The story of Laszlo Hanyecz: how 10,000 BTC became a Bitcoin legend

Laszlo Hanyecz will forever be etched into cryptocurrency history thanks to a single transaction that changed the way we see Bitcoin. Back then, in the early days of digital currency, Bitcoin had almost immeasurable value—just a few cents per coin. At that time, Hanyecz decided to do something that would later become one of the most famous moments in crypto history.

The Origin of the Most Famous Transaction

On the Bitcoin forum, Hanyecz posted an unusual offer: 10,000 BTC in exchange for two pizzas. Another user quickly accepted and ordered food from Papa John’s, which was delivered to Hanyecz’s Florida residence. Using a simple command-line wallet, Hanyecz transferred the coins, fully unaware that he was executing the first real commercial Bitcoin transaction on the planet.

At the time of the exchange, the total value of these 10,000 BTC was just $25. It was an ordinary transaction without much fanfare—perhaps just two pizzas, which promised practical use for Bitcoin.

From Pennies to Astronomical Values

Time gradually revealed the true worth of Hanyecz’s choice. Those 10,000 BTC, which once bought only two pizzas, would today be worth hundreds of millions of dollars. With Bitcoin’s current price fluctuating around $77,750 per coin, the total amount reaches approximately $777 million—clearly illustrating how dramatically the value Hanyecz once casually exchanged has increased.

This transaction became a symbol of Bitcoin from its early days, when it was financially out of reach but full of potential. Little did anyone know at the time that these very pizzas would become a commodity worth billions.

Annual Remembrance of Bitcoin

Today, May 22nd, is globally commemorated as Bitcoin Pizza Day—the day when Hanyecz and his transaction became legendary. It’s about jokes, memories, and the symbolism of those first experiments with digital currency, which now dominates modern finance.

The question that occasionally arises—and remains permanent—is: could Hanyecz ever truly forgive himself? Many people cannot imagine what he felt when he realized the value those pizzas represented. Yet, without pioneers like Hanyecz, cryptocurrencies wouldn’t be where they are today—recognized by millions worldwide and on the brink of legal acceptance as a means of exchange.

His gift to the blockchain world lies in simplicity: he proved that Bitcoin is not just theory but a real tool for exchanging value. Without such faith in the early days, cryptocurrencies might never have embarked on the journey they are on today.