The Guy Who Bought Pizza With Bitcoin: Why Laszlo Never Looked Back

On May 18, 2010, a programmer named Laszlo posted an unusual request on the Bitcoin forum. He was offering 10,000 Bitcoin—then worth approximately $30—to anyone willing to bring him two large pizzas. Little did anyone know that this moment would become one of crypto’s most legendary stories: a guy buying pizza with bitcoin in a transaction that would eventually be worth hundreds of millions of dollars.

A $260M Pizza Purchase That Changed Everything

Four days after posting his bounty, Laszlo returned to announce success. He had his pizzas, and bitcoin had its first proof of utility. What started as a casual transaction between two early enthusiasts became “Bitcoin Pizza Day,” celebrated annually on May 22 by the entire cryptocurrency community.

The historical weight of this moment cannot be overstated. At the time, Bitcoin existed primarily as lines of code—a fascinating experiment that few believed had real-world applications. Skeptics questioned whether digital currency could ever function as actual money. By accepting bitcoin as payment for pizza, Laszlo and the pizza seller proved the doubters wrong. Bitcoin wasn’t just theoretical; it could facilitate real transactions.

When Bitcoin’s price later soared to over $260 million for those 10,000 coins by 2025, people expected Laszlo to be tormented by regret. Yet he remained remarkably at peace with his decision. “I earned pizza by contributing to open source projects,” he reflected years later. To him, this wasn’t a missed fortune—it was the natural outcome of a hobby he loved.

Laszlo’s Historic Bitcoin Experiment

Laszlo wasn’t an accidental early adopter fumbling through unknown territory. He was a programmer deeply embedded in Bitcoin’s origins, present from the protocol’s earliest days when Satoshi Nakamoto’s vision was still being tested. More significantly, Laszlo pioneered GPU mining—a breakthrough that allowed more people to mine bitcoin efficiently. He quickly accumulated tens of thousands of coins through his technical innovations.

According to blockchain analysis from OXT, Laszlo’s wallet peaked at over 43,000 BTC in June 2010, just weeks after the pizza transaction. The 10,000 coins spent on pizza were quickly replenished through continued mining. This detail reveals the abundance he experienced in bitcoin’s infancy—a time when computing power could still generate substantial coins.

Rather than viewing the pizza purchase as frivolous, Laszlo saw it as validation. For someone whose hobby had generated wealth (however ephemeral that wealth appeared), converting some of it into pizza represented a natural cycle. As he put it, “I felt like I won the Internet that day.” He continued to spend bitcoin actively, eventually depleting over 100,000 coins—worth over $4 billion by later valuations—on various transactions and expenses.

What’s striking is Laszlo’s deliberate low-profile approach to his bitcoin legacy. He never monetized his early access or contributed to the speculation frenzy that later engulfed crypto markets. Remaining largely anonymous and keeping bitcoin as a hobby rather than a career, he contributed to Bitcoin Core development and GPU mining on MacOS without seeking recognition. “I didn’t want to draw that attention,” he explained years later, “and I certainly didn’t want people to think I was Satoshi.”

Jeremy’s Stake in Crypto History

The pizza seller, Jeremy Sturdivant, was himself an early bitcoin enthusiast—a 19-year-old Californian who had been mining and using bitcoin since 2009. He wasn’t a merchant stumbling upon an odd transaction; he was a believer actively participating in the emerging ecosystem.

When Jeremy received Laszlo’s 10,000 bitcoin, he saw opportunity differently than speculators might have. Rather than hoarding coins in hopes of future wealth, Jeremy used them to fund travel with his girlfriend—experiences he valued more than portfolio growth. Years later, when asked if he regretted spending coins that would eventually be worth hundreds of millions, Jeremy’s answer mirrored Laszlo’s: no regrets whatsoever.

His reasoning was pragmatic: the $400 in cash he received for that transaction at the time represented real value to a teenager in 2010. If those coins had later appreciated tenfold (which they did, many times over), he still wouldn’t regret trading them for immediate utility and joy. “The transaction was a good deal,” he reflected, choosing experiences over speculation.

When Pizza Became Legendary

The Bitcoin Pizza Day narrative transcends a simple transaction. It represents a cultural milestone—the moment when Bitcoin transformed from theoretical technology into functional currency. Every May 22, the crypto community celebrates this event, recalling a time when bitcoin’s value was measured not in future speculation but in present utility.

The pizza purchase also embodies a broader truth about bitcoin’s early ecosystem: it was driven by idealists and builders rather than financial engineers. Laszlo contributed Bitcoin Core improvements and pioneered GPU mining. Jeremy actively participated in using bitcoin as currency. Neither were motivated by getting rich quick; they were driven by technological curiosity and genuine belief in decentralized systems.

Bitcoin Magazine, reflecting on the anniversary, emphasized that Laszlo’s contributions extended far beyond the pizza meme. His work on Bitcoin Core and GPU mining made the network more accessible and efficient. Yet the pizza story endures precisely because it’s more relatable than technical achievements. It anchors cryptocurrency in human experience—in the simple act of trading value for something delicious.

Today, as bitcoin has matured into a trillion-dollar asset class, the 2010 pizza transaction reads like a creation myth. Two young enthusiasts, one with technical expertise and one with willingness to participate, proved that decentralized digital money could work. They asked no permission, sought no venture capital approval, and expected no fortune. They got pizza, a place in history, and zero regrets. That’s the story that the cryptocurrency community still celebrates each May 22.