OKX Blockchain 60 Lessons | Episode 38: Bitcoin Pizza Day

Hello everyone, this is Xiao K. Today we're going to talk about: "Bitcoin Pizza Day."

You might be wondering: as a virtual currency, how did Bitcoin originally get its price, and how did it prove that it had "real value"? To answer this question, we need to look at two important dates—one being the first time Bitcoin was priced, and the other being Bitcoin Pizza Day.

In fact, after Bitcoin was born in 2009, it remained without a price for a long time. At that point in history, the concept of cryptocurrency faced considerable skepticism across society, and only a small number of tech enthusiasts, drawn to Bitcoin's philosophy, participated in Bitcoin mining.

Bitcoin was truly given a price in January 2010. On the Bitcoin Talk forum, an early Bitcoin community, a user named "dwdollar" expressed interest in creating a brand-new marketplace with Bitcoin as a commodity, where people could freely buy and sell Bitcoin. So on March 17, 2010, the first cryptocurrency exchange was born, with Bitcoin's initial price set at $0.003—this was the first time Bitcoin had a uniform price.

However, a price alone couldn't demonstrate Bitcoin's intrinsic value. What truly showcased Bitcoin's payment function was a social experiment that took place two months later, which later became known as the famous Bitcoin Pizza Day.

Let's go back to May 18, 2010. Still on the Bitcoin Talk forum, a programmer named Laszlo posted that he wanted to buy pizza with Bitcoin. Here's what he said: "I want 2 large pizzas, hoping to exchange them for 10,000 Bitcoin. The pizza can be purchased from a store or made at home. But I need you to deliver the pizza to my doorstep, like a hotel room service—I don't want to prepare or buy it myself. I like onions, peppers, sausage, and mushrooms—no weird fish pizza!"

Unfortunately, the post didn't generate much buzz. In fact, it took 6 hours before the first reply appeared. Over the next 3 days, people stopped by to look, but very few asked for his address. Most of the comments were skeptical or mocking. Even Laszlo himself began to doubt, asking: "Is no one willing to buy me pizza because I'm offering too few Bitcoin?"

It wasn't until 5:17 PM on May 22, 2010—after 4 days of waiting—that Laszlo finally posted about a successful trade. He said: "I just want to let everyone know that I successfully traded 10,000 Bitcoin for two pizzas, thanks jercos!" and attached a photo of the pizza.

This became the first real-world trade in Bitcoin's history. From then on, Bitcoin's price only went up. To commemorate this day, May 22nd of every year was designated as "Bitcoin Pizza Day."

Even though, based on Bitcoin's all-time high price, those two pizzas would be worth $160 million—making them the most expensive pizzas in history—this transaction is what truly demonstrated Bitcoin's value and completed Satoshi Nakamoto's vision of a "peer-to-peer electronic cash system."

Disclaimer

This article may contain product-related content that does not apply to your region. This article is only intended to provide general information and makes no representation as to the accuracy or completeness of any facts presented. The views expressed herein are solely those of the author and do not represent the views of OKX. This article is not intended to provide any advice, including but not limited to: (i) investment advice or investment recommendations; (ii) offers or solicitations to buy, sell, or hold digital assets; or (iii) financial, accounting, legal, or tax advice. Holdings in digital assets (including stablecoins) involve a high degree of risk and may fluctuate significantly, or even become worthless. You should carefully consider whether trading or holding digital assets is appropriate for you based on your financial situation. For questions specific to your circumstances, please consult your legal/tax/investment professional. The information contained herein (including market data and statistics, where applicable) is provided for general reference purposes only. Although we have taken all reasonable precautions in preparing such data and charts, we make no representations as to the accuracy or completeness of any facts expressed herein and accept no liability. © 2025 OKX. This article may be reproduced or distributed in its entirety, or excerpted in quantities of 100 words or less, provided that such use is for non-commercial purposes. Any reproduction or distribution of the full article must also prominently state: "This article is copyrighted © 2025 OKX, used with permission." Permitted excerpts must cite the article's title and include attribution, for example: "Article title, [author name (if applicable)], © 2025 OKX." Some content may have been generated or assisted by artificial intelligence (AI) tools. Derivative works and other uses of this article are not permitted.

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