On May 22, 2010, a seemingly ordinary online transaction changed financial history forever. A programmer in Jacksonville, Florida, named Laszlo Hanyecz posted on a forum:
“I’ll pay 10,000 BTC for a couple of pizzas—like maybe 2 large ones so I have some left over for the next day.”
Three days later, after reposting his offer, someone finally took him up on it. A British man named Jeremy Sturdivant ordered two Papa John’s pizzas and received 10,000 bitcoins in return. At the time, that amounted to about $41. Today, those same coins are worth over **$780 million**, depending on market rates.
This iconic moment is now celebrated annually as Bitcoin Pizza Day—a symbolic milestone marking the first real-world use of cryptocurrency for everyday goods.
The Origins of Bitcoin’s First Real-World Transaction
Before Laszlo’s pizza purchase, bitcoin had no tangible value. Created by the pseudonymous Satoshi Nakamoto in 2009, it was largely an experimental digital currency used only among tech enthusiasts and cryptographers. There were no exchanges, no prices listed in USD, and certainly no restaurants accepting BTC.
Laszlo’s transaction changed that. By attaching a real-world price tag to bitcoin—two pizzas for 10,000 BTC—he gave the world its first practical valuation metric. It wasn’t just code anymore; it was money.
👉 Discover how early adopters turned small investments into life-changing wealth
While some laugh at the idea of spending millions on pizza, others see it as a powerful lesson in innovation, timing, and belief in emerging technology.
Lost Fortunes: When Bitcoin Went Missing
Bitcoin’s rise from pennies to tens of thousands per coin has also created tragic stories of lost wealth.
The Forgotten Wallet
In 2011, San Francisco-based developer Stephen Thomas created one of the earliest educational videos about cryptocurrency. As payment, he received 7,002 bitcoins—a fortune at today’s prices. But he stored them in a digital wallet and forgot the password.
Modern wallets often have recovery phrases, but his didn’t. After eight failed password attempts (out of ten allowed), he’s now frozen out. Two tries left—and all he needs is one correct combination.
He waits for advances in decryption or AI-powered recovery tools that might one day unlock his seven-figure digital vault.
The Hard Drive in the Landfill
Then there’s James Howells from Wales. In 2013, he accidentally threw away a hard drive containing private keys to 8,000 bitcoins—now worth over $620 million.
The problem? The drive ended up in a landfill site holding 1.4 million tons of waste.
For over a decade, Howells has lobbied local authorities to let him excavate the site. Recently, with plans to convert the landfill into a solar farm, he even offered to buy the land outright. His mission? Not just treasure hunting—but proving that digital assets can be as valuable as gold.
These stories highlight a core truth about cryptocurrency: ownership means responsibility. No bank can reset your password. No customer service line will recover your keys.
Skepticism and the Rise of Digital Trust
Despite its success, bitcoin has faced relentless criticism—even from respected economists and tech leaders.
- Bill Gates, co-founder of Microsoft, once called cryptocurrencies “basically worthless.”
- Eugene Fama, Nobel laureate in economics, predicted bitcoin could go to zero within a decade.
Their argument? Unlike stocks or bonds, bitcoin doesn’t generate income. It isn’t backed by physical assets like gold or real estate. So how can it have value?
But bitcoin challenges traditional finance by embodying a new principle: value through consensus.
Even without intrinsic worth, if enough people believe in its utility as a medium of exchange and store of value, it functions as money. This mirrors how fiat currencies like the US dollar work—backed not by gold, but by trust in institutions and widespread adoption.
Bitcoin takes this further: decentralized, borderless, and immune to inflation caused by central bank printing.
As economic instability rises globally, more investors view bitcoin as digital gold—a hedge against uncertainty.
Bitcoin Reaches New Heights on Pizza Day 2025
On May 22, 2025—Bitcoin Pizza Day—the price of one BTC surged past $110,000 for the first time in history.
This milestone wasn't random. Analysts point to several factors:
- Growing institutional adoption
- Spot Bitcoin ETF approvals in major markets
- Halving-induced supply scarcity
- Increasing global recognition as a legitimate asset class
At $110,000 per coin, Laszlo’s 10,000 BTC would be worth **$1.1 billion—enough to buy over 6,000 pizzas priced at $130 each**.
It’s poetic irony: the man mocked for overspending now symbolizes both the risks and rewards of pioneering new financial frontiers.
👉 See how you can start building your own crypto portfolio safely
Why Bitcoin Pizza Day Still Matters
Bitcoin Pizza Day is more than a meme. It represents:
- The birth of crypto commerce
- The power of decentralized value
- The human side of technological revolution
Every year on May 22, communities around the world celebrate with pizza giveaways, NFT drops, and educational events. Some exchanges run special promotions. Others reflect on how far we’ve come—and where we’re headed.
It’s also a reminder: value is subjective. What seemed absurd in 2010—a pizza costing thousands of dollars—now feels like a prophetic investment.
Frequently Asked Questions (FAQ)
Q: What is Bitcoin Pizza Day?
A: Bitcoin Pizza Day is celebrated annually on May 22 to commemorate the first real-world purchase using bitcoin—two pizzas bought for 10,000 BTC in 2010.
Q: Who bought the first bitcoin-powered pizza?
A: Laszlo Hanyecz, a programmer in Florida, offered 10,000 BTC for pizzas online. Jeremy Sturdivant accepted the deal and placed the order.
Q: How much are those 10,000 bitcoins worth today?
A: Depending on current prices, 10,000 BTC could be worth over $780 million to $1.1 billion—making it one of the most expensive meals in history.
Q: Can you still spend bitcoin on pizza today?
A: Yes! Many pizzerias worldwide accept bitcoin directly or through payment processors. Some even offer discounts for crypto payments.
Q: Is bitcoin truly valuable if it’s not backed by physical assets?
A: Its value comes from scarcity (only 21 million will ever exist), security (blockchain technology), and adoption (global demand). Like art or collectibles, value emerges from shared belief and utility.
Q: Could another "lost bitcoin" be recovered someday?
A: Technically possible—but extremely difficult. Advances in quantum computing or AI might one day crack forgotten passwords. Until then, those coins remain frozen in digital oblivion.
The Future of Bitcoin: From Pizzas to Global Currency?
Bitcoin has evolved from a niche experiment to a globally recognized asset. Governments regulate it. Institutions invest in it. Individuals save in it.
Yet its essence remains unchanged: peer-to-peer electronic cash, free from central control.
As we look ahead, questions remain:
- Will bitcoin become legal tender everywhere?
- Can it survive regulatory scrutiny?
- Will more people embrace self-custody and financial sovereignty?
One thing is clear: a $41 pizza transaction sparked a financial revolution.
Whether you're a skeptic or believer, Bitcoin Pizza Day reminds us that innovation often begins with something simple—and delicious.
👉 Learn how to securely store your cryptocurrency and avoid costly mistakes