The other side of the Bitcoin pizza transaction: what happened to the person who bought pizza with Bitcoin?

On May 22, 2010, a seemingly ordinary transaction shook the entire cryptocurrency world. Programmer Laszlo Hanyecz exchanged 10,000 Bitcoins for two Papa John’s pizzas. This date later became known as “Bitcoin Pizza Day,” the most famous “mistake” in crypto culture. Based on the current BTC price of $70,750,000, those 10,000 Bitcoins are now worth about $7.07 billion, making it the most expensive meal in history.

But all the focus was on the buyer—people remember Laszlo’s “irrational” decision. Few asked: who was the person who accepted those 10,000 Bitcoins? What happened to him now?

The other side behind the spotlight: Jeremy Sterdivant

The answer is a young man named Jeremy Sterdivant, known online as “jercos.” In 2010, 19-year-old Jeremy was active on Bitcoin forums, back when Bitcoin was still largely unknown. When Laszlo posted his absurd transaction proposal on the forum, young Jeremy didn’t hesitate—he quickly arranged for the pizza delivery and received those 10,000 digital coins.

At the time, no one knew this would become a landmark moment in crypto history. No one knew that the young man who completed the transaction would be forgotten by future generations.

Two diverging paths: holder’s regret vs. user’s acceptance

Laszlo became synonymous with “mistake decision.” Many commentators lamented: if he had held onto those 10,000 BTC until today, he could have amassed over $700 million. This hypothetical is repeated in every Pizza Day retrospective.

But Jeremy took a completely different route. He didn’t hoard the Bitcoins; over the following years, he gradually spent and exchanged those assets. Back then, Bitcoin wasn’t seen as a “store of wealth,” but as an experimental trading tool by early community members. Jeremy once said in an interview that he never regretted spending those Bitcoins—because at that time, their actual value was negligible.

This reflects two entirely different values: one is the “mistake tragedy” seen from later perspectives, the other is the “rational choice” of participants at the time.

A story buried in time: why was Jeremy forgotten?

Laszlo gained fame from Pizza Day, becoming a celebrity in the crypto community. His story was repeatedly told as a cautionary tale against the “HODL spirit.” Meanwhile, Jeremy deliberately stayed low-profile, avoiding public attention.

This forgetfulness isn’t accidental. Our culture tends to focus on “loss” rather than “participation.” Laszlo’s story is a warning—about missed wealth and the regret of time lost. Jeremy’s story is much more ordinary: he participated in an experiment, completed a transaction, and moved on with life. Such stories lack dramatic tension.

But it is precisely this “ordinariness” that makes Jeremy truly represent the spirit of early Bitcoin adopters—those who weren’t in it for accumulating wealth, but to test a technological vision.

Overlooked pioneers: their true historical significance

Without people like Jeremy willing to accept Bitcoin as payment, the Pizza Day transaction wouldn’t have happened. More importantly, without hundreds of early traders like him, Bitcoin might have remained a niche geek toy rather than the global phenomenon it is today.

Jeremy represents a key moment in history: when Bitcoin transitioned from pure theory to practical application. They are the ones who truly brought Bitcoin to life.

Reflection: the legacy of two Bitcoin pioneers

Every anniversary of Bitcoin Pizza Day re-tells Laszlo’s story. But perhaps we should also commemorate Jeremy— the person who accepted Bitcoin for pizza.

Their stories embody two sides of crypto culture: one teaches us about regret and missed opportunities, the other reminds us of the value of experimentation and participation. Laszlo’s choice has become a warning—“don’t spend Bitcoin lightly”—while Jeremy’s choice reflects the idea that “the true purpose of Bitcoin is liquidity and exchange.”

Today, when we see someone using Bitcoin for everyday purchases, we often advise, “Wait, it might appreciate.” But this mindset diverges from what Jeremy and the early community envisioned for Bitcoin’s ecosystem.

Perhaps the real legacy isn’t who holds more coins, but those willing to make Bitcoin a real transactional tool. Next time you think of Pizza Day, remember Jeremy Sterdivant—the young man who received 10,000 Bitcoins and moved forward with calm acceptance. His story is just as worth remembering.