In May 2010, a man in Florida offered 10,000 Bitcoin for two pizzas. At the time, that was roughly $41 worth of BTC. In 2025, it’s worth over $1.1 billion. Sounds absurd, right? Yet it’s no urban myth. It’s a legendary milestone known as Bitcoin Pizza Day, celebrated every May 22nd as the moment Bitcoin made its first leap from code to commerce.
What started with two Papa John's pizzas has grown into a global phenomenon, a benchmark in the timeline of decentralized money. This moment in crypto history now lives alongside events like Mt. Gox, the Ethereum DAO hack, the rise of Layer 2s, and Satoshi Nakamoto’s lasting influence.
Today, on the 15th anniversary of Bitcoin Pizza Day, we’re not just celebrating a quirky transaction; we’re honoring the first spark of real-world crypto adoption, and exploring how far the blockchain revolution has come.
The Birth of Bitcoin Pizza Day
On May 22, 2010, Laszlo Hanyecz—a developer and early Bitcoin enthusiast—posted on the BitcoinTalk forum:
“I’ll pay 10,000 Bitcoins for a couple of pizzas... maybe two large ones so I have some left over for the next day.”
A user in England took him up on the offer. He ordered two Papa John’s pizzas and had them delivered to Laszlo in Florida. The transaction was completed, and just like that, Bitcoin achieved its first known real-world utility.
Some say he lost billions. Others say he gave crypto its first breath.
That moment is more than just trivia. It was proof that Bitcoin wasn’t just a whitepaper anymore. It had value, even if it was just enough for pepperoni and cheese.
Laszlo’s $1.1 Billion Meal
Today, 10,000 BTC is worth over $1.1 billion. And while most of us would struggle to digest such a loss, Laszlo has no regrets, but I wonder if he said that for the cameras.
“I didn’t do it for the money. I wanted to prove Bitcoin could be used for something in the real world.”
That humility and experimentation laid the groundwork for an industry now valued in the trillions.
How Crypto Has Grown (2010–2025)
Let’s map the journey of Bitcoin and the broader crypto ecosystem since that legendary pizza order
- 2010: Just Code
Bitcoin was a niche interest for developers and libertarians. Mining was done on home computers. Exchanges were non-existent. Bitcoin had no price on major markets, it was purely experimental.
- 2011–2013: The Mt. Gox Era
Bitcoin reached parity with the US dollar. Exchanges like Mt. Gox emerged, handling 70% of all BTC transactions. But cracks formed. Security issues plagued the space, culminating in the infamous Mt. Gox hack of 2014, where 850,000 BTC were lost.
- 2015: The Rise of Ethereum and Smart Contracts
Enter Ethereum, a new blockchain that introduced smart contracts and opened the door for decentralized applications (dApps). Suddenly, crypto wasn’t just about money, it was programmable.
- 2017: ICO Boom and Bitcoin Hits $20K
Bitcoin surged to $20,000, fueled by speculation and a flood of Initial Coin Offerings (ICOs). The network was tested. Fees spiked. Ethereum clogged. But innovation flourished.
- 2020–2021: DeFi, NFTs, and Institutional Influx
Decentralized Finance (DeFi) redefined financial tools, no banks, no brokers. Platforms like Uniswap, Aave, and Compound exploded. Then came NFTs, popularized by platforms like OpenSea.
Tesla bought BTC, El Salvador made it legal tender, and the industry went mainstream.
Bitcoin hit $64,000. Then came the correction.
- 2022–2023: Collapse and Consolidation
The crypto world faced brutal reckonings from Luna’s crash to FTX’s implosion. Billions were lost. Trust was shaken. But like any tech cycle, winter brought focus.
- 2024–2025: The Modular Renaissance
Today, innovation is at its peak. We’re seeing the rise of:
- Layer 1s like Ethereum, Solana, and Sui continue evolving
- Layer 2s such as Arbitrum, Optimism, Base, and StarkNet scale Ethereum
- Layer 3s, like zkSync Hyperchains, open a future of customizable application chains
These aren’t just faster chains, they’re building blocks for a modular, scalable, interoperable Web3.
Security And Hacks That Shaped Us
Security has always been the double-edged sword of crypto. Alongside Pizza Day’s optimism, the industry has faced hard lessons:
- 2014: Mt. Gox Hack, 850K BTC vanished
- 2016: The DAO Hack, $60M stolen, Ethereum splits
- 2020: DeFi Rugpulls, Flash loan exploits run rampant
- 2022: Ronin Bridge Hack, $625M stolen from Axie Infinity
- 2022: FTX Collapse, Mismanagement, fraud, and betrayal
- 2023: Multichain, Atomic Wallet, and Balancer Attacks
- 2025: Bybit hack, 1.4 billion Sig hack
Each incident drove the demand for audits, bug bounties, and zero-knowledge cryptography. In response, teams like Drosera and OpenZeppelin redefined smart contract security with proactive tooling.
Satoshi’s Influence Still Echoes
Though Satoshi Nakamoto vanished in 2011, the framework he left behind still guides the ship. Bitcoin’s capped supply, decentralized consensus, and trustless ethos became the blueprint for a new digital age.
His final forum post still resonates:
“I’ve moved on to other things.”
But we haven’t. We’re still building on his dream.
Real-World Crypto Adoption Today
OGs don’t just celebrate Pizza Day in 2025. It’s a global holiday in the crypto calendar. Here’s how the world celebrates:
- Crypto exchanges like Binance, Coinbase, and Bybit drop Pizza Day rewards
- Pizza chains release NFT campaigns and Bitcoin payment promos
- Twitter/X threads relive the Laszlo story with memes and metrics
- Global meetups honor the day with pizza parties and panels
- DeFi apps run yield farming events themed around slices and toppings
Even McDonald’s and Pizza Hut launched NFT loyalty collectibles this year. And yes, somewhere in the world, someone just paid in BTC for a pizza, and tweeted it.
What Pizza Day Teaches Us in 2025
Bitcoin Pizza Day is no longer just a meme. It’s a case study. A reminder. A lesson.
- That value comes from use
- That early adopters sacrifice for future wins
- That crypto is about experimentation as much as it is about preservation
Without Laszlo’s pizzas, would Bitcoin have taken off? Would developers have been inspired to build exchanges, wallets, and smart contracts?
Probably. But maybe not as fast.
Laszlo didn’t just buy dinner. He lit the fuse.
What Comes After Pizza?
As we move into 2025 and beyond, crypto is no longer fighting for relevance. It’s evolving.
With AI-integrated smart contracts, on-chain reputation, real-world assets (RWAs), and governance 2.0, we’re only scratching the surface of what lies ahead.
Right now, people stake Bitcoin, earn yield, mint NFTs, and build decentralized identities.
Tomorrow?
You might file taxes, get married, or earn a degree, all on-chain.
Pizza was just the appetizer.
Final Slice
Fifteen years later, we don’t just remember Bitcoin Pizza Day. We live by its spirit.
It’s about belief before proof. Vision before charts. Pizza before profits.
So today, order a slice. Tweet your pie. Honor Laszlo. And remember: every crypto revolution starts with a transaction so small, it seems silly, until it changes the world.
Happy Bitcoin Pizza Day 2025.
See more of what we do at LearnHub? Check out some of our amazing posts.
Follow us on X to stay updated on what we are up to.
Top comments (1)
Great recap of how far crypto has come since the first pizza transaction. It’s amazing to see the lasting impact of that moment and how much the industry has evolved.
Some comments may only be visible to logged-in visitors. Sign in to view all comments.