Bitcoin Pizza Day: The $1.1 billion meal that started it all

Bitcoin Pizza Day, celebrated every year on May 22, marks the first time Bitcoin was used to buy a physical good. On this day in 2010, Laszlo Hanyecz, a Florida-based programmer, paid 10,000 BTC for two large Papa John’s pizzas worth about $40 at the time. He didn’t order them directly; instead, he posted on the Bitcoin Talk forum offering the coins, and another user accepted the deal and ordered the pizzas for him. That transaction is now legendary in crypto circles because those 10,000 BTC would be worth over $1.1 billion today.

Bitcoin Pizza Day, celebrated annually on May 22, marks the first instance of Bitcoin being used to purchase a physical good. On this day in 2010, a Florida-based programmer, Laszlo Hanyecz, traded 10,000 BTC for two large Papa John's pizzas, which at the time had a value of about $41.

The programmer didn't order the pizzas directly; rather, he posted on the Bitcoin Talk forum offering the coins, and another user accepted the deal and ordered the pizzas for him. The transaction is now legendary in crypto circles because those 10,000 BTC would be worth over $1.1 billion today.

The purchase wasn't instant; it took four days for someone to agree to the trade, which showcases just how new and uncertain Bitcoin was back then.

"I'm buying two large pizzas from Papa John's with cheese and pepperoni for 10,000 BTC. I'll pay the Bitcoin to someone who will buy the pizzas and bring them to my house.

The pizzas will be delivered to my house at [address] in Mount Pleasant, Florida, at around 18:00 today.

I have Bitcoin ready to pay someone, and I can pay the fairest rate for the Bitcoin to be paid in the transaction.

If anyone is interested in making this trade, please email me at [email protected]

I'll add the total to the Bitcoin recipient's account at [Bitcoin address], and the recipient can confirm the final total in my email inbox.

Thanks,

Laszlo"

Despite the astronomical value those coins hold today, Hanyecz has famously said he doesn't regret it. He was just excited to prove Bitcoin had real-world utility. In fact, he went on to buy even more pizza using Bitcoin in the following months, reportedly spending over 100,000 BTC total on cheesy pies.

Today, Bitcoin Pizza Day is a global celebration in the crypto world. Enthusiasts commemorate it with memes, tweets, pizza parties, and sometimes by actually paying for pizza in Bitcoin. It's a funny, bittersweet reminder of how far the technology has come — and how valuable patience (or hodling) can be.

Bitcoin just smashed through a historic milestone, reaching a new all-time high of $111,544 on May 21 and yes, fittingly, it happened a day before Bitcoin Pizza Day.

The world's largest cryptocurrency is now valued at over $2.2 trillion, with more than $76 billion in trading volume in the last 24 hours alone, signaling a surge in both retail and institutional interest.

In the last year, Bitcoin has climbed nearly 58%, and it's up more than 25% in just the past month. This latest price pop reflects a broader crypto market rally fueled by increased mainstream adoption, rising geopolitical tensions, and anticipation around the next Bitcoin halving. The coin's circulating supply now stands at over 19.86 million BTC, edging closer to its capped maximum of 21 million.