Bitcoin Pizza Day…The $41 experiment becomes a multi-billion dollar history

▲ Pizza and Bitcoin (BTC) ©

Once worth only two pizzas, Bitcoin is now at the center of discussions about international trade and strategic assets. On the 16th anniversary of 'Bitcoin Pizza Day,' the market is evaluating that "the $41 experiment has turned into a multi-billion dollar narrative."

According to the cryptocurrency specialized media Bitcoinist on May 24 (local time), the Bitcoin (BTC) community celebrated the 16th anniversary of 'Bitcoin Pizza Day' on the 22nd. This day commemorates the historic transaction in 2010 when software developer Laszlo Hanyecz paid 10,000 BTC to purchase two Papa John's pizzas. At the time, the value of that Bitcoin was approximately $41, but based on current market prices, it has surpassed $767 million. Notably, when Bitcoin recorded an all-time high of approximately $126,000 in October 2025, the value of 10,000 BTC once exceeded $1.2 billion.

The transaction at the time was not just a simple happening but was evaluated as the first case to prove Bitcoin's potential for real-world use. Nischal Shetty, founder of cryptocurrency exchange WazirX, commented, "This transaction proved that decentralized digital assets could be used in actual commerce." The media explained that at the time, the Bitcoin network processed only hundreds of transactions a day, and payment infrastructure or institutional participation was virtually non-existent.

Sixteen years later, Bitcoin's status has completely changed. The media introduced a case from April this year where Iran announced that ships passing through the Strait of Hormuz could pay tolls in Bitcoin, dollar-backed stablecoins, and Chinese Yuan. This was considered a symbolic scene demonstrating that Bitcoin is expanding beyond a mere investment asset to discussions about international trade payment methods.

However, there are still limitations in terms of actual use. Sam Lyman, Research Director at the Bitcoin Policy Institute, stated that there is no confirmed evidence of oil tolls being paid with Bitcoin on-chain to date. He explained that Tether's USDT stablecoin is still used as the primary means for actual payments.

Within the United States, efforts to institutionalize Bitcoin continue. The media reported that the ARMA bill to promote strategic Bitcoin reserves has been reintroduced, and discussions are underway in some states for tax exemptions on Bitcoin payments. Bitcoinist commented, "The 2010 transaction of two pizzas became the starting point for today's discussions on national reserve assets and international payment systems," adding, "The $41 experiment has now expanded into a global debate surrounding the future monetary order."

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