We know the guy who bought 2 pizzas for 10,000 $BTC.
But what about the guy who sold those?
How did he spend those Bitcoins or did he HOLD?
Here’s the investigation about his life after this deal
🧵👇
In May 2010, Laszlo Hanyecz made history by buying two pizzas for 10,000 $BTC.
But, according to Bitcoin's white paper, its P2P system refers to exchanging assets between 2 people.
So, there must be another person who was involved in the first physical purchase using Bitcoin.
It was Jeremy Sturdivant, a 19-year-old student known on the BitcoinTalk forum as "jercos".
Being a strong Bitcoin enthusiast, he almost instantly agreed to take part in this unique transaction.
But what happened to him next? Is he still holding 10,000 $BTC?
1: The first day.
Few people write about it, but Jeremy made a profit from the very first moment of that transaction.
At that time, 2 Papa John's pizzas cost about $25, while Laszlo offered 10,000 $BTC or $41.
2: Take profits.
It might sound like the most incredibly profitable transaction in history, but...
The crypto cash disappeared when Sturdivant used it to "cover expenses" while traveling the US with his girlfriend.
3: More spending.
In his own words, Sturdivant's Bitcoin holdings also helped him buy games apart from supporting his travels.
He later told the Telegraph — "If I had treated it as an investment, I might have held on a bit longer."
4: Investing.
"Not beyond using $BTC business myself." Jeremy wrote.
He also added that if the opportunity arose he'd be more inclined to invest in a Bitcoin business than to hold on to coins.
5: Career.
He's currently a product development engineer for Inovonics Inc.
It's a manufacturer of professional radio broadcast equipment.
6: Net worth.
$570M... It could have been, but he squandered them all.
"Those 10,000 BTC made it back into the economy fairly quickly, around the time they were worth some $400."
So, having received a 10x ROI, he could not hold on and sold everything. #
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