In 2010, a simple pizza order made history—literally. On May 22nd of that year, Laszlo Hanyecz, a programmer from Florida, made what is now famously known as the first real-world purchase using Bitcoin: two large Papa John’s pizzas. He paid 10,000 BTC for them.
At the time, Bitcoin had no established market value—each coin was worth mere cents. Today? That same amount of Bitcoin is worth over $100 million. Yet, despite the jaw-dropping opportunity cost, Laszlo says he doesn’t regret it. Not even close.
This story isn’t just about an expensive meal—it’s about innovation, vision, and the early days of a digital revolution. Let’s dive into why this transaction mattered, how Bitcoin has evolved, and why Laszlo remains proud of his role in crypto history.
The First Real-World Bitcoin Transaction
On May 22, 2010, Laszlo posted on the Bitcoin Talk forum:
“I’d like to offer 10,000 BTC to buy a couple of pizzas… like maybe 2 large ones so I can have a few slices left over for the next day.”
He wasn’t looking to make history—he just wanted dinner without cooking. Another user, known online as Jercos, accepted the offer, ordered the pizzas using traditional payment, and received 10,000 BTC in return.
This moment marked the first time Bitcoin was used to purchase physical goods—a milestone that gave tangible value to a then-theoretical currency.
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Since then, May 22 has been celebrated across the cryptocurrency community as Bitcoin Pizza Day, a lighthearted but meaningful tribute to the moment Bitcoin stepped out of code and into the real world.
From Pennies to Millions: The Rise of Bitcoin
Back in 2010, 1 BTC was valued at approximately $0.03**. That means Laszlo’s two-pizza purchase had a nominal value of around **$36.
Fast forward to 2025: Bitcoin regularly trades above $11,000**, with previous peaks surpassing $20,000. At current valuations, those 10,000 bitcoins would be worth well over $100 million**.
For many, this sounds like the ultimate "what if" story. But context matters.
At the time, Bitcoin was an experimental project with no guarantees. There were no exchanges, no wallets, and certainly no mainstream adoption. Spending BTC on something real—like food—was a radical act of faith in its future utility.
Laszlo didn’t just spend Bitcoin; he proved it could be spent.
A Follow-Up Purchase: Proving Progress
In February 2025, Laszlo made headlines again—this time for buying two more pizzas, but under very different circumstances.
Using the Lightning Network, a second-layer protocol built on top of Bitcoin to enable faster and cheaper transactions, he paid just 0.00649 BTC (around $62) for the meal.
The contrast couldn’t be starker:
- 2010: 10,000 BTC for two pizzas via direct blockchain transaction.
- 2025: 0.00649 BTC via Lightning Network—over 1.5 million times more efficient.
This wasn’t just nostalgia—it was a demonstration. Laszlo wanted to show that Bitcoin can scale for everyday use when paired with innovative technologies.
He even shared photos of his family enjoying the meal: one child wearing a shirt that said “I Love Pizza,” the other in “I Love Bitcoin.” A perfect symbol of how far we’ve come.
Why He Doesn’t Regret It
When asked if he regrets spending 10,000 BTC on pizza, Laszlo’s answer is consistent: no.
His reasoning?
“It was cool to be able to show that you could actually spend Bitcoin on something.”
For him, the transaction wasn't about personal wealth—it was about proving a concept. In a nascent ecosystem where trust and utility were unproven, his purchase became a powerful proof-of-concept.
He continued mining Bitcoin in the early years and sold portions over time (reportedly around 80,000 BTC total), but never held for speculation. His goal wasn’t to get rich—it was to participate, experiment, and contribute.
As he put it:
“I just wanted to see Bitcoin work.”
The Evolution of Bitcoin’s Utility
Ironically, as Bitcoin’s price soared, its practical use as a payment method declined.
High fees and slow confirmation times during peak usage made microtransactions impractical. A $5 coffee could cost $15 in network fees—hardly efficient.
That’s where solutions like the Lightning Network come in. By enabling off-chain transactions that settle instantly and cost fractions of a cent, Lightning revives Bitcoin’s original promise: peer-to-peer electronic cash.
Laszlo’s 2025 pizza purchase wasn't just symbolic—it was functional. It showed that with the right infrastructure, Bitcoin can once again be used for daily purchases.
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Where Are They Now?
Laszlo Hanyecz
Still active in the crypto space as a developer and advocate. He continues to support open-source projects and believes in Bitcoin’s long-term potential—not as a get-rich-quick scheme, but as a transformative technology.
Jercos (the buyer)
The teenager who bought the 10,000 BTC back in 2010 eventually sold most of his holdings around 2016 when Bitcoin hit $400—a 10x return at the time. While he didn’t hold through the later bull runs, he remains involved in blockchain technology and expresses strong interest in Ethereum and decentralized systems.
Frequently Asked Questions (FAQ)
Q: Is it true someone really paid 10,000 Bitcoin for two pizzas?
Yes. On May 22, 2010, programmer Laszlo Hanyecz paid 10,000 BTC for two Papa John’s pizzas via an intermediary. This is widely recognized as the first real-world purchase using Bitcoin.
Q: How much were those pizzas worth in 2025?
At current prices (over $11,000 per BTC), 10,000 bitcoins are worth more than **$110 million**, making it arguably the most expensive pizza order in history.
Q: Does Laszlo Hanyecz still have any Bitcoin?
While he mined extensively in the early days, Laszlo sold significant amounts over time. He does not appear to hold large reserves today but remains active in development and testing new crypto technologies.
Q: What is the Lightning Network?
The Lightning Network is a layer-2 scaling solution for Bitcoin that enables fast, low-cost transactions by processing them off the main blockchain and settling them later.
Q: Why is May 22 called Bitcoin Pizza Day?
It commemorates the first documented use of Bitcoin to buy physical goods—the two pizzas purchased by Laszlo Hanyecz in 2010.
Q: Could Bitcoin become practical for everyday purchases again?
With advancements like the Lightning Network, yes. These technologies reduce fees and increase speed, allowing Bitcoin to function efficiently for small transactions like buying coffee or pizza.
Final Thoughts: Value Beyond Money
Laszlo Hanyecz didn’t become a billionaire—but he helped build the foundation of one of the most disruptive financial technologies of our time.
His story reminds us that innovation often starts with small acts: a forum post, a pizza order, a willingness to try something new.
Today’s multi-billion-dollar crypto ecosystem owes part of its existence to people like him—early believers who weren’t just chasing profit but proving possibility.
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