Bitcoin Pizza Day 2026: 10,000 BTC valued at $777.9M

On May 22, 2026 the 10,000 Bitcoin that Laszlo Hanyecz spent on two Papa John’s pizzas in 2010 had a market value of $777.87 million, down $328 million, or 29.7%, from $1.106 billion on May 22, 2025. The decline is the largest one-year dollar drop in the Pizza Day series of valuations.

Bitcoin traded near $77,787 on Pizza Day 2026. That compares with $110,568 on May 22, 2025 and an intrayear high of $126,000 on October 6, 2025. Prices fell after a major policy announcement on October 10, 2025 that pushed Bitcoin from roughly $122,000 to about $107,000.

The first quarter of 2026 was the weakest opening quarter for Bitcoin since 2018, with the token closing Q1 down 22.2%. Spot Bitcoin exchange-traded funds recorded net outflows of about $496.5 million during the period amid geopolitical tensions. The second quarter saw partial recovery, with Bitcoin up about 14% for the quarter, but the year-to-date result remained negative at the May 22 anniversary.

Hanyecz’s 2010 purchase is the first widely documented real-world Bitcoin transaction. Pizza Day valuations have fallen in six of the 16 anniversaries tracked; 2026 represents the largest absolute dollar decline across those years.

Since the October 2025 peak, trading has been choppy and sensitive to macroeconomic and regulatory news. ETF flows, institutional activity and shifts in risk appetite affected liquidity and price direction over the past 12 months.