Jeremy Sturdivant and the Lesson of a Million-Dollar Mistake: The Bitcoin Pizza Story

In May 2010, a 19-year-old Californian named Jeremy Sturdivant could have had great luck — but the story ended differently. When he saw someone willing to pay 10,000 Bitcoins for two pizzas, Jeremy decided to facilitate the transaction. This decision would lead to one of the most iconic stories in Bitcoin history, but for Jeremy himself, it brought both pride and regret.

The Birth of Bitcoin Pizza Day

The story begins when Laszlo Hanyecz asked on the Bitcointalk forum if anyone was willing to deliver two large pizzas to Jacksonville, Florida — in exchange for 10,000 BTC. At that time, 10,000 Bitcoins were worth almost nothing: just about $41. Four days went by without response. No one truly understood that Bitcoin could someday be worth gold.

Jeremy Sturdivant, known by his nickname “Jercos,” recognized the historic opportunity. He acted quickly: from California, he called a Papa John’s branch and ordered two pizzas to be delivered nationwide to Laszlo. Payment was made via his debit card. In return, Jeremy received the promised 10,000 BTC into his Bitcoin wallet. On May 22, 2010, the first known purchase with cryptocurrency was completed — a moment now celebrated every year on Bitcoin Pizza Day.

The Lost Fortune

With today’s (March 2026) Bitcoin price of about $70,480 per BTC, those 10,000 BTC are worth around $704 million — an astronomical sum for two pizzas. But Jeremy Sturdivant did the unthinkable: he sold the Bitcoins shortly after they arrived to fund a trip with his then-girlfriend.

In retrospective interviews, Jeremy admitted that he “certainly” regrets this. However, he also emphasizes that at the time, he was not acting as an investor but as a helpful community member. “If I had looked at it as an investment, I might have held onto it longer,” he told the British newspaper The Telegraph. “But I probably would have sold it at a lower price, maybe at the point when 1 BTC was equal to 1 US dollar.”

Two Different Perspectives on the Same Moment

While Jeremy Sturdivant later regretted his quick action, Laszlo Hanyecz, the seller, later appeared more relaxed. “I try not to think about it too much,” Hanyecz explained in a later interview. “First, because it doesn’t make sense, and second, because it would drive me crazy.”

Laszlo had mined the Bitcoins himself and saw the trade as a gain — free food. For him, the transaction was a big win, not a mistake. Interestingly, Laszlo also philosophizes: “If I hadn’t done it, Bitcoin might never have become so popular.”

The Legacy of Jeremy Sturdivant

Despite his regret over selling the fortune, Jeremy is proud of his role. “Although I can’t take responsibility for Bitcoin’s success, I’m proud to have played a part in something that quickly evolved from an interesting concept into a global phenomenon.”

Today, Bitcoin Pizza Day is celebrated worldwide on May 22. Cryptocurrency enthusiasts eat pizza to remember the moment when Bitcoin first proved that it’s more than just code — that it has real, practical value.

Jeremy Sturdivant’s story is a lesson about timing, decisions, and the limits of human foresight. But it’s also a story about the early days of a revolution, where people like Jeremy and Laszlo unknowingly made history. Their pizza transaction remains an eternal symbol that the greatest opportunities are sometimes hidden in the simplest, most everyday moments.