Bitcoin Pizza

Bitcoin Pizza refers to the well-known Bitcoin transaction on 22 May 2010 involving the purchase of two pizzas for 10,000 BTC. Specifically, Laszlo Hanyecz, an early Bitcoin adopter, purchased two Papa John’s pizzas for 10,000 BTC from a fellow Bitcoin forum member. This purchase equated to about US$40 in 2010, but it was very unusual to make a purchase with BTC during that time.

Since then, the cryptocurrency community has used Bitcoin Pizza as a metric to track how far Bitcoin has evolved in terms of price and market capitalisation, and 22 May is now celebrated as ‘Bitcoin Pizza Day’. When BTC’s price hit its all-time high (ATH) in March 2024, the two pizzas would have been worth north of US$730 million.

Key Takeaway

Bitcoin Pizza refers to the well-known Bitcoin transaction in 2010 involving the purchase of two pizzas for 10,000 BTC.

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