The Origin of Bitcoin Pizza Day
Every year on May 22, cryptocurrency enthusiasts around the world celebrate Bitcoin Pizza Day—a lighthearted yet historically significant holiday commemorating the first real-world transaction using Bitcoin. On this day in 2010, a programmer in Florida made headlines by spending 10,000 BTC on two large pizzas. At the time, the transaction was barely worth $40. But today, that same amount of Bitcoin is valued at nearly **$400 million**, even after recent market corrections.
This legendary trade not only marked a pivotal moment in digital currency history but also turned an ordinary meal into the most expensive pizza purchase ever recorded. While the story is often shared as a cautionary tale about missed fortunes, the real people behind the transaction have more nuanced feelings—blending nostalgia, pride, and yes, a little regret.
👉 Discover how early crypto decisions shape financial futures today.
The Trade That Changed Everything
On May 18, 2010, Laszlo Hanyecz, a software developer from Florida, posted a message on the Bitcointalk forum: he wanted to buy two large pizzas using 10,000 Bitcoin. He offered to pay anyone who could order delivery-style or homemade pizzas and send them to his address.
Back then, Bitcoin had no established market value. Few people believed it would ever become mainstream. So while the idea seemed quirky, it wasn’t entirely out of place in a community experimenting with decentralized money.
Four days later—on May 22—Jeremy Sturdivant, a 19-year-old from California known online as jercos, accepted the challenge. He ordered two Papa John’s pizzas and had them delivered to Hanyecz. In return, he received 10,000 BTC.
Hanyecz posted online:
“Just to report, I successfully traded 10,000 bitcoins for pizza. Thanks jercos!”
That single post became one of the most iconic moments in crypto history.
What Happened to the 10,000 Bitcoins?
Many assume Jeremy Sturdivant must be living on a private island by now. After all, if he’d held onto those coins, he’d be worth hundreds of millions. But reality paints a different picture.
Shortly after receiving the Bitcoin, Sturdivant sold them all—for a small profit as prices began to rise. He and his girlfriend used the money for a spontaneous trip. No long-term investment strategy, no vision of future wealth—just a fun experience in the moment.
Looking back today, Sturdivant admits there's some regret.
“Yeah, not keeping the Bitcoin is definitely a regret,” he said in a recent interview. “But at the time, I was just focused on making the transaction happen. I didn’t know where Bitcoin was headed.”
He emphasizes that Bitcoin was still an obscure concept back then—used mostly by tech hobbyists and cryptography enthusiasts. There was no infrastructure, no exchanges, and certainly no public awareness.
Still, he feels proud.
“I can’t say Bitcoin’s success is because of me—but I’m proud to have played a part in turning it from an experimental idea into a global phenomenon.”
👉 See how small crypto moves today can lead to big outcomes tomorrow.
The Other Side: Laszlo Hanyecz’s Perspective
While Sturdivant sent the pizzas, Laszlo Hanyecz was the one who spent the coins—and many wonder if he regrets it more.
Surprisingly, he doesn’t.
In a 2019 interview with Bitcoin Magazine, Hanyecz said:
“For me, it was free pizza. I mined thousands of Bitcoin every day back then. Ten thousand didn’t mean much.”
As one of the earliest GPU miners, Hanyecz contributed significantly to Bitcoin’s network security during its infancy. He even developed open-source tools that allowed others to mine using their graphics cards—helping expand the decentralized mining community.
He views the pizza purchase not as a loss, but as proof that Bitcoin could be used for real transactions.
“I think it was great that I could be part of Bitcoin’s early story. Maybe someone else would’ve done it eventually—but I’m glad it happened through me.”
Why This Moment Matters in Crypto History
The 2010 pizza transaction wasn’t just a novelty—it was the first documented use of Bitcoin for physical goods. Before that, Bitcoin had only been transferred between users or used in technical tests. This event proved its potential as actual currency.
It demonstrated three crucial things:
- Bitcoin could facilitate real-world commerce
- Value is subjective and evolves over time
- Early adopters shaped adoption through action, not speculation
Even though both parties cashed out early, their roles remain foundational in the narrative of decentralized finance.
Today, "Bitcoin Pizza Day" is celebrated globally—with exchanges offering themed promotions, developers sharing throwback posts, and memes flooding social media. Some restaurants even offer “Bitcoin discounts” on May 22.
But beyond the fun, it serves as a reminder: innovation often begins with small, seemingly insignificant acts.
Frequently Asked Questions (FAQ)
Q: How much were 10,000 Bitcoins worth when used for pizza?
A: In May 2010, 10,000 BTC was worth approximately $40—based on early exchange estimates. The pizzas themselves cost around $25, with the rest covering transaction logistics.
Q: Did Jeremy Sturdivant become rich from the Bitcoin he received?
A: No. He sold all 10,000 BTC shortly after receiving them. While he made a modest profit at the time, he did not hold them long enough to benefit from their exponential growth.
Q: Does Laszlo Hanyecz still mine Bitcoin?
A: While Hanyecz is no longer actively mining at scale, he remains involved in cryptocurrency development and open-source projects related to blockchain technology.
Q: Is Bitcoin Pizza Day officially recognized?
A: It’s not a legal or public holiday, but it’s widely celebrated within the crypto community as a symbolic milestone marking the first real-world use of Bitcoin.
Q: Could such a transaction happen today?
A: Technically yes—but practically unlikely. With current values and widespread adoption, spending thousands of dollars on a single item via cryptocurrency draws attention and scrutiny. However, microtransactions using crypto for everyday purchases are becoming more common.
Q: Are there any lessons from the Bitcoin pizza story?
A: Absolutely. It highlights the importance of understanding emerging technologies early, thinking long-term about digital assets, and recognizing that value isn’t always immediate—it can grow exponentially over time.
👉 Learn how to start building your own crypto journey with smart strategies.
Final Thoughts: Legacy Over Loss
Eleven years later, neither Laszlo Hanyecz nor Jeremy Sturdivant became billionaires from that famous transaction. Yet both hold something arguably more valuable—an enduring place in financial history.
Their story isn’t just about missed opportunities; it’s about being pioneers in a movement that redefined money. They weren’t investors trying to get rich—they were believers testing an idea.
And in doing so, they helped prove that Bitcoin wasn’t just code—it was currency.
As Bitcoin continues to evolve—through bull runs, regulatory shifts, and institutional adoption—the tale of two pizzas reminds us that every revolution starts somewhere small.
Even if it begins with dinner.
Core Keywords: Bitcoin Pizza Day, 10000 Bitcoin, Laszlo Hanyecz, Jeremy Sturdivant, first Bitcoin transaction, Bitcoin history, crypto adoption, early Bitcoin use