SAEDNEWS: The astonishing rise in Bitcoin's price has turned the value of two pizzas bought in 2010 for 10,000 Bitcoins into hundreds of millions of dollars, making this event one of the most famous stories in the world of digital currencies.
According to SaedNews, quoting Econo Iran, the two Papa John's pizzas ordered by programmer Laszlo Hanyecz in 2010 for 10,000 Bitcoins have become legendary in the crypto world. With current market prices, these two pizzas cost Laszlo over $978 million.
In a 2019 interview with CBS's 60 Minutes, Hanyecz recounted the event, widely recognized as the first commercial transaction with Bitcoin in history:
"I just posted on the forum. I said, 'If anyone is interested, I will offer 10,000 Bitcoins for some pizza.' Someone there said, 'Hey, I'll take up that offer.' So I sent them the 10,000 Bitcoins, and they paid with their credit card, and the pizza was delivered to my home."
This costly mistake has become a perpetual meme in the crypto community, as Bitcoin's price typically rises dramatically with each cycle — often exponentially.
The Rising Costs of "Pizza Day"
The infamous purchase of the Papa John's pizzas on May 22, 2010, is known in the Bitcoin community as "Pizza Day." On May 22, 2016, the 10,000 Bitcoins Hanyecz spent on the pizzas, which were worth just $41 in 2010, had a value of nearly $4.4 million. Two years later, on Pizza Day 2018, the total value of the 10,000 Bitcoins had surged to about $41 million — a nearly tenfold increase from 2016.
In 2020, Bitcoin's price reached new heights, with the 10,000 Bitcoins having a potential value of over $80 million. Pizza Day 2022 saw this opportunity cost soar to over $300 million. The bear market of 2023 was the first time this trend reversed, with the total value of the 10,000 Bitcoins dropping to about $268 million.
Industry experts now predict that Bitcoin's price will reach $180,000 by 2025, potentially bringing the value of the 10,000 Bitcoins around Pizza Day 2025 close to $2 billion.
