How Jeremy Sturdivant spent the 10,000 Bitcoin pizza fortune
Jeremy Sturdivant, the 19 year old who received 10,000 Bitcoin for two pizzas in May 2010, spent almost all of it long before BTC crossed even $1, let alone today’s five figure levels.
- In 2010, 10,000 BTC was worth about $40 to $41 and bought two Papa Johns pizzas for Laszlo Hanyecz in Jacksonville.
- Sturdivant later said he spent the coins on travel and goods as Bitcoin’s price climbed from fractions of a cent to under $1.
- At Bitcoin’s November 2021 peak near $69,000, that same 10,000 BTC would have been worth around $690 million.
Jeremy Sturdivant, known as “jercos” on the Bitcointalk forum, was the counterparty to Laszlo Hanyecz’s now legendary 10,000 BTC pizza purchase on May 22, 2010.
How did Jeremy Sturdivant end up with 10,000 BTC for pizza?
The deal that turned into Bitcoin Pizza Day began on the Bitcointalk forum on May 18, 2010, when Florida programmer Laszlo Hanyecz offered 10,000 BTC to anyone willing to get him “a couple of pizzas” delivered to his home.
Four days later Hanyecz posted, “I just want to report that I successfully traded 10,000 bitcoins for pizza. Thanks jercos!” confirming that forum user Jeremy “jercos” Sturdivant had stepped in, paid for two large Papa Johns pizzas with his credit card, and received 10,000 BTC in return.
At the time, those 10,000 BTC were valued at roughly $40 to $41, while the pizzas themselves cost less than $50, underscoring how informal and experimental the trade really was.
Crypto traders now commemorate that transaction every May 22 as Bitcoin Pizza Day, a tradition crypto.news highlighted in a 15th anniversary feature looking back at how both Hanyecz and Sturdivant view the deal years later.
Today Bitcoin (BTC) trades in the tens of thousands of dollars per coin, with the asset topping $76,000 in recent market cap data tracked by crypto.news.
What did Sturdivant do with the 10,000 BTC and where is he now?
Sturdivant did not become a Bitcoin billionaire because he never held the coins for long.
In a 2016 interview titled “A Living Currency: An Interview With ‘Jercos’,” he explained that he treated the 10,000 BTC as spending money and cycled it back into the small Bitcoin economy as its price crept up, saying he used the windfall on goods and travel rather than hoarding it.
That posture fit his broader view of Bitcoin at the time. In the same interview he argued that Bitcoin only made sense as something used, not idolized, saying he wanted to see it behave as “a living currency” rather than a speculative trophy locked away forever.
The contrast with the asset’s later trajectory is stark. By the 2021 bull market peak, the original 10,000 BTC would have been worth about $690 million at roughly $69,000 per coin, while more recent rallies have pushed Bitcoin above $76,000 with a market capitalization over $1.5 trillion.
Crypto historians have since noted that Hanyecz went on to spend tens of thousands more BTC on pizzas that year, while Sturdivant’s role receded as he moved on with his life away from the spotlight, resurfacing mainly in retrospective pieces about Bitcoin Pizza Day.
Crypto.news has revisited the episode repeatedly in coverage of Bitcoin Pizza Day, including reporting on how the community uses the anniversary to reflect on price discovery, early adoption, and the tension between using Bitcoin as money versus treating it as a long term store of value.
One recent explainer on Bitcoin’s evolution from novelty payment method to major asset also situates the pizza trade as a key moment in its price discovery history and links it to later phases where BTC broke above $100, $1,000, and eventually five figure territory.
As of today there is no evidence that Sturdivant accumulated a significant new stash of BTC after spending the original 10,000 coins, which means the teenager who once held what would later be hundreds of millions of dollars worth of Bitcoin cashed out of his position long before the asset reached those levels.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Gold price holds critical $4,100 support, but can it break $4,200 as inflation risks loom?
