$BTC
The Pizza That Cost $600 Million
Let’s travel back to May 22, 2010. A programmer in Florida named Laszlo Hanyecz was hungry. But this time, he didn’t want to pay in dollars—he wanted to use Bitcoin.
He posted an offer on a Bitcoin forum: “I’ll pay 10,000 BTC for two pizzas.” Someone in the UK accepted the challenge, called a Papa John’s near Laszlo, placed the order, and the deal was done.
Two large pizzas, paid with 10,000 Bitcoins. At the time, those coins were worth about $41. Today, they would be valued at over $600 million.
This story might sound absurd, but it was historic. It marked the first real-world transaction using Bitcoin. Up until then, Bitcoin was mostly a theoretical experiment. This pizza order proved that digital money could buy tangible goods.
Why was this moment so important?
Because it answered the question: “Can Bitcoin be used as real money?” Laszlo’s transaction showed that the answer was yes. From that point forward, Bitcoin wasn’t just code—it was a functioning currency.
Over time, May 22nd became known as Bitcoin Pizza Day, celebrated annually by crypto enthusiasts as a reminder of humble beginnings—and how far the network has come.
But there’s another side to this story: the psychology of value.
In 2010, people saw Bitcoin as fun, experimental, maybe even disposable. Giving away 10,000 BTC for food didn’t seem outrageous—it seemed generous. Today, that number feels astronomical.
It teaches an important lesson: the value of Bitcoin is shaped by belief and adoption. As more people saw Bitcoin as valuable, its market price soared. What once bought dinner now buys mansions.
Laszlo never regretted the purchase. “I wanted to make Bitcoin useful,” he said years later. And he did. That pizza became Bitcoin’s first proof of utility—and the foundation for everything that followed. More...
