How a Man Bought Pizza With Bitcoin and Sparked a Revolution

On a spring day in 2010, an early Bitcoin developer made a decision that would echo through cryptocurrency history for more than a decade. A man buys pizza with bitcoin—this simple act became the moment when digital currency transformed from theoretical experiment to practical reality. What began as a casual forum post offering 10,000 Bitcoins for two large pizzas evolved into “Bitcoin Pizza Day,” a legendary milestone that proved the world’s first cryptocurrency could actually function as a medium of exchange.

The Day Bitcoin Became Real: A Pizza Transaction Worth Millions

At 12:35 PM on May 18, 2010, Laszlo Hanyecz posted on the Bitcoin Talk Forum, the community initiated by Satoshi Nakamoto, with an unusual proposal. He offered to exchange 10,000 Bitcoins for two large pizzas—either homemade or takeout. At that moment, the entire cryptocurrency was still largely unknown to the broader public. Bitcoin had only existed for a few months, and most people hadn’t even conceived of trading it as a currency. Laszlo’s post generated little immediate interest.

For four days, his offer sat unanswered. He began wondering if 10,000 Bitcoins—worth approximately $30 at the time—was too low a price for pizza delivery. Then, on May 22, 2010, Laszlo confirmed the deal had succeeded. He posted a photo of the pizzas, marking the moment when cryptocurrency moved from computers into the real world. This transaction carried profound significance: it demonstrated that Bitcoin could function not just as a stored digital asset, but as an actual currency with real-world utility.

In a 2019 interview with Bitcoin Magazine, Laszlo explained his motivation with refreshing honesty: “The reason I wanted to buy pizza with bitcoin is because it was free pizza for me. I mean, I wrote this thing and mined Bitcoin, and I felt like I won the Internet that day—I earned pizza by contributing to open source projects. Usually hobbies cost time and money, and in this case, my hobby bought me dinner.”

The Mind Behind the Transaction: Laszlo’s Mining Innovation

As a programmer and early adopter, Laszlo Hanyecz holds a unique place in Bitcoin’s origin story. He wasn’t merely a user; he was one of the first people to pioneer GPU mining, the technology that dramatically accelerated Bitcoin extraction beyond CPU mining. When Bitcoin launched in 2010, mining was simpler and less competitive—Laszlo was able to amass tens of thousands of coins through his innovation.

According to blockchain explorer OXT, Laszlo’s wallet data reveals the trajectory of his mining success. Beginning in May 2010, his wallet began accumulating significant Bitcoin holdings. By that month alone, his peak balance reached 20,962 BTC. Even more remarkably, by June 2010, his wallet hit a record high of 43,854 BTC—nearly all replenished through mining after the pizza transaction.

What makes Laszlo’s story particularly striking is his lack of regret. As Bitcoin’s value climbed to extraordinary heights—those 10,000 Bitcoins eventually worth more than $260 million at 2025 valuations—Laszlo remained philosophical. According to historical accounts, he never lost sleep over the decision. For him, the transaction represented something more valuable than speculative profit: it proved Bitcoin’s fundamental purpose. He continued using Bitcoin for real-world purchases, eventually spending approximately 100,000 Bitcoins across various transactions—holdings now worth more than $4 billion in hindsight.

Laszlo deliberately maintained a low profile throughout Bitcoin’s explosive growth. He avoided social media attention and never sought celebrity status within the crypto community. As he stated in interviews: “Honestly, I kind of stayed out of it because there was so much attention. I didn’t want to draw that attention and I certainly didn’t want people to think I was Satoshi. I just thought it was better as a hobby. I have a normal job, I’m not doing Bitcoin full-time. I don’t want it to be my responsibility and my career. I’m glad I was able to be involved to this extent.”

From Pizza Seller to Bitcoin Advocate: Jeremy’s Perspective

The man who sold pizza for Bitcoin deserves equal recognition in this story. Jeremy Sturdivant, then just 19 years old and based in California, became Laszlo’s transaction partner. Jeremy had independently discovered Bitcoin in 2009 and begun mining his own holdings. Unlike many early adopters who hoarded their coins, Jeremy actively used Bitcoin to make purchases whenever possible, treating it as a functional currency rather than a speculative asset.

When Jeremy received 10,000 Bitcoins from Laszlo, he didn’t view it as a transaction to regret. Instead, he used the coins to fund travel with his girlfriend—experiences he valued deeply at the time. In 2018, nearly a decade later, Jeremy reflected on the exchange during an interview. He acknowledged that he never anticipated Bitcoin’s astronomical appreciation potential. Yet remarkably, he expressed no regret whatsoever.

Jeremy’s perspective proved philosophically sound. The $400 he had earned from making and selling the pizzas had appreciated roughly tenfold in immediate terms, and the transaction demonstrated that early Bitcoin believers were willing to conduct real commerce. From his standpoint, this was a transaction well-executed, a moment when he participated in cryptocurrency history while gaining practical value.

The Legacy: How Pizza Changed Bitcoin Forever

The significance of the May 22 pizza transaction extends far beyond its participants. This exchange fundamentally altered how the cryptocurrency community understood Bitcoin. It proved that the technology could bridge the digital and physical worlds, that buyers and sellers could use it for everyday purchases, and that the network functioned as intended by its creator.

By 2023, Bitcoin had evolved from a niche experiment to a mainstream financial asset, with institutions and capital markets demonstrating sustained confidence in its future. Bitcoin Pizza Day became an annual celebration within the crypto community—May 22 marked not just a historical transaction, but a cultural cornerstone of cryptocurrency’s journey.

The story of how a man buys pizza with bitcoin resonates precisely because both principal actors responded with grace and perspective rather than regret. Laszlo continued contributing to the Bitcoin community as a developer and enthusiast. Bitcoin Magazine noted that his contributions extended beyond the pizza meme: “He provided us with Bitcoin Core and GPU mining on MacOS—and the pizza meme, which, while perhaps not as important or impressive as Hanyecz’s other contributions, makes May 22nd memorable (and delicious) for the community every year.”

What began as a casual experiment by early adopters—trading digital currency for actual food—became the enduring symbol of Bitcoin’s real-world utility and the open-minded spirit of its pioneering community. Two men, a pizza delivery, and 10,000 Bitcoins proved that cryptocurrency could be more than theory: it could be lived, shared, and celebrated.