Commemorating the 15th Anniversary of a Landmark Moment in Bitcoin’s Journey: The 10,000 Bitcoin Pizza Purchase by Laszlo Hanyecz
What seemed like an odd transaction at the time has become a pivotal story in Bitcoin’s evolution from obscurity to a significant financial entity.
On May 22, 2010, Laszlo Hanyecz executed a curious trade, exchanging 10,000 BTC (approximately worth $40 at that time) for two large pizzas. During that period, Bitcoin was hardly on the radar for anyone outside the tech community. However, as major chains like Pizza Hut were reluctant to accept cryptocurrency, Bitcoin’s value began to soar. By October of this year, with Bitcoin reaching an unprecedented peak of $111,724, those two pizzas would have been valued akin to the revenue of an entire Pizza Hut franchise over several years: a staggering $1.1 billion.
A Simple Transaction That Altered History
The origin of Bitcoin Pizza Day took place on a forum dedicated to the cryptocurrency, where Laszlo Hanyecz offered an enormous sum of then virtually worthless Bitcoin for a couple of pizzas. In this unusual exchange of currency for food, the 10,000 BTC would now represent hundreds of millions of dollars. Yet in 2010, his Bitcoin was valued even lower than a standard pizza.
Hanyecz’s intention was straightforward. He aimed to prove that Bitcoin could facilitate transactions in the real world, beyond its online existence. Today, that successful delivery to a Florida pizza man stands as the first instance of Bitcoin being used to buy a tangible product.
What began as an odd tale has transformed into a significant chapter in financial history. Each year, the oldest digital currency is celebrated on May 22, fondly known as “Bitcoin Pizza Day.”
From Pennies to a Major Player
Looking back, Bitcoin’s price trajectory has been nothing short of remarkable. When Hanyecz placed his order, one BTC was valued at just $0.004, making the total value of his pizza purchase around $40. Fast forward 15 years, and each Bitcoin now holds a value of $111,724.
Here’s an overview of Bitcoin’s price on each Pizza Day since 2010:
- 2010 — $0.004
- 2011 — $6.12
- 2012 — $5.10
- 2013 — $123
- 2014 — $523
- 2015 — $241
- 2016 — $439
- 2017 — $2,109
- 2018 — $8,355
- 2019 — $7,958
- 2020 — $9,060
- 2021 — $37,340
- 2022 — $29,492
- 2023 — $26,774
- 2024 — $70,190
- 2025 — $111,724
The narrative of Bitcoin’s remarkable growth is not just about soaring prices; it marks a shift from a niche project to a globally traded asset, embraced by institutions, individuals, and even governments. Today, Bitcoin occupies a central role in financial discussions and is frequently referred to as ‘digital gold’.
More Than a Meme: A Cultural Landmark
While it may be amusing to think of billion-dollar pizzas, Bitcoin Pizza Day has evolved into a significant cultural event within the cryptocurrency realm. Each year, enthusiasts celebrate by ordering pizza, sharing stories, and using the occasion to discuss the broader narrative of decentralized finance.
This year’s celebrations hold particular significance. Not only does 2025 mark the 15th anniversary of this iconic transaction, but it also aligns with Bitcoin reaching its all-time high. For many, it becomes a symbolic moment that reaffirms the enduring value and resilience of the cryptocurrency.
Bitcoin Pizza Day is more than a historical reference; it symbolizes what lies ahead. As advancements continue in the ecosystem, such as layer-2 scaling and cross-chain platforms, the inaugural transaction remains a reminder of Bitcoin’s incredible journey and the vast potential that still exists.