Jeremy Sturdivant (제러미 스터디번트), who received 10,000 BTC on Bitcoin Pizza Day, said he spent the coins on travel costs for a cross-country trip in the United States, drawing attention.

On May 25 local time, blockchain media outlet BeInCrypto reported that Sturdivant used bitcoin to cover costs when he ran out of cash during the trip.

The remarks drew renewed attention after Blockstream CEO Adam Back (아담 백) reposted part of an interview video with Sturdivant. The clip spread quickly in the cryptocurrency community, and a widely cited early bitcoin transaction resurfaced.

The transaction in question took place in May 2010. Developer Laszlo Hanyecz (라즐로 하녜츠) placed an order using Sturdivant's credit card to pay for two Papa John's pizzas and sent 10,000 BTC in return. The deal is now marked each year as Bitcoin Pizza Day and is widely known as bitcoin's first commercial use.

Sturdivant said he did not view bitcoin as an investment at the time. He saw it as money meant to be spent and kept using it even as its price rose. He also said bitcoin should be used rather than stockpiled as a speculative asset. He said bitcoin filled the gap when he came up short on funds during his cross-country trip.

The remarks revived a long-running debate over whether bitcoin should be seen as money or a long-term holding. Sturdivant used bitcoin as an actual payment method, while Adam Back has strongly backed a long-term holding strategy. Back has repeatedly argued for holding bitcoin long term, citing the declining value of fiat currencies, and his decision to reshare Sturdivant's remarks further highlighted the contrast between the two views.

Rising bitcoin prices have added to the deal's symbolism. Bitcoin hit an all-time high of about $126,000 in October 2025, and at that level the 10,000 BTC would be worth more than $1.26 billion, or about 1.9 trillion won. Even using a price of about $77,787 around Pizza Day in 2026, the notional value of the holdings would exceed $770 million, or about 1.16 trillion won.

Sturdivant said he does not regret his choice at the time. The transaction was worth about $41, or about 60,000 won, and he said he used it where it was actually needed. He said he chose to use bitcoin as a payment method rather than stockpile it, a stance that stands in clear contrast to today's market view that has hardened around holding.

Against this backdrop, Bitcoin Pizza Day is re-emerging as more than a simple anniversary, becoming a moment to question bitcoin's nature again. For early users, bitcoin was a payment method, but in today's market it is more strongly seen as a store of value. Sturdivant's remarks again showed how interpretations of the same bitcoin have shifted between spending and holding.

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