May 22nd marks a legendary day in cryptocurrency history — the first real-world Bitcoin transaction. This year, it coincides with Bitcoin reaching a stunning new all-time high (ATH) price of $111,861.22, linking an iconic moment from crypto’s early days with its record-breaking present.
Fifteen years ago, on May 22, 2010, Laszlo Hanyecz, a Florida-based programmer, made history by buying two pizzas for 10,000 bitcoins, marking the first time Bitcoin was used to purchase a physical good.
Trading Pizza for Bitcoin: The Moment Crypto Went Real
In 2010, cryptocurrency was still in its infancy. There was no infrastructure to facilitate buying or selling goods and services with Bitcoin. Using the pioneering crypto to purchase something was essentially a form of barter.
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Laszlo Hanyecz posted on a Bitcoin forum, offering 10,000 bitcoins for two pizzas. “You can make the pizza yourself and bring it to my house, or order it from a delivery place. What I want is food delivered in exchange for bitcoins, without me having to order or prepare it myself,” he explained.
Shortly after, Jeremy Sturdivant from the United Kingdom accepted the offer. He ordered two Domino’s pizzas, paid $25, and had them delivered to Hanyecz – all in exchange for 10,000 bitcoins.
The deal was done. The 19-year-old from the UK received 10,000 bitcoins, which at that time were worth about $41 on exchanges, each bitcoin valued at roughly $0.004.
“I just happened to take a visible step as a part of the whole community’s growing trust in bitcoin, it didn’t feel unique in the sense that if I hadn’t accepted that offer, someone else surely would have… but at the same time I was certainly somewhat aware that this was setting a precedent for casual trade with bitcoin,” Sturdivant later reflected.
He didn’t hold on to the bitcoins, though. Jeremy reinvested all 10,000 bitcoins back into the market, selling them soon after for ten times their value, around $400.
280 Million Times More Expensive
Since those early days and the first real-world bitcoin purchase, the value of the leading cryptocurrency and the entire crypto market have changed dramatically.
It is bittersweet that the two pizzas Laszlo Hanyecz bought for 10,000 bitcoins in May 2010 would have been worth $10,000 just nine months later.
Today, with Bitcoin recently hitting a new all-time high of $111,861.22, those same 10,000 bitcoins would be worth a staggering $1.12 billion, or over 280 million times their 2010 value – enough to buy a top-tier luxury cruise ship rivaling the world’s most opulent vessels.
“Somebody had to start it all,” Laszlo said when asked if he regrets not holding onto those bitcoins even a little longer.
“I am poor now,” he later wrote on his social media. But despite never becoming a crypto millionaire, Laszlo Hanyecz secured his place in history.
Why This Matters
Bitcoin Pizza Day continues to be a widely recognized event within the crypto community, with many exchanges and projects hosting giveaways, virtual hangouts, and meetups to celebrate the first real-world Bitcoin transaction.
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