In the year The two Papa John’s pizzas ordered in 2010 are now close to a $1B error.

In the year The two Papa John's pizzas ordered by programmer Laszlo Haniecz for 10,000 bitcoins (BTC) in 2010 have become very famous in the crypto world. At current market prices, those two pizzas cost Laszlo more than $978 million.

In the year In a 2019 interview with CBS's 60 Minutes, Haniek described the event – widely considered to be the first commercial Bitcoin transaction in history:

“I posted on the forum. You know, if anyone is interested, I'll offer 10,000 bitcoins in exchange for a pizza.” Someone there said, ‘Hey, I'll take you up on that offer,' so I sent him 10,000 bitcoins on his credit card, and my pizza showed up at my door.

Haniecz's costly mistake has become a constant memory in the crypto community as Bitcoin's price rises with each cycle – often growing by an order of magnitude or so each time.

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The rising cost of pizza day

In the year The infamous Papa John's purchase that occurred on May 22, 2010 is known as ‘Pizza Day' to the Bitcoin community.

In the year On May 22, 2016, 10,000 BTC spent by Hanyekz on a pizza was worth $4.4 million, compared to just $41 in 2010.

Two years later, on Pizza Day 2018, the total value of 10,000 BTC rose to about $41 million – roughly a 10-fold gain since 2016.

In the year In 2020, the price of Bitcoin reached a new high and 10,000 BTC carried an opportunity cost of more than $80 million. Pizza Day 2022 increased that opportunity cost significantly to more than $300 million.

The 2023 bear market was the first time this trend reversed, with the total value of 10,000 BTC falling to $268 million at that time.

Industry executives and analysts predict a Bitcoin price target of $180,000 by 2025, which could bring the 10,000 BTC opportunity to around $2 billion by Pizza Day 2025.

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