What is Bitcoin Pizza Day?

Bitcoin Pizza Day marks the first widely recognised commercial use of Bitcoin. On May 22, 2010, developer Laszlo Hanyecz paid 10,000 BTC for two Papa John’s pizzas.

Who received the 10,000 BTC in the Pizza Day transaction?

Jeremy “jercos” Sturdivant received the 10,000 BTC after ordering the pizzas using his credit card. He later said he spent the Bitcoin gradually rather than holding it as a long-term investment.

What did Jeremy Sturdivant spend the Bitcoin on?

Sturdivant said he used the Bitcoin to help fund a cross-country road trip across the United States after running low on money. He explained that he viewed Bitcoin as usable currency rather than a speculative asset.

How much would the 10,000 BTC be worth today?

At Bitcoin’s all-time high near $126,000 in October 2025, the 10,000 BTC would have been worth more than $1.26 billion. Even at current prices near $77,787, the stack would still be valued above $770 million.

Why is the Pizza Day transaction historically important?

The transaction demonstrated that Bitcoin could function as peer-to-peer digital money in a real-world purchase. It became a defining moment in crypto history because it helped prove Bitcoin had practical economic use.

Why did the story resurface in 2026?

The story regained attention after Adam Back reposted a video clip of Sturdivant discussing the transaction. The post reignited debate over whether Bitcoin should primarily be spent or held long term.

What is the debate between spending Bitcoin and holding it?

Some Bitcoin supporters believe BTC should function as everyday digital money, while others argue it should be treated as a scarce long-term store of value similar to digital gold. Sturdivant and Back represent opposite sides of that debate.

Does Jeremy Sturdivant regret spending the 10,000 BTC?

No. Sturdivant said he has no regrets because the transaction was only worth about $41 at the time and reflected Bitcoin’s original purpose as spendable digital cash.

Image for illustrative purposes only. Not a real photo.

Bitcoin Pizza Day recipient says 10K BTC funded road trip

Written by Brie CarterPublished May. 26 2026

Jeremy “jercos” Sturdivant, the recipient of the historic 10,000 Bitcoin Pizza Day transaction, said he spent the coins funding a cross-country road trip across the United States after running short on cash.

Sturdivant received the 10,000 BTC from developer Laszlo Hanyecz on May 22, 2010, in exchange for two Papa John’s pizzas purchased using his credit card, marking the first widely recognised commercial Bitcoin transaction.

The story resurfaced after Adam Back reposted a video clip of Sturdivant discussing the transaction, reigniting debate across the crypto community over whether Bitcoin should function primarily as money or as a long-term store of value.

Sturdivant said he never viewed Bitcoin as an investment asset and instead used it as currency while its value gradually increased over time.

At Bitcoin’s all-time high near $126,000 in October 2025, the original 10,000 BTC would have been worth more than $1.26 billion, while at current prices near $77,787 the stack would still be valued above $770 million.

Back, one of Bitcoin’s most prominent long-term advocates, has consistently argued for holding BTC as a scarce monetary asset, creating a sharp contrast with Sturdivant’s philosophy of spending Bitcoin as functional digital cash.

Sturdivant said he has no regrets about spending the coins, noting the transaction was worth only about $41 at the time and reflected Bitcoin’s early purpose as a usable peer-to-peer payment system.

At the time of reporting, Bitcoin price was $76,619.33.