The Most Expensive Pizza Ever Bought
Imagine ordering a couple of pizzas for a night in, only to find out years later that you’ve just made the most expensive dinner purchase in history. This is exactly what happened in 2010 when a programmer named Laszlo Hanyecz forked over 10,000 Bitcoins for two Papa John’s pizzas. Back then, Bitcoin was just a fun, new experiment—today, it’s one of the most valuable assets on the planet. So, how did two pizzas, once worth about $41, end up costing Hanyecz nearly a billion dollars? Let’s take a look at the infamous “Pizza Day” that still gets talked about in crypto circles.
Bitcoin’s First-Ever Real-World Transaction
In May 2010, Bitcoin was still a niche hobby for cryptographers and tech enthusiasts, and very few people believed it had any real-world value. But then, Laszlo Hanyecz—who was deeply involved in Bitcoin’s early development—posted a simple offer on a Bitcoin forum: “10,000 BTC for two pizzas.” At the time, Bitcoin was still in its infancy, and 10,000 BTC was worth… around $41 USD. A fellow forum member took him up on the deal, ordered the pizzas, and used a credit card to pay. And just like that, Bitcoin had its first commercial transaction. Hanyecz got his pizzas, and the crypto world got its first taste of real-world value. Little did they know, that small transaction would go down in history.
From Pizza Day to Billion Dollar Mistake
Today, 10,000 Bitcoins is no small chunk of change. In fact, it’s practically a fortune. If we fast-forward to the present day, those same 10,000 BTC are worth a jaw-dropping $978 million, based on current Bitcoin prices. That means the two Papa John’s pizzas Laszlo Hanyecz bought for $41 back in 2010 have cost him nearly a billion dollars in opportunity. Yikes! It’s the kind of story that’s become a cautionary tale for Bitcoin “hodlers” (those who hold onto their Bitcoin for the long term) and an enduring meme within the crypto community.
Pizza Day: Celebrating (or Cringing) at the Price of the Past
Every year, Bitcoin enthusiasts mark May 22nd as “Pizza Day,” a bittersweet celebration of Bitcoin’s first-ever purchase. It’s a chance to reflect on how far the cryptocurrency has come since that humble pizza deal—and to remember the true cost of those two cheesy pies.
Let’s take a look at how the value of those 10,000 BTC has evolved over the years:
- 2016: Just six years after the deal, those 10,000 BTC, which were still worth only $41 in 2010, had ballooned to around $4.4 million. That’s a pretty sweet return on an $41 investment—if only Laszlo had hung onto his coins.
- 2018: By Pizza Day 2018, Bitcoin’s value had surged even higher. The same 10,000 BTC were now worth an eye-popping $41 million—an increase of almost 10 times in just two years. As you can imagine, that’s when the “Pizza Day” meme really started picking up steam in the crypto world.
- 2020: Bitcoin hit a new all-time high, and those 10,000 BTC reached a staggering value of $80 million. At this point, the “Pizza Day” joke wasn’t so funny anymore, especially for Laszlo.
- 2022: The price of Bitcoin continued to climb, pushing the opportunity cost of Laszlo’s pizza purchase to a monstrous $300 million. By this time, the meme had cemented itself as a symbol of what happens when you part with your crypto too early.
- 2023: For the first time, Bitcoin’s price took a dip during the bear market. On Pizza Day 2023, the 10,000 BTC were worth around $268 million—still a mind-boggling sum but less than the highs of previous years.
The Future: Will Bitcoin Hit $1 Million (or More)?
Crypto analysts are already making bold predictions for the future of Bitcoin. With the increasing institutional adoption of Bitcoin, along with a potential massive surge in demand, experts are forecasting that Bitcoin could reach as high as $180,000 per coin by 2025. If this happens, those 10,000 BTC Laszlo spent on pizzas could be worth close to $2 billion. Yes, you read that right—billion, with a B.
For Laszlo, the memory of Pizza Day will always be bittersweet. But for the rest of the crypto world, it’s a reminder of the power of holding onto your assets and the sometimes painful lessons learned in hindsight. It’s also a great excuse to grab a pizza and reflect on the incredible rise of Bitcoin!
The Meme That Won’t Die
The story of the two Papa John’s pizzas is one of the most iconic tales in the history of cryptocurrency. It serves as a warning to all those who are tempted to part with their Bitcoin too soon—and as a reminder that in the world of crypto, anything can happen. From an affordable pizza night to the possibility of a $1 billion mistake, Laszlo Hanyecz’s purchase has cemented its place in crypto lore. So, the next time you’re about to order a pizza, you might want to think twice. Who knows—your next meal could cost you billions!
