually spend on anything. Then Laszlo Hanyecz stepped in.
He was a programmer. He liked pizza. He had a lot of Bitcoin because, back then, you could mine hundreds of coins a day on a standard home computer. He posted on the Bitcointalk forum offering 10,000 BTC for a couple of large pizzas. "I like things like onions, peppers, sausage, mushroom, tomatoes, pepperoni, etc. just standard stuff no weird fish topping or anything like that," he wrote. He didn't care if they were homemade or ordered from Papa John's. He just wanted the novelty of paying for real-world calories with internet magic beans.
When is Bitcoin Pizza Day? Mark May 22 on Your Calendar
If you’re looking for the short answer: Bitcoin Pizza Day is celebrated every year on May 22. But the "when" is less about the date and more about the timing in Bitcoin's life cycle. In May 2010, Bitcoin was barely a year old. It had no exchange rate. There was no Coinbase. There was no Robinhood. If you wanted to buy something, you had to find a human being willing to trust that your string of digital code was worth their time.
Jeremy Sturdivant, a 19-year-old student at the time known as "jercos" on the forums, was that human. He took the 10,000 BTC and sent Laszlo two pizzas from Papa John's. At the time, those 10,000 coins were worth about $41. The pizzas cost around $25. Sturdivant made a little profit, Laszlo got his dinner, and the blockchain recorded the first commercial transaction in history.
The math that makes your stomach hurt
Let's do some quick, painful math.
If you look at the price of Bitcoin today—let's say it's hovering around $60,000 or $70,000—those two pizzas are worth somewhere between $600 million and $700 million.
Imagine that.
Seven hundred million dollars for some dough, tomato sauce, and pepperoni. It is arguably the most lopsided trade in the history of the world, beating out the Dutch buying Manhattan for $24 worth of beads. But here’s the thing: Laszlo doesn't regret it. He’s said in multiple interviews over the years that he’s happy to have been a part of history. Without that first trade, Bitcoin might have stayed a theoretical hobby forever. It needed a "proof of concept." It needed a pizza.
Why this specific date matters for the future of finance
We celebrate this because it represents the transition from "idea" to "utility."
Most people get this wrong. They think the story is about a guy being "stupid" for spending his coins. Honestly, that’s a narrow way to look at it. If nobody ever spent Bitcoin, it would have zero value. Currency only works if it moves. By buying those pizzas, Laszlo gave Bitcoin a price floor. He established that 10,000 BTC was worth at least two pizzas.
It’s also a reminder of how fast technology moves. In 2010, the community was tiny. You could fit the entire active user base into a medium-sized high school gym. Today, institutional banks and sovereign nations hold the same asset that was once traded for a side of garlic knots.
The ripple effect of the 10,000 BTC transaction
The 22nd of May has become a global holiday for the industry. Pizza shops from London to Tokyo offer discounts if you pay in crypto. Major exchanges like Binance or Kraken usually hold massive events. It’s a day for the community to look back and realize how far the "magic internet money" has come.
But it’s also a cautionary tale about "HODLing."
- The Laszlo Perspective: He used the tech for its intended purpose.
- The Investor Perspective: He could have owned a private island.
- The Reality: If he hadn't spent it, the price might never have gone up in the first place.
Common misconceptions about the "Pizza Guy"
People love to paint Laszlo Hanyecz as a tragic figure. They imagine him sitting in a dark room, weeping over a cold slice of crust while staring at a price chart.
That’s just not true.
Laszlo was a contributor to the original Bitcoin code. He was the first person to develop a way to mine Bitcoin using a Graphics Processing Unit (GPU) rather than just a Central Processing Unit (CPU). He was a pioneer. He didn't just spend 10,000 BTC once; he actually did it several times that summer, spending perhaps 40,000 BTC in total on various pizzas until the price rose enough that the "deal" wasn't as attractive to others anymore.
He was wealthy in Bitcoin because he was an early adopter who helped build the thing. He wasn't some guy who found a wallet in the trash. He was an architect of the system.
How to celebrate Bitcoin Pizza Day properly
You don't need a hardware wallet or a deep understanding of cryptography to participate. It's basically the most inclusive holiday in tech.
- Eat Pizza. This is the obvious one. Bonus points if you order the "Laszlo Special"—onions, peppers, sausage, mushrooms, pepperoni.
- Pay with Crypto. Many apps now allow you to use Bitcoin at checkout. Even if it's just a tiny fraction of a Satoshi, it honors the spirit of the day.
- Reflect on Scarcity. Bitcoin has a hard cap of 21 million. Laszlo spent nearly 0.05% of the entire future supply on one lunch. It’s a wild lesson in supply and demand.
- Educate a Friend. Tell someone the story. It’s the easiest way to explain what "value" actually means in a digital world.
It’s funny. We spend so much time talking about ETFs, regulatory frameworks, and hash rates. But at its core, this entire trillion-dollar industry started because a guy was hungry and didn't want to cook.
Looking ahead to the next May 22
As we approach the next anniversary, the stakes are higher. We aren't trading 10,000 coins for a pizza anymore. We’re trading 0.0005 coins for a pizza. The scale has shifted, but the fundamental act remains the same.
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The legacy of May 22 isn't about lost riches. It's about the audacity to believe that a line of code could be worth something tangible. Whether Bitcoin goes to a million dollars or back to zero, the story of the pizza will remain the definitive legend of the digital age.
Actionable Next Steps
- Audit your "Pizza Funds": Look at your own spending habits. Are there small purchases you’re making today in a new technology or asset class that might look like "the pizza" ten years from now?
- Secure your assets: If you do hold Bitcoin, make sure it’s in self-custody. Laszlo had control of his keys, which is why he could send them to Jeremy. If your coins are on an exchange, you’re just a guest.
- Set a reminder: Put "Bitcoin Pizza Day" in your calendar for May 22. Use it as an annual check-in on your financial goals and the state of the digital economy.
- Support local: Find a local pizzeria that accepts Lightning Network payments or other crypto options. Supporting the circular economy is the best way to honor Laszlo’s legacy.
The story of the 10,000 BTC pizza is a permanent part of the blockchain. It can't be erased, and it won't be forgotten. It’s the ultimate reminder that in the world of tech, the simplest actions often have the most profound consequences.