VOL. I · THE HINDSIGHT EDITIONHISTORY LOOKS OBVIOUS AFTER IT HAPPENS. LIFE DOESN’T.SEPTEMBER 2026

Would you have seen it? · Case 014

Investing · Digital currencyMay 2010

Two pizzas for 10,000 bitcoin

The face of a brass Casascius physical bitcoin token dated 2011
A Casascius physical bitcoin token minted in 2011, the year after the pizza trade. Photograph: Tiberiandusk · CC BY-SA 4.0 · Wikimedia Commons File page ↗

A forum user offers 10,000 bitcoin to anyone who will arrange delivery of two pizzas. The network is experimental, liquidity is thin, and proving that the tokens can buy something is part of the point.

  • A commenter estimates the offered bitcoin at about $41 at the time.
  • The recipient must spend ordinary money with the restaurant and accept bitcoin from the buyer.
  • There is no reliable future price and no reason to assume either person will hold the coins indefinitely.
What would you have done?

Evidence ledger

Sources & calculation notes

  1. BitcoinTalk — Pizza for bitcoins? ↗
  2. Blockstream — Transaction a1075db5… ↗