I. The Origin of the Story: The First Real Transaction with Bitcoin
On May 22, 2010, programmer "Laszlo Hanyecz" from Florida posted what seemed to be an ordinary message on a Bitcoin forum: "I want to exchange 10,000 Bitcoins for two large pizzas." This request initially went unnoticed and was even mocked. Four days later, 19-year-old student "Jeremy Sturdivant (online name Jercos)" ordered pizzas for $25 using a credit card and received 10,000 Bitcoins transferred by Laszlo. This transaction not only allowed Laszlo to eat pizza but also became a milestone in Bitcoin history as the first time cryptocurrency was used to purchase a physical product, later referred to as the beginning of "Bitcoin Pizza Day."
At that time, Bitcoin was almost worthless, with 10,000 Bitcoins equivalent to about 30-41 cents. However, as Bitcoin's price skyrocketed, the value of these two pizzas surpassed $100,000 in 2024 and reached an astonishing $110,000 in 2025 (calculated at a Bitcoin price of $110,000), humorously dubbed the "most expensive pizza in history."
II. The Twists and Significance Behind the Transaction
Laszlo's attempt was not smooth sailing. He waited four days on the forum, during which he was questioned by netizens about "why not use a credit card," and even mocked with comments like "Bitcoin can't even buy a cup of coffee." Ultimately, Jeremy's appearance allowed the transaction to be completed. After the success, Laszlo excitedly shared a photo of the pizza and remarked that this was Bitcoin's "first actual transaction."
The significance of this event far exceeds the transaction itself:
1. Bestowing Value on Bitcoin: Although earlier pricing on exchanges occurred in 2009 (e.g., Sirius Exchange's $0.0001/coin), the pizza incident gained widespread attention due to its story and symbolic significance, marking the "awakening of Bitcoin's value."
2. Promoting Technological Validation: Laszlo's original intention was to prove Bitcoin's practicality. He later stated, "If I don't try, someone else will." This transaction provided an early template for the payment function of cryptocurrencies.
3. The Foundation of Community Culture: Every year on May 22, crypto enthusiasts worldwide celebrate this holiday by eating pizza and organizing events, even leading to books, merchandise, and other cultural symbols.
III. The Fate of the Protagonists: Missing Wealth but Achieving History
Laszlo Hanyecz: The Calmness of a Technological Pioneer
Laszlo is one of the early developers of Bitcoin and the first practitioner of "GPU mining technology." He could earn thousands of Bitcoins daily by mining with graphics cards, spending a total of about 100,000 Bitcoins on pizzas (estimated at about $10 billion at current value). Despite being teased for "eating away a fortune," he has always stated he doesn't regret it: "The success of Bitcoin is more important than my personal gains or losses." In 2018, he bought pizza again with Bitcoin, spending only 0.00649 Bitcoins to test the efficiency of the Lightning Network.
Jeremy Sturdivant: The Open-Mindedness of an Early "Cash-Out"
Jeremy sold his Bitcoins for $400 shortly after the transaction, making about tenfold profit. He admitted, "This money supported my travel and gaming expenses." Even though Bitcoin's price later soared, he remained optimistic: "Being part of history is meaningful enough."
IV. Legendary Insights: The Interweaving of Chance and Necessity
1. Faith in Technology and Unintentional Outcomes
Laszlo's actions stemmed from a passion for technology, not speculation. He developed GPU mining programs and promoted transaction validation, laying the foundation for the Bitcoin ecosystem. As he said: "Bitcoin needs to be used, not hoarded."
2. The Choices of the Era
The rise of Bitcoin is inseparable from the experimental spirit of the early community. The success of the pizza incident contains inevitability within its chance—without such practices, Bitcoin might have remained a toy for geeks.
3. The Dialectic of Wealth and Value
Some people lamented Laszlo's "missed opportunity," while others collapsed due to failed speculation (like the young Bonerz who committed suicide after selling his Bitcoins). But the stories of Laszlo and Jeremy remind us: wealth is a gift of the times, while the spirit of exploration is the force that drives history.
V. Conclusion: The Spirit of Pizza Day Heritage
From 2010 to 2025, Bitcoin grew from a geek toy to a trillion-dollar asset, while Pizza Day has always been a spiritual totem for the crypto community. It symbolizes not only price but also the exploration of the unknown, faith in technology, and the open-mindedness of "life is greater than Bitcoin." As Laszlo said: "We cannot predict the future, but we can choose to participate in creating it."
Don't forget to eat pizza!
If you are a Bitcoin holder, why not order a pizza on May 22 every year to pay tribute to Laszlo and his courage!