From hunger to legend: how 10,000 bitcoins changed the way we think about digital money

Imagine a situation: you spend something that today is worth nearly a billion dollars on two pizzas. Sounds crazy? For Laszlo Hanyecz in May 2010, it was a natural action—and this transaction has forever entered the history of cryptocurrencies.

When Bitcoin Was Still Nobody – The Story That Changed Everything

In May 2010, Bitcoin had no established value. It was just the first few months of the network’s existence, and the future of this currency was completely uncertain. It was during this time that Laszlo Hanyecz, a programmer from Florida and one of Bitcoin’s early miners, posted a simple message on the Bitcointalk forum: he wanted to buy a pizza and was willing to pay for it with bitcoins.

Hanyecz wasn’t trying to make history—he was just hungry. His offer could have gone unnoticed, but on May 22, 2010, four days after the announcement, Jeremy Sturdivant accepted the challenge. The nineteen-year-old (known as “jercos” on the forum) ordered two large pizzas from Papa John’s to Hanyecz in Florida and received 10,000 bitcoins in exchange.

The Valuation That Shocked the World

At the time of the transaction, 10,000 BTC was worth about $41—that’s less than $0.004 per bitcoin. It seemed insignificant. But here’s what happened next:

• Less than a year later, Bitcoin reached parity with the dollar, and the pizzas were worth $10,000
• In 2015, these bitcoins reached a value of $2.4 million
• Today, with Bitcoin trading at around $90.87K, the same 10,000 BTC would be worth nearly $910 million

This was perhaps the most expensive food delivery in human history. All because of four days and hunger.

It Matters That Both Participants Regret Nothing

Surprisingly—neither Hanyecz nor Sturdivant expressed regret. Hanyecz repeatedly stated that Bitcoin had no value at the time, and his goal was to prove that digital currency could indeed function as a medium of exchange. He wanted to turn Bitcoin from a theoretical experiment into practical money.

Sturdivant, on the other hand, spent the bitcoins he received within a year on various things—road trips, adventures. The concept of “HODL”(long-term holding) wasn’t yet popular, and the future of Bitcoin seemed uncertain even to market participants.

Two Pioneers’ Portraits

Laszlo Hanyecz – not just a hungry programmer. He was one of the first thousands of Bitcoin miners who made a significant technical contribution to the network’s development. He created one of the first GPU mining software implementations, forever changing the mining landscape. His involvement didn’t end with pizza—in 2018, he became the first person to buy a pizza via the Lightning Network, demonstrating ongoing support for Bitcoin as a practical currency.

Jeremy Sturdivant – a young enthusiast who saw the opportunity. His decision to accept Hanyecz’s offer was crucial in demonstrating that Bitcoin could indeed operate in the real world. Although his financial gain turned out to be much smaller than Hanyecz’s in the long run, his role in this story is equally important.

Why Does This Transaction Matter to This Day?

The pizza transaction wasn’t just a purchase—it was a proof of concept. It established Bitcoin’s first real valuation and showed that digital currency could be used to buy physical goods. It opened the door for widespread cryptocurrency adoption.

The Bitcoin Pizza story serves as an accessible entry point for explaining cryptocurrencies to newcomers. It helps bridge the gap between technical complexity and practical understanding. When someone asks “why Bitcoin?”, the answer is: because it was once used to buy a pizza.

Bitcoin Pizza Day: A Community Celebration

Every May 22, the cryptocurrency community celebrates this milestone. Exchanges offer promotions, crypto-friendly restaurants give discounts for BTC payments, and social media is full of memories and memes. It’s no longer just an anecdote—it’s part of digital money culture.

Interesting details of this transaction:

• The total cost was actually 10,001 BTC (including the transaction fee)
• The transaction was recorded in block 57,043 of the blockchain
• Hanyecz’s address participated in over 3,300 transactions after that famous purchase

A Lesson for Today

The story of Laszlo Hanyecz and his pizza teaches us something fundamental: the value of technology lies in its practical application, not in speculative potential. Bitcoin started from a boy’s hunger and one person’s willingness to experiment.

For those entering the cryptocurrency space now, this story is a reminder that every great technology begins with small, brave steps. And sometimes, with a good pizza.