Money is weird. Honestly, if you really stop to think about the paper in your wallet or the digits on your screen, the whole system feels a bit like a collective fever dream. But nothing highlights the sheer absurdity and brilliance of modern finance quite like what happens every May 22.
May 22 is Bitcoin Pizza Day.
It isn’t a government holiday. You won't get the day off work. Yet, for millions of people in the tech and finance sectors, it’s a day of reflection, celebration, and probably a fair amount of second-hand regret. It marks the first time anyone actually used Bitcoin to buy something physical. It wasn't a sleek piece of hardware or a secret government document. It was two large Papa John’s pizzas.
The $500 Million Lunch
Let’s go back to 2010. Bitcoin was barely a year old. It had no "market price" because nobody was selling it for cash. It was just a weird experiment for hobbyists and cryptographers. A developer named Laszlo Hanyecz, living in Florida, decided he wanted to prove the experiment could work in the real world.
He posted on the Bitcointalk forum: "I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day."
Think about that number. 10,000.
At today's exchange rates, those two pizzas would be worth well over $500 million, depending on the week's volatility. A teenager named Jeremy Sturdivant took the deal. He bought the pizzas with his own credit card for about $25 and Laszlo sent him the 10,000 BTC.
It sounds insane now. You'd be right to call it the most expensive meal in human history. But at the time, those coins were essentially worthless. If Laszlo hadn't made that trade, Bitcoin might have stayed a digital curiosity forever. By putting a price on it—even a price as low as a fraction of a cent—he kickstarted the entire cryptocurrency economy.
Why May 22 is More Than Just a Meme
Business history is full of these "firsts." We remember the first Ford Model T or the first phone call. But Bitcoin Pizza Day is unique because the "price" of that first transaction is updated every single second of every single day.
It serves as a constant, living reminder of two things:
- The power of scarcity.
- The danger of short-term thinking.
Most people look at Laszlo and think, "What a loser." They imagine him crying into his morning coffee every May 22 while looking at the Bitcoin ticker. But he’s actually gone on record multiple times saying he doesn't regret it. He wanted to be the first. He succeeded. Without that transaction, the "number go up" phenomenon people obsess over today might never have started.
There’s a deeper lesson here about how we value things. In 2010, the "utility" of having pizza now was greater than the "utility" of holding onto a bunch of experimental computer code. That’s just basic economics. However, it forces us to ask: what are we holding onto right now that feels worthless, but might be the next 10,000 BTC?
The Global Celebration
Every year when May 22 rolls around, the crypto community goes a bit wild.
Major exchanges like Binance and Coinbase usually run massive promotions. You'll see "Pizza Day" discounts, limited-edition NFTs, and literal pizza parties in tech hubs from San Francisco to El Salvador. In 2024 and 2025, we saw a massive surge in physical pizzerias accepting crypto payments specifically on this day as a nod to the history.
It has become a sort of "Thanksgiving" for the blockchain world. A time to look back at the humble beginnings before the Wall Street suits and the ETFs took over the conversation.
The Irony of the 10,000 BTC
Here is something most people forget: Jeremy Sturdivant, the guy who received the 10,000 BTC, didn't end up a billionaire either.
He spent the coins on travel and video games fairly soon after he got them. He treated them like currency—which was the whole point. This is the great irony of Bitcoin Pizza Day. For Bitcoin to become valuable, people had to use it. But the people who used it early are the ones who missed out on the astronomical wealth that followed.
It’s a classic Catch-22 of finance.
How You Can Participate This May 22
You don’t have to be a crypto-whale to acknowledge the day. In fact, most people use it as an excuse for a cheap dinner and a look at their portfolio.
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- Check for Brand Promos: Look at major pizza chains. While Papa John’s is the "official" pizza of the day due to history, others often jump on the trend with "PIZZA" promo codes.
- Support Local Merchants: If you have a local spot that actually accepts digital currency, May 22 is the day to use it. It keeps the original spirit of the day alive—using it as a medium of exchange, not just a speculative asset.
- Review Your Long-Term Goals: Take five minutes to look at your "experimental" investments. Are you holding something because you believe in the tech, or are you just waiting for a pizza moment?
Actionable Takeaways for the Future
Bitcoin Pizza Day isn't just about a guy who got hungry in 2010. It’s a case study in market psychology. If you’re looking to apply the lessons of May 22 to your own financial life, consider these steps:
1. Don't fear "early use" of an asset. If you use an asset for its intended purpose and it later skyrockets, you haven't "lost." You participated in the creation of its value. Laszlo’s pizzas are the most famous because they were the first, not because he was bad with money.
2. Watch the "Real-World Utility" metrics. When you see a new technology, don't ask what the price is. Ask, "Can I buy a pizza with this?" The moment a digital concept touches the physical world, its risk profile changes completely. That’s where the real opportunity usually hides.
3. Set a "Pizza Fund" for high-risk ideas. Allocate a tiny percentage of your portfolio to things that seem like "worthless" experiments. Maybe it's a new AI startup, a weird biotech penny stock, or a fledgling protocol. Give it ten years. The worst-case scenario? You're out the cost of a couple of pizzas. The best-case? Well, you know the math.
May 22 remains the most grounded day in the digital finance world. It reminds us that behind the complex algorithms and the trillion-dollar market caps, it all started with a hungry guy, a forum post, and a delivery driver who was willing to take a chance on a string of digital code.
Keep an eye on the Bitcoin price as the date approaches. History tends to rhyme, and the market often gets a bit nostalgic when the smell of pepperoni hits the air.
Next Steps for May 22 Preparation:
- Set a calendar alert for May 22 to check major crypto exchange apps for "Pizza Day" rewards or fee-free trading hours.
- Review your current holdings and identify if you are "holding for utility" or "holding for speculation"—knowing the difference can save you a lot of stress during the next market swing.
- If you're a business owner, consider offering a small discount for customers paying in crypto on this day to drive engagement and test your own point-of-sale systems.