Bitcoin Pizza Day: A Reflection on Its 15th Anniversary
May 22, 2025, marks a significant milestone—the 15th anniversary of the infamous Bitcoin Pizza Day. Back on that day in 2010, Laszlo Hanyecz, an early Bitcoin developer, made history by spending 10,000 BTC to buy two pizzas. So, what became of Hanyecz and the recipient of those Bitcoins, Jeremy Sturdivant? And what does this occasion truly signify?
What is Bitcoin Pizza Day?
Laszlo Hanyecz, a pioneer in the Bitcoin community based in Florida, is credited with some of the earliest work in Bitcoin development and mining. On May 18, 2010, he made a rather unusual request on a Bitcoin forum, asking for two large pizzas in exchange for 10,000 Bitcoins.
He was quite particular about his order, specifying ingredients he liked, like onions and pepperoni, and even asked to avoid “strange fish toppings.”
The forum buzzed with activity for days. Some users noted that 10,000 BTC was worth merely $41 at the time, while others found it challenging to order pizzas from outside the US. One user humorously noted:
“I think it would be funny to say that I paid for pizza with Bitcoin.”
This comment perhaps unintentionally highlighted Bitcoin’s envisioned purpose as digital cash, as outlined in Nakamoto’s famous white paper.
On May 22, Hanyecz confirmed that he had indeed bought two pizzas for 10,000 BTC, even sharing a link to show off his order. Curiously, he stated that he’d be happy to keep the offer open as long as he had the Bitcoins. “I usually have a lot,” he remarked. At that time, the block reward stood at 50 BTC, and the buyer, Jeremy Sturdivant, was a 19-year-old student from California.
As Bitcoin prices jumped later that year, Hanyecz joked about spending 10,000 BTC ($600) on just two pizzas. By then, it was déjà vu for many as comments flooded in, asking if he regretted the expensive meal as prices soared. Fast forward to May 22, 2025, and those 10,000 BTC have shot up to an astounding $1.1 billion, just hours after hitting a record high.
Thoughts from Hanyecz and Sturdivant Years Later
Sturdivant has participated in various interviews, expressing his awareness of the historical significance of the trade. He acknowledged that, had he not engaged in this transaction, someone else would have eventually made a similar purchase.
“I feel that my part is critical and invaluable… I’m thrilled to have had the chance to contribute,”
While some reports suggested he blew all his Bitcoin on a trip with his girlfriend, he clarified that he only spent about $400—still ten times what he originally paid.
Hanyecz, on the other hand, has reflected on the trade, noting that he doesn’t view spending 10,000 BTC on pizzas as a lavish expenditure. Instead, he described it as a bit of fun—an unusual reward for his contributions to the network. “It wasn’t very worth it back then. Didn’t we spend a fortune on pizza?” he joked, underscoring his perspective.
In 2018, Hanyecz made headlines again by purchasing pizzas using the Lightning Network. The transaction went seamlessly, allowing him to enjoy two pizzas once more, this time with the help of Bitcoin.
Bitcoin Pizza Day is now an annual event, remembered fondly as educational posts flood the internet. Coincidentally, this anniversary lined up perfectly with Bitcoin’s price surpassing $111,500 for the first time.
Isabella Santos, founder of BTC ISLA, celebrated this event by enjoying a pizza she paid for with Bitcoin. This was especially significant given her efforts to make Mexican island Mougeres a Bitcoin haven, with more than 17 local businesses starting to accept it.
Pierre Rochard, a prominent advocate in the Bitcoin community, humorously questioned why anyone would buy two pizzas when they could just slice one in half. Perhaps the reasoning lies in the absence of such choices back in 2010.
Commentators on social media have drawn intriguing connections between the value of the two pizzas and Papa John’s market cap, showcasing how far Bitcoin has come since that initial purchase.
Interestingly, public sentiment has shifted over the years. What once was a tale of regret—”The man spent millions on pizza”—has transformed into a legendary narrative, applauding those who made Bitcoin relevant in the real world. While Hanyecz has become a well-recognized figure, Sturdivant remains a little less known.
The Significance of Bitcoin Pizza Day
In a forum thread, a user mused about how Hanyecz could have been a millionaire had he held on to his Bitcoins instead of spending them. Another countered by explaining the importance of circulation for Bitcoin’s value. If no one used Bitcoin for purchases, its worth would plummet.
This exchange illustrates a critical point. While some argue that Bitcoin shouldn’t be spent, others see it as a tool for actual transactions. Hanyecz’s purchase symbolizes the true essence of Bitcoin as a workable peer-to-peer payment system.
Before this historic pizza transaction, Bitcoin was largely confined to coding and speculation. But on May 22, Bitcoin stepped into the real world, making its first impact on the economy beyond the mining costs.
Sure, Hanyecz may have missed out on potential profits, but he wasn’t sitting idly by. He believed in Bitcoin’s potential to function as money, and that faith has led to a significant precedent over the years.
