Every year on May 22, the global cryptocurrency community comes together to celebrate Bitcoin Pizza Day. This event marks the anniversary of the first documented purchase of a physical item using Bitcoin. It serves as both a fun tradition and a powerful reminder of Bitcoin’s early days and its extraordinary journey since.
What Is Bitcoin Pizza Day?
Bitcoin Pizza Day commemorates a transaction made on May 22, 2010. On that day, a programmer named Laszlo Hanyecz successfully traded 10,000 Bitcoins for two pizzas from a local Florida pizzeria. At the time, those Bitcoins were worth approximately $41.
This exchange was groundbreaking. It demonstrated that Bitcoin could be used as a medium of exchange for real-world goods, moving beyond theoretical or digital-only usage. The event has since become a symbolic milestone, celebrated annually by crypto enthusiasts around the world.
How the Infamous Transaction Took Place
Laszlo Hanyecz was an early Bitcoin miner and supporter. He posted on the Bitcointalk forum, asking if anyone would be willing to accept 10,000 BTC in exchange for two delivered pizzas. A user named Jeremy Sturdivant, then 19 years old, took him up on the offer and ordered the pizzas for him from a local Papa John’s.
This transaction was not just about pizza—it was a proof of concept. It validated that peer-to-peer digital cash could facilitate real purchases, laying early groundwork for the future of cryptocurrency transactions.
Celebrating Bitcoin Pizza Day Around the World
The crypto community celebrates this day with enthusiasm each year. Enthusiasts share pizza parties, social media posts, and community events to honor this historic moment.
For example, in 2023, a group of Bitcoin supporters in Bali, Indonesia, gathered to enjoy pizza and share their celebration online. Major cryptocurrency exchanges also joined in. Binance hosted a pizza event in Naples, Italy, while OKX employees shared photos of their special pizza lunch.
These gatherings are more than just fun—they strengthen community bonds and educate newcomers about cryptocurrency history.
The Stunning Value of Those 10,000 Bitcoins Today
At the time of the original transaction, 10,000 BTC were worth around $41. As of 2023, that same amount of Bitcoin was valued at approximately $268 million, or about 37 billion Japanese yen.
This staggering appreciation illustrates both the volatility and the potential of Bitcoin as a store of value. It also serves as a popular talking point about the importance of holding assets long-term—and sometimes, the cost of spending them too soon.
The Other Side of the Trade: What Happened to Jeremy Sturdivant?
While Laszlo Hanyecz is often centered in the story, the role of Jeremy Sturdivant—the pizza buyer—is also crucial. Some in the community have called him the “true hero” of the story for facilitating this landmark trade.
There has been much speculation about what happened to the 10,000 BTC he received. Some believe he may have sold them after the price increased five or tenfold. Others speculate that the private keys might have been lost. To this day, the exact details remain a mystery, adding a layer of intrigue to the legend.
Was the Pizza Transaction Really the First?
While the pizza purchase is widely recognized as the first commercial Bitcoin transaction, there have been hints of earlier attempts.
In May 2023, for instance, reports surfaced that someone may have tried to sell a digital image for 500 BTC several months before Bitcoin Pizza Day. Some even suggested that Satoshi Nakamoto, Bitcoin’s creator, might have been involved in that discussion.
These accounts suggest that the history of Bitcoin’s use as a medium of exchange may be even richer than commonly known.
👉 Explore more about Bitcoin’s historic milestones
Frequently Asked Questions
What is Bitcoin Pizza Day?
Bitcoin Pizza Day is an annual celebration held on May 22 to mark the first known purchase of a physical item with Bitcoin. In 2010, Laszlo Hanyecz bought two pizzas for 10,000 BTC.
How much are the 10,000 Bitcoins from the pizza transaction worth today?
As of 2023, 10,000 BTC were worth approximately $268 million. The value fluctuates based on Bitcoin’s market price.
Who was Jeremy Sturdivant?
Jeremy Sturdivant was the individual who accepted 10,000 BTC in exchange for ordering two pizzas for Laszlo Hanyecz. His role was essential in completing the first documented real-world Bitcoin transaction.
Is Bitcoin Pizza Day only about pizza?
No, it symbolizes the first step toward Bitcoin’s acceptance as a viable currency for everyday transactions. It’s both a cultural event and an educational moment for the crypto community.
Could there have been an earlier Bitcoin transaction?
There is some speculation about earlier attempts to trade Bitcoin for goods, including a digital image sold months before the pizza purchase. However, the pizza transaction remains the first fully documented example.
Why is this day important for crypto users?
It highlights Bitcoin’s evolution from a niche digital experiment to a globally recognized asset. The day encourages community engagement and reflects on how much has changed in over a decade.
Conclusion
Bitcoin Pizza Day is more than a quirky story—it’s a foundational event in cryptocurrency history. It reminds us of Bitcoin’s humble beginnings and its transformative potential. Each year, the celebration brings together old and new community members, offering a moment to reflect, learn, and look forward to the future of digital currency.
Whether you're a seasoned investor or new to crypto, Bitcoin Pizza Day is a perfect opportunity to appreciate how far the technology has come—and to enjoy a slice of pizza while you're at it.