Jeremy “jercos” Sturdivant, the recipient of the historic Bitcoin Pizza Day transaction, has confirmed he spent his 10,000 Bitcoin (BTC) on a road trip across the United States after running out of money.

The story resurfaced after Adam Back, CEO of Blockstream, reposted a video clip of Sturdivant discussing the exchange. The post spread quickly across crypto social media and drew fresh attention to one of Bitcoin’s most often-cited transactions.

On May 22, 2010, Sturdivant received 10,000 BTC from developer Laszlo Hanyecz. The payment covered two Papa John’s pizzas ordered on Sturdivant’s credit card. That transaction is now observed annually as Bitcoin Pizza Day and stands as the first documented commercial use of Bitcoin.

Hi, I'm @jercos! pic.twitter.com/Al0X2RotA6

Sturdivant said he never considered the BTC an investment. He treated the coins as functional currency and spent them as their value gradually climbed. He emphasized that Bitcoin was meant to be used, not stored as a speculative asset. When a cross-country road trip left him short on funds, the Bitcoin covered the gap.

Bitcoin reached an all-time high of approximately $126,000 in October 2025. At that price, the original 10,000 BTC would have been worth over $1.26 billion. BTC traded near $77,787 on Pizza Day 2026, still placing the notional value of that stack above $770 million.

Back stands among Bitcoin’s most prominent advocates. He has been vocal about long-term holding strategies as fiat currencies weaken. Just days before reposting the clip, he urged investors to buy BTC at current price levels. His decision to amplify Sturdivant’s remarks was notable for the contrast it implied.

Sturdivant’s approach was to use the coins as money, not accumulate them. Back’s position represents the opposite view. That divide sits at the center of a Bitcoin in culture debate that has persisted since the network’s earliest transactions. Sturdivant wanted BTC to function as a living currency. Back has argued that people should treat it as a hard monetary asset.

Sturdivant has said he has no regrets. The transaction was worth roughly $41 at the time. How that philosophy holds up depends on where the current Bitcoin price cycle ends up.

The post Bitcoin Pizza Day Recipient Speaks Out: How the 10,000 BTC Was Spent appeared first on BeInCrypto.

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