The $690 Million Pizza: My Wild Take on Bitcoin's Most Infamous Purchase

Back in 2010, this dude Laszlo Hanyecz did something that still makes me cringe every time I think about it. He spent 10,000 bitcoins on TWO FREAKING PIZZAS! I can’t even wrap my head around it. Those coins would be worth over $690 million today. MILLION! For pizza!

I’ve made some bad financial decisions in my life, but nothing comes close to this level of epic miscalculation. Though to be fair, back then Bitcoin was this weird internet experiment worth practically nothing. It’s easy to judge with hindsight.

What blows my mind is that Hanyecz doesn’t seem to regret it! He claims he was just trying to prove Bitcoin could actually buy real things. Meanwhile, I’m sitting here wondering how anyone sleeps at night knowing they traded a fortune for some dough with tomato sauce.

The whole transaction happened on May 22, 2010, now celebrated as “Bitcoin Pizza Day” by crypto nerds worldwide. Hanyecz posted on some forum offering 10,000 BTC for pizza delivery. Some 19-year-old kid named Jeremy Sturdivant saw the post and thought, “why not?” He ordered two Papa John’s pizzas for about $41 and pocketed the Bitcoin.

Here’s the kicker - Sturdivant didn’t HODL either! He spent his coins on a road trip with his girlfriend. Talk about missed opportunities! If he’d just sat on those coins, he’d be one of the richest people on the planet.

The whole saga perfectly captures crypto’s insane volatility. When the transaction happened, each Bitcoin was worth about $0.004. Now it’s over $69,000. This is why I never know whether to laugh or cry when people talk about crypto “investments.”

Every May 22nd, the crypto world celebrates this monumentally expensive meal with events and promotions. It’s like a holiday commemorating the world’s worst trade deal. But I guess it did prove that Bitcoin could work as actual money, not just some digital novelty.

What’s fascinating is that both guys involved don’t seem bothered by the astronomical opportunity cost. They’re just happy they were part of crypto history. Must be nice to be so zen about leaving hundreds of millions on the table!

The transaction’s real significance goes beyond the money, though. It was the first time Bitcoin jumped from being a tech experiment to something with actual real-world value. Without this pizza purchase, who knows if crypto would have taken off at all?

So next time you’re feeling bad about a financial mistake, just remember the Bitcoin pizza guy. Nothing you’ve done could possibly be that expensive. Unless you also spent future millions on fast food - in which case, I’d like to hear your story!