Every year on May 22, the cryptocurrency world celebrates a unique and lighthearted holiday known as Bitcoin Pizza Day — a global meme that honors the first real-world transaction using Bitcoin. This tradition traces back to one legendary moment in 2010 when a software developer named Laszlo Hanyecz made history by spending 10,000 BTC on two large pizzas. Today, that transaction would be worth hundreds of millions of dollars, but at the time, Bitcoin had little to no monetary value. Let’s explore the story behind this iconic event, the man behind it, and how it shaped the early narrative of digital currency adoption.
The First Real-World Bitcoin Transaction
On May 18, 2010, Laszlo Hanyecz posted on the BitcoinTalk forum:
“I’ll pay 10,000 BTC for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day… I like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc…”
At the time, 10,000 BTC was worth about $40. He wasn’t buying pizza for profit — he was testing the idea that Bitcoin could function as real money. For days, no one responded. By May 21, he began to wonder if his offer was too low. Then, on May 22, someone stepped in.
A fellow forum user named Jeremy Sturdivant (known online as "jercos") ordered two Papa John’s pizzas and delivered them to Laszlo. In return, he received 10,000 BTC — marking the first documented use of Bitcoin to purchase physical goods.
This seemingly small act proved something monumental: Bitcoin could be used not just as a digital experiment, but as a medium of exchange in everyday life.
👉 Discover how early Bitcoin transactions paved the way for modern crypto adoption
Beyond the Pizza: Laszlo Hanyecz’s Contributions to Bitcoin
While most remember Laszlo for the pizza purchase, his contributions to Bitcoin go far deeper. As a skilled software engineer, he joined the Bitcoin project in 2009, just months after its creation by Satoshi Nakamoto.
He played a crucial role in improving Bitcoin’s codebase, fixing bugs, and most notably, developing the first macOS version of Bitcoin Core. This made it easier for Apple users to run full nodes and participate in the network — a significant step toward decentralization.
But perhaps his most impactful innovation was GPU mining.
In May 2010 — the same month as the pizza transaction — Laszlo introduced the concept of using graphics processing units (GPUs) instead of CPUs to mine Bitcoin. After experimenting on his MacBook, he found that GPU mining increased computational efficiency by up to 10x. He shared his code publicly on BitcoinTalk, enabling others to follow suit.
Interestingly, Satoshi Nakamoto expressed concern about this shift, warning that it might centralize mining power. But the trend took off anyway, laying the foundation for modern mining rigs and the industrial-scale operations we see today.
A Philosophy of Open-Source Contribution
Laszlo never viewed Bitcoin as a get-rich-quick scheme. In interviews, he described mining as a hobby — one that happened to reward him with digital coins. He once revealed that he spent nearly 100,000 BTC on pizzas and gifts over time, often giving away 100 or 1,000 BTC just to help others join the ecosystem.
“To me, those pizzas were essentially free,” he said. “I was contributing to an open-source project I believed in. Most hobbies cost money — this one gave me dinner.”
That mindset reflects the early spirit of Bitcoin: collaboration over speculation, utility over price tags.
Eventually, Laszlo stepped back from active development, citing community noise and growing commercialization. But he remained a committed holder and believer in Bitcoin’s long-term potential.
A Full-Circle Moment: The 2018 Lightning Network Pizza
Eight years later, on February 25, 2018, Laszlo made headlines again — this time under very different circumstances.
Using the newly launched Lightning Network, a layer-2 scaling solution designed to enable fast and cheap Bitcoin transactions, he bought two more pizzas. This time? He paid just 0.00649 BTC — roughly $62 at the time.
The symbolic gesture showed how far Bitcoin had come: from a slow, impractical network for daily payments to one capable of handling microtransactions efficiently through innovations like off-chain channels.
And just like in 2010, his daughter — once an infant — was now a growing girl. Time had passed. Technology had evolved. So had the world’s understanding of digital money.
👉 See how layer-2 solutions are transforming Bitcoin’s usability today
Why Bitcoin Pizza Day Still Matters
Bitcoin Pizza Day isn’t just about nostalgia or memes. It represents a foundational moment in financial history — the moment digital scarcity met real-world demand.
Core keywords naturally embedded throughout this article include:
- Bitcoin Pizza Day
- Laszlo Hanyecz
- first Bitcoin transaction
- GPU mining
- Bitcoin adoption
- Lightning Network
- Bitcoin history
- real-world Bitcoin use
These terms reflect both historical significance and ongoing relevance in discussions around cryptocurrency utility and evolution.
Frequently Asked Questions (FAQ)
Q: Who is Laszlo Hanyecz?
A: Laszlo Hanyecz is a software developer and early Bitcoin contributor best known for making the first real-world purchase using Bitcoin — two pizzas for 10,000 BTC in 2010.
Q: What did Laszlo Hanyecz do for Bitcoin besides buying pizza?
A: He developed the first macOS version of Bitcoin Core, fixed critical bugs, and pioneered GPU mining — significantly advancing Bitcoin’s technical infrastructure.
Q: Did Laszlo regret spending 10,000 BTC on pizza?
A: No. He has stated that he viewed Bitcoin as part of an open-source hobby and felt the pizzas were essentially free since he earned the coins through coding work.
Q: How much was 10,000 BTC worth in 2010 vs today?
A: In 2010, 10,000 BTC was worth around $40. At current market values (as of recent years), it could exceed $600 million — making it one of the most expensive meals in history.
Q: Has Laszlo Hanyecz spent more Bitcoin on pizza?
A: Yes. He revealed he spent nearly 100,000 BTC on food and gifts in the early days. However, in 2018, he used only 0.00649 BTC to buy pizza via the Lightning Network.
Q: What is the significance of Bitcoin Pizza Day?
A: It marks the first known use of Bitcoin for purchasing physical goods, proving its potential as a real-world currency and inspiring future adoption.
👉 Learn how you can start using Bitcoin for everyday transactions today
Final Thoughts
The story of Laszlo Hanyecz is more than a cautionary tale about missed fortunes — it’s a celebration of innovation, belief in technology, and the power of community-driven projects. His actions helped prove that Bitcoin wasn’t just code — it could buy lunch.
As we observe Bitcoin Pizza Day each year, we’re reminded that every financial revolution begins with a simple act: someone believing enough in an idea to trade it for something real.
And sometimes, that real thing is just… pizza.