For Customers Log in
Contact Us

Pizza Day Meaning

Bitcoin Pizza Day is celebrated every year on May 22nd to commemorate the first real-world commercial transaction using Bitcoin. On this day in 2010, a programmer named Laszlo Hanyecz paid 10,000 BTC for two pizzas. At the time, Bitcoin was only a few months old and had no established market price.

This transaction was a proof of concept that proved digital code could be exchanged for physical goods, marking the birth of Bitcoin as a currency.The irony of Pizza Day is the valuation. In 2010, 10,000 BTC was worth roughly $41. Today, that same amount is worth hundreds of millions of dollars, making those two pizzas arguably the most expensive meal in human history.

While some use the story as a cautionary tale about opportunity cost, the crypto community views it as a necessary sacrifice to give Bitcoin its first value. Without people willing to spend their coins, Bitcoin would have remained an experiment with no economic reality.Technically, the transaction wasn't done on-chain at a point-of-sale.

Laszlo posted an offer on a forum, and another user accepted the deal. That user ordered the pizzas using a credit card and had them delivered to Laszlo’s house; in return, Laszlo sent the 10,000 BTC to the other user's wallet.

This was the first manual bridge between the legacy financial system and the blockchain, a process that has since been replaced by automated gateways.Pizza Day has become a cultural holiday in the crypto world. Exchanges and holders around the globe celebrate by eating pizza and reflecting on the industry's progress.

It serves as a reminder of the grassroots origins of Bitcoin-a world where a few enthusiasts were simply trying to figure out if their digital tokens could buy dinner. It is a celebration of adoption over speculation.

← Back to Glossary

Explore our services
Providing liquidity in the cryptocurrency market?
Authorize on our platform and do it smarter with FM Pulse.
pic

FM Marketplace

A reliable and high-performance crypto liquidity marketplace for institutions and businesses.

Learn more
pic

FM White Label

Launch your fully branded B2B crypto trading platform in under one week.

Learn more
pic

FM Liquidity Match

Crypto OTC-as-a-Service infrastructure for enhanced monetization and trade control.

Learn more

Scale your business, leave the hard work of your trading needs to us

Reduce your integration costs and operational risk across multiple access points with our platform

Get started