Commemorating Crypto’s First Real-World Transaction

The current value of those Papa John’s pizzas reflects how much Bitcoin as an asset and a network has grown.

Every May 22, the crypto industry remembers and celebrates a trade that sparked a financial revolution: 10,000 bitcoins (BTC) for two Papa John’s pizzas. That one trade, although trivial at the time, marked the first known real-world transaction using BTC.

Today marks Bitcoin Pizza Day’s 16th anniversary, and it’s a good time to assess how far the digital assets landscape has evolved. But before we get to measuring, let us recap the story of how a man spent thousands of coins, currently worth hundreds of millions of dollars, on two boxes of pizza.

Pizza Day’s 16th Anniversary

The year was 2010 when Floridian programmer and early BTC adopter Laszlo Hanyecz ordered two pizzas from Papa John’s to be delivered to his home. At the time, BTC was worth $0.0041, so the purchase cost Hanyecz $41; however, BTC hit $1 nine months after the transaction, increasing the cost to $10,000.

As it’s more than evident now, BTC did not stop there. Over the following years, the leading digital asset went on to hit an all-time high (ATH) after another. As of 2024, 10,000 BTC was worth $690 million. In 2025, the assets were valued at $1.1 billion, given bitcoin’s price of $111,000 at the time.

It is worth noting that last year’s Bitcoin Pizza Day was celebrated during the bull market, and BTC hit an ATH on that day. At the peak of the bull run in October, BTC surged to $126,200, bringing the value of 10,000 BTC to $1.26 billion.

Unfortunately, this year’s Pizza Day comes at a time when the bears are in control, and bitcoin’s momentum is low. Regardless, the 10,000 BTC from the pizza purchase 16 years ago is currently valued at more than $770 million, per current prices. Data from CoinMarketCap shows BTC trading around $77,360 at press time.

Bitcoin’s Growth in 16 Years

The current value of those Papa John’s pizzas reflects how much Bitcoin as an asset and a network has grown. From adoption to recognition to network development, the asset has come a long way.

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A growing number of vendors and merchants now accept BTC as payment, and the asset is increasingly integrated into modern wealth portfolios and institutional frameworks. The crypto industry has grown alongside Bitcoin, and leading financial networks are jumping on the bandwagon.

Meanwhile, 10,000 BTC could only afford two pizzas 16 years ago, but that is not the case today. With $770 million, one can access multiple luxury items, property, and experiences today.