From 10,000 Bitcoin Pizzas to $850+ Million: The Regret That Never Broke a Pioneer's Spirit

The Trade That Changed Everything

When Jeremy Sturdivant earned 10,000 BTC for a simple act of kindness on May 22, 2010, he had no idea he was brokering the first-ever commercial transaction using Bitcoin. Today, with BTC trading at $85.87K, those same bitcoins would be worth approximately $858.7 million—a fortune that makes the two Papa John’s pizzas he facilitated look like pennies from heaven.

But here’s where the story gets interesting: Jeremy didn’t hold onto his windfall. Shortly after receiving the 10,000 BTC payment from Laszlo Hanyecz, he sold them to fund a cross-country road trip with his girlfriend. By today’s standards, that decision ranks among the most expensive personal vacations in cryptocurrency history.

How a 19-Year-Old Created Bitcoin History

The timeline matters. In May 2010, Bitcoin was a novelty—few merchants accepted it, and even fewer transactions had occurred outside of mining. When Laszlo posted on the Bitcointalk forum offering 10,000 BTC for two pizzas delivered to Jacksonville, Florida, it wasn’t necessarily a cry for help. It was an experiment to prove Bitcoin had real-world utility.

For four days, nobody took the bait. That’s when Jeremy, operating under the username “Jercos,” saw an opportunity. A Californian at the time, he picked up his phone, called a Papa John’s restaurant, paid with his debit card, and arranged delivery across the country. The transaction closed with 10,000 BTC landing in his wallet—making him inadvertently famous.

The Math That Haunts (and Doesn’t)

Here’s the jaw-dropping comparison: at the time of the transaction, those 10,000 bitcoins were worth just $41. Within years, they’d be valued at $270 million. Fast forward to today’s BTC price of $85.87K, and the purchasing power becomes almost incomprehensible to most people.

Jeremy himself has acknowledged the sting of timing. In interviews years later, he admitted he “certainly” regrets the quick sale. Yet his philosophy remained surprisingly grounded: “I was thinking about helping a fellow bitcoiner, not making an investment. At the time, I didn’t imagine these would buy real estate someday.”

The Birth of Pizza Day and a Movement

What Jeremy didn’t realize was that his pizza run would spawn an annual celebration. Every May 22nd, the crypto community observes Bitcoin Pizza Day—not as a monument to lost wealth, but as a reminder of the moment Bitcoin proved it could serve as a medium of exchange for tangible goods.

Laszlo, the man who initiated the transaction, also reflected years later: “I mined those bitcoins myself. At the time, it felt like getting free food. Would I have spent $100 million on pizza? No. But maybe Bitcoin wouldn’t be as popular today if I hadn’t done this.”

The Bigger Picture

Jeremy’s perspective shifted from regret to pride. While he can’t claim credit for Bitcoin’s success, he recognized his role in one of crypto’s most pivotal moments—the instant where Bitcoin transitioned from theoretical to practical. The symbolism mattered more than the money he left behind.

Both Laszlo and Jeremy eventually came to terms with their choice. They didn’t dwell on the astronomical sums they could have accumulated. Instead, they focused on what Bitcoin represented: economic freedom, borderless transactions, and proof that new money could work in the real world.

That May 22, 2010 exchange represented a turning point. It wasn’t just about two pizzas or 10,000 BTC. It was about showing the world that cryptocurrency had actual value—something worth celebrating every single year, regardless of whether you’re the person who bought the pizza or sold it.