Bitcoin Pizza: The history of cryptocurrencies told by the pizza bought with 10,000 BTC

2026-01-09 15:39:58

On May 22, 2010, a single transaction executed by programmer Laszlo Hanyecz came to symbolize the 15-year journey of cryptocurrency. The event of purchasing two pizzas with 10,000 Bitcoins is not just a curious story; it records the moment when Bitcoin transformed from “experimental code” to “practical value.”

From a Few Tens of Dollars to Hundreds of Thousands Today

At that time, the value of 10,000 Bitcoins was only a few tens of dollars. Per Bitcoin, it was about $0.004, almost worthless. The amount paid for the pizzas was a very natural transaction given the market sentiment at the time.

However, over time, Bitcoin’s valuation changed dramatically. Looking at the following progression, you can see how symbolic this “most expensive pizza” was:

February 2011: 1 BTC = $1 → 10,000 BTC = $10,000
May 2015: 1 BTC = $240 → 10,000 BTC = $2.4 million
May 2024: 1 BTC = $69,000 → 10,000 BTC = over 690 million yen
January 2026: 1 BTC ≈ $91,710 → 10,000 BTC nearly $1 billion

This price difference is not just about numbers; it’s a record of how Bitcoin was accepted worldwide.

Why Bitcoin Pizza Was a Turning Point for Cryptocurrency

From Theory to Reality

Before Bitcoin Pizza Day, Bitcoin was mainly an experimental existence among technologists. While the mechanism was attracting attention, it had yet to be proven usable for real-world shopping.

By using Bitcoin to pay for the pizza, Laszlo demonstrated for the first time that digital code could be exchanged for actual goods. This event marked the beginning of Bitcoin being recognized as a “potentially usable” asset.

The Emergence of Recognition as a Payment Method

The Bitcoin Pizza transaction created a tangible value benchmark for the first time. It showed concretely how much Bitcoin was needed to buy what kind of items.

This became the starting point for the widespread adoption of cryptocurrency payments later on. Today, the recognition of cryptocurrencies as a payment method in restaurants and online services stems from such early transactions. Bitcoin Pizza Day holds a special place in the history of cryptocurrencies as its origin.

What Bitcoin Pizza Teaches Us

The essence of this event is not a story of regret but a record of innovation. Certainly, the pizza buyer at the time suffered a huge loss when viewed at current prices. But at the same time, because of that transaction, Bitcoin was able to evolve from just a technical mechanism into something with societal value.

Without that choice on May 22, 2010, cryptocurrency might not have spread to this extent. Tracing how digital money has been accepted worldwide, Bitcoin Pizza remains a significant event with lasting meaning.

Now that Bitcoin has reached nearly $91,710, it reminds us of the profound impact that purchase of those pizzas back then had.

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