Key Takeaways
- Laszlo Hanyecz made history on May 22, 2010, by purchasing two Papa John’s pizzas for 10,000 Bitcoin, now worth approximately $1 billion.
- A software developer and early Bitcoin adopter, Hanyecz pioneered GPU mining and made significant contributions to Bitcoin’s early development.
- His infamous pizza purchase is now celebrated annually as Bitcoin Pizza Day, symbolizing the cryptocurrency’s remarkable value transformation.
In what might be the most expensive meal in history, Laszlo Hanyecz transformed two Papa John’s pizzas into a $1 billion transaction that would become legendary in cryptocurrency circles.
On May 18, 2010, Hanyecz posted on the Bitcoin forum asking someone to trade pizzas for 10,000 Bitcoins, which were then worth just $20.50.
JUST IN: Laszlo Hanyecz's decision to sell 10,000 $BTC for two pizzas, cost him $990 million in missed profits. pic.twitter.com/OFEXVh80tW
— Watcher.Guru (@WatcherGuru) November 23, 2024
Four days later, Jeremy Sturdivant accepted the offer, setting in motion a transaction that would become a pivotal moment in cryptocurrency history.
Today, those same 10,000 Bitcoins are valued at over $1 billion, with each individual pizza worth nearly $517 million.
A Pioneer of Bitcoin Technology
Far more than just a pizza purchaser, Hanyecz was a crucial early contributor to Bitcoin’s development.
He created the first code allowing Bitcoin mining using graphics processing units (GPUs), dramatically increasing mining efficiency and helping establish Bitcoin as a viable currency.
Bitcoin was worth less than a penny when Laszlo Hanyecz was trading it for pizza. If he’d held onto all his bitcoin instead, he’d now have hundreds of millions of dollars. He tries not to think about that https://t.co/HcF6DJoCu3 pic.twitter.com/cInuQmv6RO
— 60 Minutes (@60Minutes) May 19, 2019
“I don’t regret it,” Hanyecz said about his famous purchase.
“I’m glad I got to be part of the early history of Bitcoin.”
Via NY Post
Hanyecz’s contributions extended beyond his infamous pizza buy.
He developed software that made Bitcoin mining accessible to more people, including writing code for Apple’s operating system.
This expanded Bitcoin’s reach and helped democratize cryptocurrency mining. The purchase sparked a movement.
May 22 is now celebrated as Bitcoin Pizza Day, with crypto firms and pizza outlets worldwide commemorating the moment.
Today, major companies like Starbucks, Subway, and Burger King accept Bitcoin in various regions.
The Man Behind The Legend
A Florida-based software engineer, Laszlo Hanyecz, remains actively involved in the cryptocurrency community.
He continues to attend Bitcoin conventions, events, and podcasts, maintaining his connection to the technology he helped develop.
🚨 BITCOIN HITS $100K 🚨
— Hedgeye (@Hedgeye) December 5, 2024
Meet Laszlo Hanyecz, the legend who traded 10,000 BTC for 2 pizzas in 2010. 🍕
Back then, his Bitcoin bought $40 worth of pizza.
Today, that same Bitcoin is worth $1 BILLION. 💸
Each bite is now worth millions.#Bitcoin pic.twitter.com/PX2dEeCnaj
Despite popular narratives suggesting Hanyecz spent all his Bitcoin, experts believe he likely retained significant cryptocurrency holdings.
His early mining capabilities allowed him to generate thousands of coins daily, and his technical expertise likely provided multiple lucrative opportunities in the blockchain industry.
Hence, his net worth might be higher than we have imagined!
In Case You Didn’t Know
- Laszlo Hanyecz mined thousands of Bitcoins per day during the cryptocurrency’s early years.
- He made Bitcoin mining possible using graphics cards, exponentially increasing mining efficiency.
- His purchase is considered the first real-world transaction using cryptocurrency.
