The History of Laszlo Hanyecz: When Bitcoin Met Pizza

Ten years before Bitcoin became an economic phenomenon, programmer Laszlo Hanyecz made a transaction that would overshadow most of today’s investments. In May 2010, Laszlo Hanyecz proposed to exchange 10,000 bitcoins for two pizzas. At that time, that amount of coins was worth only $30 – today, the same number of bitcoins would be worth about $667 million at the current rate of $66,73K.

The Beginning: When Laszlo Hanyecz Sought a Way to Get Pizza

The story began with a simple post on the Bitcoin forum. Programmer Laszlo Hanyecz, wanting to test the practical use of cryptocurrency, proposed to exchange Bitcoin not for gold or cash, but for something more down-to-earth – food. He was looking for someone to order him two pizzas with toppings: spicy sausage, onions, and green peppers. Only pineapple was completely excluded from the wish list.

At that time, Bitcoin was merely a technological curiosity. Most people did not understand its potential, and a small number of users were even aware of its existence. Although Laszlo Hanyecz received a few responses, most potential trading partners lived outside the United States. The problem seemed unsolvable.

Breakthrough: Jeremy and the First Real Transaction

The solution came from an unexpected direction. A nineteen-year-old teenager named Jeremy Sturdivant offered himself as an intermediary. Using his credit card, Jeremy ordered two pizzas from a local pizzeria for Laszlo Hanyecz and received 10,000 bitcoins in return. For Jeremy, it was a convenient transaction – he was exchanging a $25 investment for 10,000 digital coins.

Laszlo Hanyecz immortalized the moment of his victory by photographing the pizzas and sharing the pictures online. He called this exchange the first real commercial transaction of Bitcoin – the moment when virtual currency became a reality that could be exchanged for something physical and concrete.

From $30 to $667 Million: The Evolution of Value

The value of Bitcoin increased exponentially. By 2013, the two pizzas that Laszlo Hanyecz received were already worth $10 million. In 2021, when the price of Bitcoin reached peak levels, the same amount of coins reached a value of $600 million. Today, in March 2026, at a price of $66,73K per Bitcoin, Laszlo Hanyecz’s 10,000 coins would be worth about $667 million.

Originally, the authors of the article predicted that the pizzas would reach a value of $1 billion by 2024, but current Bitcoin prices indicate a value closer to $667 million. Regardless of the exact sum, it is an astronomical increase from the modest $30 in 2010.

Heroes of Web3: The Perspectives of Laszlo Hanyecz and Jeremy

Laszlo Hanyecz has never regretted his decision. Speaking on CBS’s “60 Minutes,” he explained that at that time, Bitcoin seemed more like something from a video game than a real currency. Buying pizza with this technology was exciting and experimental. Moreover, Laszlo Hanyecz mined those bitcoins himself – for him, they were practically free, an investment of only his time and energy.

Jeremy Sturdivant took a different path. Fully aware of the potential for profit, he immediately sold most of his 10,000 bitcoins, converting them into $400 – a tenfold return on his initial investment. Today, he only holds $119 in Bitcoin, but instead of regretting it, he values his role in shaping the early days of Bitcoin’s history.

The Legend We Remember Every Year

Laszlo Hanyecz’s transaction has entered the canon of cryptocurrency history. Every year, on May 22, the Bitcoin community celebrates “Bitcoin Pizza Day” – a reminder of the time when cryptocurrency transitioned from theory to practice. This ordinary pizza exchange has become a symbol of faith in the future of a technology that many people dismissed back then.

The story of Laszlo Hanyecz teaches us about choices, timing, and optimism. Programmer Laszlo Hanyecz chose experience and experimentation over wealth, while Jeremy Sturdivant chose practical gain. Both are heroes of their part of the narrative – one immortalized as the creator of a legend, the other as a witness to the moment that changed everything.