The Bitcoin Pizza Purchase That Haunts the Crypto Community

failed_dev_successful_ape · 2026-01-04T16:57:22+00:00

Laszlo Hanyecz's 2010 purchase of two pizzas for 10,000 BTC marked the first real-world Bitcoin transaction, valued at about $25. By 2026, that Bitcoin amounted to approximately $913 million, highlighting Bitcoin's dramatic rise and the lesson of opportunity costs. May 22 is now celebrated as Bitcoin Pizza Day, reflecting on this significant moment in cryptocurrency history.

failed_dev_successful_ape

2026-01-04 16:57:22

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When Laszlo Hanyecz posted his unusual request on a Bitcoin forum in 2010, he had no idea he would become a legend in the cryptocurrency world—for what some might call the most expensive lunch decision ever made.

A Deal That Seemed Reasonable at the Time

Back in May 2010, Laszlo offered 10,000 BTC for two Papa John’s pizzas to be delivered to his home in Florida. At that moment, his offer valued Bitcoin at roughly $25 for the entire transaction. Within hours, someone took him up on the deal, ordered the pizzas, and Laszlo completed the transfer using an early Bitcoin wallet. The transaction went through smoothly—he got his pizza, and the buyer got 10,000 BTC.

It seemed like a fair trade at the time. Pizza was pizza, and Bitcoin was just an experimental digital currency with uncertain prospects.

The Painful Reality of Today’s Markets

Fast forward to 2026, and the math becomes devastating. With Bitcoin trading around $91,300 (up 1.26% on the day), those 10,000 BTC would be worth approximately $913 million today.

That’s roughly 36 million times what Laszlo paid for those pizzas.

Why May 22 Became a Day of Reflection

The cryptocurrency community adopted May 22 as Bitcoin Pizza Day—officially marking the first documented real-world commercial transaction using Bitcoin. It’s celebrated as a milestone showing how Bitcoin evolved from theoretical internet money to an actual medium of exchange.

Yet the holiday carries an undercurrent of dark humor and philosophical tension. For Laszlo, it serves as an annual reminder of opportunity cost. For the broader community, it represents a sobering lesson about volatility and the long-term value of early adoption.

The Bigger Picture

Laszlo’s transaction did something crucial: it proved Bitcoin wasn’t just code and cryptography—it was a functional currency that could facilitate real commerce. In that sense, his pizza purchase was historically significant, even if financially devastating.

Whether Laszlo has forgiven himself for the transaction remains unknown. But one thing is certain: his name will forever be synonymous with Bitcoin’s journey from $25 per 10,000 coins to over $91,000 in value.

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