16th Anniversary Review: The Revolutionary Significance of Bitcoin Pizza Day from 2 Pizzas

In January 2026, we celebrate the sixteenth anniversary of Bitcoin Pizza Day. Behind this seemingly ordinary commemorative day lies one of Bitcoin’s most pioneering stories—a short forum post, a virtual currency transaction, and a moment that forever changed the history of cryptocurrency.

How a Simple Post Changed History

The story begins on May 18, 2010. An American software engineer, Laszlo Hanyecz, posted on an online forum, proposing a bold idea: he was willing to give 10,000 bitcoins to anyone who could deliver him 2 pizzas.

At the time, this proposal didn’t seem out of the ordinary. Hanyecz explicitly stated in his post that he wanted to experience using Bitcoin—this virtual currency—to exchange for real food and delivery services, avoiding the hassle of ordering himself. His idea was simple and pure: to make Bitcoin truly circulate.

Soon, someone responded, noting that at the time, 10,000 bitcoins were worth about $41 on online trading markets, while the market price for 2 pizzas was roughly $25. This implied that Hanyecz was willing to pay a premium for this transaction.

The Mystery of 10,000 Bitcoins

However, a few hours passed, and no one accepted the proposal. By the evening of May 21, the thread remained silent. Hanyecz began to wonder—was his offer of 10,000 bitcoins too low?

Just as everyone thought this story would end without result, a turning point appeared. On the evening of May 22, around 7 p.m., a user named Jercos commented that the transaction had been successfully completed. He had indeed delivered 2 pizzas, and Hanyecz had completed the deal with 10,000 bitcoins.

At this moment, the first real-world physical transaction in Bitcoin history was born. To commemorate this epoch-making moment, May 22 was officially named “Bitcoin Pizza Day” by the cryptocurrency community.

Interestingly, Jercos’ identity remains a mystery to this day. Over the years, the Bitcoin community has been searching for this mysterious figure, with many speculating whether Jercos later sold those 10,000 bitcoins. According to discussions on Reddit, many lament that Jercos probably sold this virtual asset at a very low price.

Circulation Creates Value: The Far-Reaching Impact of Bitcoin Pizza Day

But as everyone says, what truly gives Bitcoin its value is its circulation and use. Imagine if Laszlo Hanyecz had not dared to try—using Bitcoin to buy pizza from Jercos—what would Bitcoin look like today? It might still be just a string of digital symbols stored on tech enthusiasts’ hard drives, with no real value.

It is precisely because someone was willing to put virtual currency into practical use that Bitcoin began to demonstrate its potential as a currency. The significance of Bitcoin Pizza Day far exceeds the transaction of 2 pizzas—it marks the first step of cryptocurrency moving from theory to practice.

From $0.0041 to $89,940

Sixteen years is enough to witness a transformation of an industry. The 10,000 bitcoins that were traded at $0.0041 each, totaling $41, then, today, Bitcoin’s price has surged to $89,940.

In other words, if Jercos had held onto those 10,000 bitcoins instead of selling, their value today would be nearly $900 million. This figure is not just about appreciation—it’s a story about time, faith, and historical choices.

Although Jercos may have sold this asset at a very low price long ago, his decision cannot change one fact: Bitcoin Pizza Day represents the critical moment when Bitcoin moved from nothingness to reality, from concept to commodity.

Bitcoin Pizza Day: An Eternal Memorial of History

Today, every May 22, the global Bitcoin community celebrates Bitcoin Pizza Day. This commemorative day is no longer just a record of a transaction but a symbol of the entire cryptocurrency movement—it reminds us that true innovation comes from pioneers willing to try and adopt new technologies.

From the initial forum post to the story of an asset worth billions today, Bitcoin Pizza Day perfectly illustrates how circulation creates value. Perhaps this is why, even after 16 years, this story continues to be passed down by new generations of crypto enthusiasts.