The origin of “Bitcoin Pizza Day” on May 22 can be traced back to a landmark transaction in 2010. This event not only became a milestone in Bitcoin history but also shaped the cultural traditions of the cryptocurrency community. Here are its core background and significance:
1. Historical background: The first physical Bitcoin transaction
On May 18, 2010, Laszlo Hanyecz, a programmer from Florida, posted on the BitcoinTalk forum proposing to exchange 10,000 Bitcoins for two pizzas. Initially, no one responded until May 22, when a 19-year-old user, Jeremy Sturdivant (online name Jercos), answered the request and completed the transaction using two Papa John's pizza vouchers. This was the first time Bitcoin was used to purchase a physical product, and the transaction was recorded at block height 57043.
2. Significance of the transaction and subsequent developments
- Initial value assigned to Bitcoin: This transaction was the first to price Bitcoin, with the value of the pizzas at that time being around $25, making the value of 1 Bitcoin approximately $0.0025, breaking the skepticism of Bitcoin having “no real use.”
- The birth of the “most expensive pizza in history”: As Bitcoin prices skyrocketed, calculating based on a projected price of around $110,000 in 2025, the value of these two pizzas has exceeded $1.1 billion, becoming one of the most legendary anecdotes in the cryptocurrency field.
- The impact of a technological pioneer: Laszlo was not only the initiator of the transaction but also a **pioneer of GPU mining**. He utilized graphics cards to enhance mining efficiency, obtaining thousands of Bitcoins daily, laying the foundation for the early development of Bitcoin's network computing power.
3. Commemoration of Pizza Day and community culture
- Establishment of the holiday: After 2010, the cryptocurrency community designated May 22 as “Bitcoin Pizza Day” to commemorate this breakthrough event and to promote the practical value of Bitcoin.
- Global celebration activities: Every year on this day, exchanges (such as Binance, Gate.io, Coinstore, etc.) launch themed activities, such as trading rewards, charity donations, or NFT releases. In 2025, Coinstore's “No Pizza, No Peace” campaign combined charity by donating pizzas to vulnerable groups, showcasing the benevolent potential of blockchain technology.
- Cultural symbol: Pizza Day is not only a review of history but also symbolizes the “grassroots spirit” and innovative practices of cryptocurrency, inspiring the community to explore decentralized technology applications.
4. The protagonist's subsequent story
- Laszlo's attitude: Despite “missing out” on a fortune, Laszlo stated that he does not regret it; he believes this transaction promoted the practical application of Bitcoin and continues to participate in technical experiments (like purchasing pizzas again via the Lightning Network in 2018).
- Jeremy's experience: Jeremy sold his Bitcoin for about $400 a year later, realizing a tenfold profit, but still felt “regretful” compared to subsequent price increases. He later became a cryptocurrency enthusiast and continued to participate in community activities.
Summary
The core significance of Bitcoin Pizza Day lies in its evolution from an ordinary geek experiment to the starting point of cryptocurrency's integration into the real economy, reflecting the power of technological innovation and community consensus. Today, this holiday not only echoes history but also serves as an opportunity for the industry to look to the future, continuously promoting the popularization and value exploration of blockchain technology.