Definition: Bitcoin pizza

On May 22, 2010, Laszlo Hanyecz of Jacksonville, Florida bought two pizzas for 10,000 bitcoins, which were worth about $40 at that time. Considered the first online cryptocurrency transaction, Hanyecz wanted to find out if bitcoins really had value.

After posting the offer in an online forum to trade bitcoins for pizza, 18-year-old Jeremy Sturdivant from Santa Cruz, California accepted the deal and had two pizzas from Papa Johns in Jacksonville delivered to Hanyecz. Neither party in the transaction held their crypto very long. Hanyecz spent nearly 100,000 bitcoins for pizza that year, and after the price started to climb, Sturdivant sold his 10,000 bitcoins for approximately $400.

May 22 - Bitcoin Pizza Day
Had Hanyecz held on to his crypto, he would have become a billionaire fifteen years later. Nevertheless, Hanyecz became famous, and May 22 is now known as "Bitcoin Pizza Day!" See Bitcoin and hodling.

Millions a Slice!

We hope Hanyecz thoroughly enjoyed his pizza because had he kept the bitcoins, the equivalent of each slice would have been worth millions later on. (Image courtesy of Wawa, Inc.)