Bitcoin pizza concept floating coins

On May 22, 2010, Laszlo Hanyecz paid 10,000 bitcoins for two pizzas, creating Bitcoin Pizza Day, a historic milestone in cryptocurrency adoption.

About this subject

Bitcoin Pizza Day is celebrated annually on May 22, recalling the first commercial transaction using bitcoin to purchase a physical good. Programmer Laszlo Hanyecz, in Florida, offered 10,000 BTC on a BitcoinTalk forum for someone to order two large pizzas on his behalf. A user accepted and ordered two pizzas from Papa John's for about $25. At the time, bitcoin was worth pennies, but at current value (roughly $60,000 per BTC in 2023), those pizzas would be worth over $600 million. The transaction is recorded on the blockchain and is often cited as a classic example of bitcoin's volatility and potential. Hanyecz, an early Bitcoin Core developer, used his GPU to mine bitcoins, pioneering GPU mining. The event has spawned a tradition in the crypto community: every year, enthusiasts buy pizzas with bitcoin (or fiat) to celebrate, and memes about the “world’s most expensive pizza” circulate on social media.

Frequently Asked Questions

Who was Laszlo Hanyecz and why did he pay 10,000 bitcoins for pizzas?

Laszlo Hanyecz was an early Bitcoin developer and miner. He offered 10,000 BTC on the BitcoinTalk forum to test using bitcoin as currency for real-world goods, as he wanted pizza and no services accepted the cryptocurrency directly.

What is the current value of the 10,000 bitcoins spent on pizza?

It depends on the price. In 2023, with bitcoin around $60,000, the 10,000 BTC would be worth roughly $600 million. In 2024, with peaks above $70,000, it exceeded $700 million.

Is Bitcoin Pizza Day celebrated by the crypto community? How?

Yes. On May 22, enthusiasts buy pizzas, make symbolic bitcoin transactions, and post memes commemorating the milestone. Some exchanges and companies offer discounts or special promotions.