Bitcoin Pizza Day: The $990 Million Meal That Launched a Cryptocurrency Tradition

In May 2010, programmer Laszlo Hanyecz traded 10,000 bitcoins for two pizzas. Those bitcoins would be worth $990 million at today's prices.

On May 18, 2010, programmer Laszlo Hanyecz made history when he traded 10,000 bitcoins for two pizzas. At the time, bitcoins were trading at around $0.003 each, making the total value of the pizzas around $30. However, the value of bitcoins has since risen astronomically, and those same pizzas would now be worth around $990 million.

Hanyecz posted an offer on a Bitcoin forum, proposing to trade the bitcoins for "any kind of pizza" that he could have delivered to his doorstep in Jacksonville, Florida. He specified that he wanted pizzas with "lots of toppings," including spicy sausage, onions, green peppers, and mushrooms, but "no pineapple."

Several people responded to Hanyecz's offer, but most were either not interested in the trade or were not located in the United States. However, one person who did respond and agree to the trade was Jeremy Sturdivant, a 19-year-old teenager from California.

Sturdivant used his credit card to order two pizzas from Papa John's for Hanyecz, and then he drove the pizzas to Hanyecz's house. In exchange for the pizzas, Sturdivant received 10,000 bitcoins, which he later sold for around $400, making a profit of 10 times his original investment.

Hanyecz shared pictures of his pizzas online, dubbing the exchange Bitcoin's first real transaction. At the time, 10,000 bitcoins were valued at only $30, so it seemed like a fair trade to both parties.

Even though Bitcoin's value was rising at the time, those pizzas were still considered to be very expensive. However, what was an ordinary purchase at the time is now a legend in the crypto world.

By 2013, those pizzas were already valued at $10 million. Their value continued to rise, reaching $600 million in 2021. With Bitcoin nearing $100,000, those pizzas will be valued at $1 billion by 2024.

Now, this purchase is a well-known joke in the crypto world and is celebrated every year as Bitcoin Pizza Day.