Bitcoin has reached a record price high. It has done so on the anniversary of one of the most pivotal moments in its history. We discuss this in the article below.
On May 22nd, 2025, a milestone in the story of Bitcoin was reached. It marked the 15-year anniversary of Bitcoin Pizza Day. This was when Laszlo Hanyecz ordered two Papa John’s pizzas in exchange for cryptocurrency. His payment was an astounding 10,000 BTC. At the time, these pizzas came to the fiat sum of $41.
What is Bitcoin Pizza Day?
The year this took place was also a crucial one for the currency. Bitcoin started the year being worth $0.001 and grew throughout the period to reach $0.29 at the end of the year. Fifteen years on, the currency has reached a new high, climbing over the $111, mark. The Bitcoin price okx have provided shows this has now stabilized at around $110826. However, with changing macroeconomic conditions and more US states setting up Bitcoin reserves, many are conceivably predicting it could reach $250,000 by the year’s end and even go further.
Bitcoin Pizza Day is important as it marks the moment when one of the first real-world transactions was documented, in which Bitcoin was accepted as payment for services or goods. Hanyecz had asked on a Bitcoin forum created by the founder of Bitcoin, Satoshi Nakamoto if anyone would accept his 10,000 BTC for food. Specifically, he asked for two large pizzas so he had some food left over for the next day. His requests were that he liked mushrooms, sausages, tomatoes, pepperoni, onions, and peppers. He also asked for people not to make weird things like fish toppings.
A user on the forum named Jeremy Sturdivant then responded to him. He purchased the pizzas from Papa John’s and sent them to Hanyecz’s address. By no means was the transaction a swift one. The discussion had taken a few days, with some users on the forum citing the fact that he had paid too high a price. Others had struggled to order him a pizza as they were based outside the United States.
Hanyecz was a Bitcoin developer from the early days. He was one of the first people to become involved in GPU mining. What is telling about the transaction is that it highlights Bitcoin’s original purpose: To be a cashless, digital currency that could be used for payments with centralization and the need for intermediaries.
This original concept now seems like a pipedream. The price of Bitcoin has risen so high, it is now a major investment tool and it seems unlikely it will ever be used for mainstream purchases again.
Recent levels have been helped by a perfect storm of events. This has included a change in the US to a pro-cryptocurrency authority. The government and individual states are now setting up a federal reserve based on Bitcoin, ushering in a new era. Added to this have been changes in global economic conditions, such as renewed trade pacts and a weakening of sanctions.
Who Bought the Bitcoin Pizzas?
At the time, Jeromy Sturdivant was only 19 years old. He has since been quite open about the event and has said that he knew it was a historical moment. If he had not done it, someone else would have.
There are conflicting accounts about what he did with his Bitcoin. Some claim he spent it when it was worth around $400. Others have said he spent all the cryptocurrency to go on a backpacking trip.
This was not the end of Hanyecz and his pizza buying fascination either. Since 2016 he has bought pizzas numerous times in Bitcoin, to showcase various things. Between April and August 2010, he spent over 79,000 BTC on items including pizzas. Today, that money would be worth 8.7 billion. He also has no regret about any of the purchases, saying “This transaction made Bitcoin real in my eyes“
How Much Would the Bitcoin Pizzas Be Worth Today?
In today’s exchange rates, those pizzas would have cost around $1.1 billion. This could purchase over 70 million pizzas. The price over time shows some interesting trends, mainly highlighting the inherent volatility of Bitcoin all around. By 2016, the price of Bitcoin had risen by 25,235% to $439. In 2018, it was worth $8355. This had climbed to $37,340 by 2021.
However, the biggest price increase has been seen between 2024 and 2025. In this period, it is up 59% and has gone from $70,190 all the way to over $111,000.
While it is increasingly being used in financial circles as an investment tool and being incorporated into mainstream finance, we are still some way from using cryptocurrency for everyday items. It now seems much more likely a tokenized asset, such as a stablecoin, will be the first to do this. However, it can only mean that the future looks strong for crypto and at its head, Bitcoin.
