On May 22, Bitcoin Pizza Day commemorates the first commercial transaction using Bitcoin, when 10,000 BTC was exchanged for two large Papa John’s pizzas. In May 2010, Laszlo Hanyecz offered 10,000 BTC for two pizzas, and Jeremy Sturdivant accepted, ordered the food, and received the Bitcoin through a manual transfer. The event is often remembered for the buyer, while the recipient is less discussed. Each year, the fixed 10,000 BTC amount is revalued using the day’s spot price. The value has fluctuated sharply, reaching $674 million in 2024, $1.106 billion in 2025, and about $777.87 million at the current anniversary, down from last year.
"On this Pizza Day, they are worth $777.87 million - down $328 million from last year's anniversary price. Bitcoin Pizza Day, observed each May 22, marks the first commercial transaction using Bitcoin - the moment a digital currency stopped being a theoretical experiment and became a medium of exchange for real goods."
"On May 18, 2010, Hanyecz posted on the BitcoinTalk forum with a straightforward offer: 10,000 BTC to anyone willing to order him two pizzas. Some forum users were skeptical - one pointed out he could sell the coins for $41 in cash. Hanyecz's reply was simple: "I just think it would be interesting if I could say that I paid for a pizza in Bitcoins"."
"Four days later, a then-19-year-old forum user named Jeremy Sturdivant accepted, ordered the pies from Papa John's, and collected 10,000 BTC via manual transfer. Bitcoin had its first exchange rate against a consumer good. Everyone talks about the guy who paid 10,000 bitcoin for two pizzas, but no one talks about the guy who received the 10,000 bitcoin."
"Every May 22, that fixed 10,000 BTC gets revalued at the day's spot price - the cleanest annual benchmark crypto has. In 2024, the stack was worth $674 million. In 2025, it hit a record $1.106 billion, with Bitcoin trading at $110,568 on that day's all-time high. Today, with Bitcoin near $77,300, the stack sits at $777.87 million - down 29.7% from last year."
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]