The first notable real-world purchase with Bitcoin was on May 22, 2010, when programmer Laszlo Hanyecz paid 10,000 BTC for two pizzas, an event celebrated as "Bitcoin Pizza Day". Hanyecz, a Florida-based programmer, offered the cryptocurrency on a forum for someone to order pizzas from Papa John's, and another user accepted, marking the first documented exchange of Bitcoin for physical goods.
A Milestone on a Milestone
The new all-time high comes exactly 15 years after Laszlo Hanyecz, an early adopter and miner, made what is widely regarded as the first purchase of physical goods with Bitcoin. On that day in 2010, he paid 10,000 BTC for two pizzas—valued at around $41 at the time.
Laszlo Hanyecz, a programmer and early Bitcoin miner, famously traded 10,000 Bitcoin for two Papa John's pizzas on May 22, 2010, marking the first documented commercial transaction for physical goods with cryptocurrency, a day now celebrated as "Bitcoin Pizza Day". At the time, the Bitcoins were worth only about $41, but the value of those coins would later grow to be worth hundreds of millions, even over a billion dollars, making it one of history's most expensive pizzas.
Bitcoin has been a high-performing asset
Despite extreme volatility, Bitcoin's price has skyrocketed 1,060% in the past five years as I write this. This monster gain would've turned a $10,000 initial capital outlay in October 2020 to a whopping $115,700 on Oct. 6.
Key Takeaways. The IRS treats cryptocurrency as property, meaning that when you buy, sell or exchange it, this counts as a taxable event and typically results in either a capital gain or loss. When you earn income from cryptocurrency activities, this is taxed as ordinary income.
Bitcoin's price finally broke through the US$1 mark in 2011, and moved as high as US$29.60 that year. However, in 2012 Bitcoin pulled back and remained relatively muted. Bitcoin's price saw its first significant growth in earnest in 2013, the year it broke through both US$100 and US$1,000.
The 10,000 bitcoin that software developer Laszlo Hanyecz paid for two Papa John's pizzas delivered to his Florida home on May 22, 2010, were worth about $41 at the time. Today they're worth $1.1 billion, as bitcoin hits record high prices.
If Nakamoto is an individual person, then his bitcoin holdings make him one of the world's wealthiest people. His wallet, which has been untouched since 2010, holds an estimated 1.1 million bitcoins. At their July 14, 2025 price of more than $123,000 each, these were worth nearly $135 billion.
A programmer named Laszlo Hanyecz famously bought two pizzas with 10,000 Bitcoin on May 22, 2010, marking the first real-world commercial use of the cryptocurrency, a day now celebrated as "Bitcoin Pizza Day". At the time, the Bitcoin were worth around $41, but today that amount would be worth hundreds of millions, making it arguably the most expensive pizza purchase ever, though Hanyecz has stated he has no regrets, as it demonstrated Bitcoin's utility.
About 480–500 million people now own Bitcoin globally. Fewer than 1 million wallets hold 1 BTC or more. Around 150,000 wallets hold 10 BTC or more. Owning 0.1 BTC already puts you in the top 10% of Bitcoin holders.
As of June 2, 2025, 0.01 Bitcoin (BTC) is valued at approximately $1,042.48 USD, based on the current BTC price of $104,248. Various analysts and institutions have provided forecasts for Bitcoin's price in 2030: CoinCodex: Projects a range between $136,962 and $308,966.
Like any digital asset, bitcoin and other cryptocurrencies are vulnerable to hackers and pump-and-dump scams. Knowing how to store your crypto investments can help reduce the chance of theft. Investors should consider storing crypto either with a trusted custodian or in a cold wallet.
In the U.S., crypto is considered a digital asset, and the IRS treats it generally like stocks, bonds, and other capital assets. Like these assets, the money you gain from crypto is taxed at different rates, either as capital gains or as income, depending on how you got your crypto and how long you held on to it.
Design Philosophy: Satoshi Nakamoto, Bitcoin's creator, set the 21 million cap to create scarcity, positioning Bitcoin as "digital gold" and a hedge against fiat currency inflation. This limit is hardcoded into Bitcoin's system, ensuring no more than 21 million bitcoins can exist.