The Birth of Bitcoin Pizza Day
On May 18, 2010, at 12:35 PM, a programmer named Laszlo Hanyecz made history by posting a curious request on the Bitcoin Talk forum:
"I'll pay 10,000 bitcoins for a couple of pizzas... maybe 2 large ones so I have some left over for the next day."
This seemingly simple post marked the first documented real-world bitcoin transaction. At the time:
- Bitcoin was just 1 year old
- Mining difficulty was extremely low (Laszlo mined thousands using his GPU)
- The entire cryptocurrency concept was unknown to 99% of people
The $11 Billion Pizza Transaction
After 4 days of waiting, Laszlo successfully traded his 10,000 BTC for two pizzas on May 22 – a date now celebrated annually as Bitcoin Pizza Day.
Key facts about this legendary deal:
| Detail | 2010 Value | 2024 Equivalent* |
|---|---|---|
| Bitcoin Price | ~$0.003/BTC | ~$70,000/BTC |
| Pizza Cost | $30 | $700 million |
| Laszlo's Total BTC Spent | ~100,000 BTC | ~$7 billion |
*Approximate values based on all-time high BTC prices
Laszlo's Perspective: No Regrets
Despite the staggering modern valuation, Laszlo maintains zero regrets about his pizza purchase:
"It felt like free dinner to me. Bitcoin was something I mined through my programming hobby, and when that pizza arrived, I genuinely felt like I'd 'won the internet.' My passion literally bought me dinner."
The Ripple Effects
- Proved Bitcoin's utility as a payment method
- Created crypto's most enduring cultural meme
- Inspired thousands of real-world BTC transactions
- Demonstrated early mining accessibility
Where Did the 10,000 BTC Go?
The teenage pizza seller, Jeremy Sturdivant, eventually spent the bitcoin on traveling with his girlfriend. In a 2018 interview, he remarked:
"I never imagined bitcoin would become so valuable. But earning $400 from a $30 pizza order was already a great deal at the time."
Laszlo's Legacy in Crypto
Beyond the pizza story, Laszlo made critical technical contributions:
- Developed GPU mining software (revolutionizing efficiency)
- Created MacOS version of Bitcoin Core
- Helped establish Bitcoin's early developer community
👉 Discover how early crypto adopters changed finance
FAQ: Bitcoin Pizza Day
Q: Could Laszlo have become a billionaire if he kept his BTC?
A: Mathematically yes, but his mining strategy focused on proving Bitcoin's utility rather than accumulation.
Q: How many bitcoins did Laszlo mine total?
A: Blockchain data suggests his wallet once held over 40,000 BTC, but exact totals remain unclear.
Q: Why don't we know Laszlo's current net worth?
A: He maintains extreme privacy, avoiding social media and public disclosure of holdings.
Q: What's the lesson from this story?
A: Technological revolutions create unforeseen opportunities – the true value often lies in participation rather than speculation.
👉 Explore crypto's most fascinating origin stories
The Philosophy Behind the Pizza
Laszlo's approach reflects crypto's idealistic roots:
- Decentralized enthusiasm over profit motives
- Community building through practical use cases
- Open-source collaboration as its own reward
As he told Bitcoin Magazine:
"I have a normal job and never wanted bitcoin to become my career. It's just a hobby that happened to change finance."
This mindset—focusing on innovation rather than accumulation—may be why Laszlo sleeps soundly despite the pizza's legendary cost. His story reminds us that in technology's earliest days, the greatest rewards often come from being part of history rather than attempting to control it.