The Billion Dollar Bitcoin Pizza Lore

Written by Talia SmithDate May 20, 2025

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Fifteen years later, Laszlo’s 10,000 BTC pizza order isn’t a cautionary tale—it’s one of crypto’s most beloved stories.

On May 22, 2010, a programmer named Laszlo Hanyecz did something unthinkable for the time: he bought two pizzas with Bitcoin. 10,000 BTC, to be exact. At today's price of over $105,000 per Bitcoin, that meal would be worth $1 billion.

Bitcoin Pizza Day has become one of crypto’s most iconic holidays—not because it’s funny (though it is), but because it was the first proof that Bitcoin could be used as money. Not just mined, hoarded, or theorized about—but actually spent.

It’s the day Bitcoin jumped from the message board to the real world.

What It Proved

Before Pizza Day, Bitcoin was mostly an experiment in digital scarcity. After Pizza Day, it was something else: a currency. A peer-to-peer network that could settle value between strangers for actual goods. It made Bitcoin real.

In hindsight, Laszlo didn’t lose 10,000 BTC. He gave the world its first crypto receipt. A timestamped, blockchain-verified, $1 billion handshake between two people willing to bet that magic internet money could become something more.

Why It Still Resonates

In a space full of overblown headlines and overnight riches, Pizza Day is the rare moment that grounds Bitcoin in something humble. No charts. No ETFs. Just two pizzas, an internet forum, and a guy trying to get dinner.

It’s a reminder of what Bitcoin was always meant to be: not a speculative vehicle, but a tool for real-world use. And while that future still isn’t evenly distributed, it’s closer now than ever.

The Culture That Grew From It

Bitcoin Pizza Day has become more than an inside joke—it’s a cultural milestone. People throw pizza parties, pay with Lightning, and tell the story to newcomers who inevitably ask, “Wait, he paid how much?”

It’s a ritual that marks time in Bitcoin: how far we’ve come, and how much further we still have to go.

Still the First (and Most Important) Real World Transaction

Fifteen years later, the spirit of that transaction lives on in every attempt to make Bitcoin usable. Tap-to-pay wallets. Lightning terminals. Merchants accepting BTC without needing a PhD. It’s all trying to recapture that moment: money, moving simply, without a middleman.

That’s why Pizza Day matters. Not because of the price, but because of what it symbolized–adoption.