Calculate what 10,000 BTC spent on pizza in 2010 would be worth today. Explore your own Bitcoin opportunity cost for any purchase.
May 22, 2010 — Laszlo Hanyecz
10,000 BTC spent on 2 pizzas is now worth
$0
Original Cost
$41
BTC Spent
10,000 BTC
Cost Per Pizza
$0
Pizzas Bought
2 🍕
What if you'd bought Bitcoin instead of that purchase?
If you'd bought Bitcoin instead of Purchase on 2015-01-01:
You Spent
$100.00
BTC You'd Own
31,821,798 sats
Worth Today
$0.00
Multiplier
How many $20 pizzas could 1 BTC buy each year?
From $41 to billions — the most expensive pizza in history
Laszlo Hanyecz posts on BitcoinTalk offering 10,000 BTC for two large pizzas delivered to his home in Jacksonville, Florida.
Jeremy Sturdivant (jercos) accepts the offer. Two Papa John's pizzas are delivered. The 10,000 BTC was worth approximately $41 at the time.
Bitcoin reaches $1 for the first time, making the pizza purchase worth $10,000.
Bitcoin surpasses $1,000. The pizza BTC is now worth $10 million — the most expensive pizza in history.
Bitcoin reaches its then all-time high of ~$20,000. The pizza is valued at $200 million.
Bitcoin reaches $69,000. The two pizzas are now worth approximately $690 million.
Bitcoin sets a new all-time high above $73,000. The pizza BTC surpasses $730 million.
Bitcoin breaks through $100,000 for the first time. The pizza transaction is worth over $1 billion.
Blow your friends' minds with the pizza math 🍕
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Step 1
The hero card at the top shows the real-time value of the original 10,000 BTC that Laszlo Hanyecz spent on two Papa John's pizzas on May 22, 2010. This transaction — worth roughly $41 at the time — is widely considered the first real-world Bitcoin purchase. The calculator multiplies 10,000 BTC by the current live Bitcoin price to show exactly how much those two pizzas would be worth today.
Step 2
Enter the amount you spent, select the date of the purchase, and optionally name the item. The calculator looks up the historical Bitcoin price on that date and shows how much BTC you could have bought instead, what that Bitcoin would be worth today, and the total profit missed. Try different dates to see how timing dramatically affects opportunity cost.
Step 3
The Bitcoin Pizza Index shows how many $20 pizzas one Bitcoin could buy each year. In 2010, 1 BTC couldn't even buy a single slice. By 2021, one Bitcoin could purchase over 2,300 pizzas. This area chart uses yearly average prices to show Bitcoin's purchasing power growth over time.
Step 4
The timeline tells the complete story of the Bitcoin pizza transaction, from Laszlo's original BitcoinTalk forum post on May 18, 2010, through to Bitcoin surpassing $100,000 in 2025. Each milestone tracks how the value of those 10,000 BTC grew over the years.
Step 5
Bitcoin Pizza Day (May 22) is celebrated annually as the anniversary of the first known commercial Bitcoin transaction. It proved that Bitcoin could function as actual money. Today, the calculator helps you apply the opportunity cost lesson to your own financial decisions, showing the real cost of spending versus holding Bitcoin.
Everything you need to know about Bitcoin Pizza Day and opportunity cost
Learn More
The Bitcoin Pizza Day Story: From $41 to Billions
The complete history of the 10,000 BTC pizza transaction and what it teaches us about opportunity cost
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This calculator is for educational and entertainment purposes only. Opportunity cost calculations are hypothetical and based on historical Bitcoin prices. Past performance does not guarantee future results. This is not financial advice.