That Time Someone Paid $1.1 Billion for Two Pizzas—And Why Crypto Won’t Let You Forget It

Bitcoin Pizza Day isn’t just a meme—it’s a $1.1 billion monument to crypto’s wild volatility and the power of diamond hands. Every May 22nd, the industry collectively winces at Laszlo Hanyecz’s 2010 trade: 10,000 BTC for two Papa John’s pies. Today? That stack could buy a private island—plus a pizza oven.

The irony tastes better reheated: Wall Street still scoffs at crypto while Hanyecz’s ’reckless’ lunch now funds legacy finance conferences. The kicker? He’d do it again—proof that utility beats hindsight in this market.

So crack open a cold one (or a cold wallet) and toast the OGs. Just maybe skip the BTC toppings—unless you’re feeling *really* bullish.

First Real Bitcoin Purchase

According to BitcoinTalk forum records, on May 22, 2010, Laszlo Hanyecz posted a request to swap 10,000 BTC for two pizzas. A 19-year-old user known as “jercos” agreed. He bought two pies from Papa John’s for roughly $25 and had them sent to Hanyecz’s door. That moment became the first time bitcoin was used to buy a physical item. It was simple and almost accidental. Few saw it as the start of something big.

Value Surge Over Time

Based on reports from market data sites, Bitcoin hit a new all-time high of $111,056 on May 23, 2025, up 0.25% in 24 hours. A single coin now tops six figures. Those 10,000 BTC would today buy about 70 million pizzas at the same price. The global crypto market cap sits near $3.50 trillion. This rise shows how early bets on crypto have paid off, though not without big swings along the way.

From Berlin to Manila, local communities celebrate the day with meetups and speeches. In the Philippines, fans organize booths and panels to educate neophytes. They offer advice on wallets, security, and reading blockchain information. In Europe, small restaurants even accept crypto payments for slices. It’s a mix of party atmosphere and beginner lessons. People share stories of their first trades or near-missed gains.

For others, Bitcoin Pizza Day is not just nostalgia. It illustrates the risks and rewards of early technology wagers. It reminds consumers how quickly markets shift. Retail investors observe that small decisions in 2010 can equal gigantic amounts today. But it also cautions against wild volatility. Prices increase or decrease by thousands within a matter of hours. Figuring out how to cope with that is now part of rudimentary crypto literacy.

Over 15 years, Bitcoin has gone from underground code to a mainstream asset, exchanges now offer futures, ETFs and custody services, some governments even talk of holding it as a reserve, and US President Donald TRUMP has called for clear crypto rules.

As wallets and apps get friendlier, people are using Bitcoin for everyday buys and building on-chain payment tools. Before long, grabbing coffee with Bitcoin could feel as normal as swiping a card, an idea that started in 2010 when 10,000 coins bought two pizzas.

Featured image from Unsplash, chart from TradingView