On May 22, 2010, a seemingly ordinary online transaction quietly changed the course of financial history. Laszlo Hanyecz, a software developer and early Bitcoin enthusiast, made what is now recognized as the first real-world purchase using Bitcoin—two large Papa John’s pizzas in exchange for 10,000 BTC. At the time, the transaction was worth about $30. Today, that same amount of Bitcoin would be worth over **$600 million**, with some estimates suggesting it could have reached $11 billion at Bitcoin’s all-time highs.
Yet despite the staggering hypothetical value lost, Laszlo has never expressed regret. In fact, he remains one of the most iconic yet humble figures in cryptocurrency history—a man who helped prove Bitcoin’s utility long before the world believed in it.
The First Real-World Bitcoin Transaction
In May 2010, Bitcoin was still an obscure experiment. Few understood its potential, and even fewer saw it as anything more than digital code. That changed when Laszlo, a member of the Bitcoin Talk Forum since April 2010, posted a simple request:
“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.”
What followed was a mix of curiosity, skepticism, and eventually, success. Four days later, on May 22, Laszlo confirmed the deal had gone through. A 19-year-old from California named Jeremy Sturdivant ordered the pizzas and received the 10,000 BTC in return. The transaction was recorded on the blockchain—a permanent mark in crypto history.
This moment marked the birth of Bitcoin Pizza Day, celebrated annually by the crypto community as a tribute to the first practical use of Bitcoin as money.
👉 Discover how early adopters turned digital curiosity into real-world value.
Why It Mattered: Proving Bitcoin’s Utility
Before this transaction, Bitcoin had no real-world purchasing power. It existed as a decentralized ledger with mining rewards and peer-to-peer transfers—but nothing tangible. Laszlo’s pizza purchase proved something revolutionary: Bitcoin could be used to buy goods and services.
This wasn’t just a novelty; it was a milestone. For the first time, Bitcoin demonstrated its function as a medium of exchange—fulfilling one of the core definitions of money. The implications were enormous. If you could buy pizza with Bitcoin, what else could you buy?
Laszlo later explained his motivation:
“To me, it was free pizza. I mined the coins myself, contributed to an open-source project, and got rewarded with food. Usually, hobbies cost money and time—mine paid for dinner.”
His mindset reflected the spirit of early crypto culture: collaboration, experimentation, and fun.
Mining Early, Spending Freely
As a skilled programmer, Laszlo was among the first to optimize GPU mining for Bitcoin—a breakthrough that significantly increased mining efficiency. By mid-2010, he had mined tens of thousands of BTC. Blockchain data shows his wallet balance peaked at over 43,854 BTC in June 2010.
Over time, he spent roughly 100,000 BTC on various purchases—everything from hardware to services—totaling what would now be worth over $4 billion. But at the time, these were small transactions between believers in a nascent technology.
He wasn’t trying to get rich. He was testing the system.
No Regrets: A Philosophy of Participation Over Profit
Despite knowing the astronomical value his early coins could have reached, Laszlo has consistently said he doesn’t regret spending them.
“I wasn’t losing anything,” he said in a 2019 interview with Bitcoin Magazine. “I was using something I created through my own effort to get something I wanted. That’s how money should work.”
His attitude stands in stark contrast to modern crypto narratives focused on wealth accumulation and price speculation. For Laszlo, Bitcoin was—and still is—an open-source hobby, not a get-rich-quick scheme.
He never sought fame. He doesn’t have social media accounts. He never claimed to be Satoshi Nakamoto. And he continues to contribute to Bitcoin development in quiet but meaningful ways—including creating early versions of Bitcoin Core for macOS and advancing GPU mining tools.
“I kind of like staying out of the spotlight,” he said. “I have a normal job. I don’t want Bitcoin to become my responsibility or career. I’m just happy to be part of it.”
The Legacy of the Two Pizzas
Today, those two pizzas are legendary—not for their taste, but for their symbolism.
They represent:
- The moment Bitcoin became usable money
- The power of decentralized innovation
- The importance of real-world adoption
- And the enduring meme culture that fuels crypto communities
Every year on May 22, exchanges, developers, and enthusiasts celebrate Bitcoin Pizza Day with promotions, events, and nostalgic posts. Some even recreate the original order—though few can afford to do it for 10,000 BTC.
But beyond the celebration lies a deeper truth: innovation often begins with small acts of faith. Laszlo didn’t know Bitcoin would explode in value—he just wanted pizza and believed in the project.
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Frequently Asked Questions (FAQ)
What was the first thing ever bought with Bitcoin?
The first real-world purchase made with Bitcoin was two large pizzas ordered by Laszlo Hanyecz on May 22, 2010, in exchange for 10,000 BTC.
How much are the "Bitcoin pizzas" worth today?
At current market values, 10,000 BTC is worth over $600 million**. At Bitcoin’s peak prices in 2021 and 2024, it briefly exceeded **$11 billion.
Did Laszlo Hanyecz regret spending 10,000 BTC on pizza?
No. In multiple interviews, Laszlo has stated he does not regret the transaction. He viewed it as a successful test of Bitcoin’s utility and a reward for his contributions to the open-source project.
Who received the 10,000 BTC for selling the pizza?
A 19-year-old man named Jeremy Sturdivant from California completed the transaction. He used the Bitcoin to fund trips with his girlfriend and later said he didn’t expect such massive appreciation—but also didn’t regret spending it.
Is Laszlo Hanyecz still involved in Bitcoin?
Yes. Though低调 (low-key), Laszlo continues to participate in the Bitcoin community. He contributed key early development work, including GPU mining optimizations and macOS compatibility for Bitcoin Core.
Why is May 22 called Bitcoin Pizza Day?
May 22 is celebrated annually as Bitcoin Pizza Day to commemorate the first documented use of Bitcoin for a real-world purchase—the famous pizza transaction by Laszlo Hanyecz.
Laszlo Hanyecz’s story isn’t about missed fortune—it’s about belief in technology before anyone else did. He helped turn code into currency, one pizza at a time.
And while others chase profits, Laszlo reminds us that sometimes, the greatest reward isn’t wealth—it’s being part of something revolutionary from the very beginning.
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