Hinkal joins Mastercard Crypto Partner Program for private stablecoin payments
Chipmaker earnings growth cools to 136% as AI boom lifts S&P 500
Updated: Delta Air Lines warns that as fuel prices hit profits, airline capacity will tighten further
Delta Airlines lowers its annual profit forecast due to an expected increase in fuel costs to $6 billion. The CEO stated that ticket prices have risen by about 20% this year, with limited passenger resistance. Analysts warn that maintaining high ticket prices in 2027 is critical for improving profitability. The article includes comments from the earnings call and analyst remarks. Rajesh Kumar Singh/Shivansh Tiwary, Reuters Chicago, October 9 - Delta Airlines (DAL.N) said on Friday that, despite strong travel demand and rising ticket prices, soaring fuel costs have forced it to cut its 2026 profit expectations by nearly a quarter. So, the airline industry may need to further limit flight growth next year to protect profitability. This warning highlights the increasingly tough challenges faced by U.S. airlines. While strong demand and restricted seat growth have allowed airlines to significantly raise ticket prices and offset higher fuel costs, aggressively increasing flights to capture more demand may intensify competition, making it harder to maintain high fares and protect profits. Based in Atlanta, Delta now expects its annual fuel expenditure to increase by about $6 billion compared to last year—about $2 billion higher than its July forecast—due to the Iran war (link) causing global jet fuel prices to spike. Airlines worldwide are preparing for a prolonged fuel shock. Michael O’Leary, CEO of Ryanair Group RYA.I, said Thursday that high jet fuel prices could persist for another 12-18 months (link), adding more pressure on airlines to raise fares and control costs. https://www.reuters.com/graphics/AUTOMATED-20261008/A4A-JET-FUEL-DAILY-1Y/xmpjwjnmbvr/chart.png “In a high-cost environment, you can’t simply grow your way out,” Delta CEO Ed Bastian said on the earnings call. He noted that the industry has already taken steps to restrict capacity, but more measures will be needed next year to improve profitability. Bastian said Delta raised ticket prices about 20% this year, and passenger resistance has been limited. He is confident that even if fuel costs eventually drop, the high fares can still be maintained. Delta lowered its adjusted annual earnings per share forecast from the July prediction of $6.50-$7.50 to $5.10-$5.60. According to LSEG data, the midpoint of the new range is below analysts’ average expectation of $5.46. Third-quarter adjusted earnings per share were $1.72, four cents below analysts’ average forecast. In midday trading, shares of Delta dropped 1.7%, United Airlines UAL.O fell 1.4%, and both American Airlines AAL.O and Southwest Airlines LUV.N were down about 1%. Delta partly shields itself from rising fuel costs by owning a refinery outside Philadelphia (link), which is expected to generate over $700 million in profits this year. Even with this buffer, the airline expects its fourth-quarter fuel price to rise from $3.61 per gallon in Q3 to $4.25 per gallon. Delta forecasts adjusted fourth-quarter earnings per share to be between $1.15-$1.65, with the $1.40 midpoint roughly matching analysts’ average expectation of $1.39. Fare increases Government data shows that in the first eight months of 2026, U.S. airlines spent $42.9 billion on fuel, an increase of $13.2 billion compared to the same period last year despite slightly reduced consumption. According to the U.S. Bureau of Labor Statistics, strong demand and limited seat growth pushed average U.S. airline ticket prices up by about 25% year-on-year between April and August. https://www.reuters.com/graphics/USA-AIRLINES/FUEL/lbpgdnbzwvq/chart.png Analysts at Melius Research said that despite surging fuel costs, Delta’s ability to raise fares helps keep second-half profits roughly stable. Still, they warn that the company’s profit margin has struggled to improve over the years. “It is critical for margin improvement to maintain or raise fares in 2027,” they wrote in their research report. With industry capacity growth expected to accelerate in Q4, this challenge will likely become even tougher. Deutsche Bank analysts expect the proportion of fuel costs recouped through revenue measures to fall in Q4 and predict full recovery won’t happen until early 2027. Bastian noted that low industry returns are another reason for limiting capacity growth. He said Delta will be cautious with its 2027 capacity plan until the fuel price outlook becomes clearer. He added that international routes may account for a larger share of Delta’s capacity expansion compared to domestic routes. Currently, Delta says its premium cabins and corporate travel business remain strong, and its economy cabin business is gradually improving. With Q4 ticket bookings already exceeding 60%, Delta expects revenue to increase about 20% year-on-year, despite limited capacity growth. Executives said early booking trends for Q1 2027 are also encouraging. (For the convenience of non-native English speakers, Reuters automatically translates its reports into several
Crypto prices
More
