Recently the crypto community proceeded to celebrate the famous BTC Pizza Day even though the virtual market is going through a bearish streak. This would be the 12th celebration of the arrival of BTC in the financial industry. Satoshi Nakamoto developed the token in early 2010.
Crypto trading is experiencing unfavorable weeks where Bitcoin, the number one token in the market, has lost more than 20 percent of its value in recent days. This trend has caused TerraUSD, an algorithmic stablecoin, to lose its parity with the US dollar, triggering alerts among the main regulators. However, the BTC Pizza Day tradition has not yet been lost, and its fans celebrate it.
12th celebration of BTC Pizza Day
According to reports, BTC Pizza day was motivated by the first recorded transaction of the cryptocurrency. Back then, Hanyecz Laszlo bought a couple of pizzas with about 10,000 Bitcoin or $41. However, neither Hanyecz nor the rest of the world thought that Bitcoin would reach a value of over $60000 per unit, making the purchase today valued at thousands of dollars.
Indirectly, BTC Pizza Day also recognized the advances in crypto technology in the last few years. By May 2021, the token was going through a regulatory stage in China, the United States, and part of Europe. Currently, Bitcoin is accepted as an innovative technology in America and is used by the main firms.
Epic Bitcoin transaction
At each BTC Pizza Day celebration, many techies wonder what happened to Hanyecz and if he was able to overcome the rise of Bitcoin in later years. The reality is that Hanyecz has no regrets for being the first person who trusted the crypto and bought pizzas with the token. On the contrary, he is grateful for leaving his mark on the history of innovative technology.
The entry of BTC Pizza Day comes amid a lopsided market where Bitcoin manages to trade at $30,000. This reflects that the token has lost more than 50 percent of its value in the last year. But this could be rewarded knowing that global crypto adoption has doubled in recent months.
Crypto technology has become a topic of discussion for the main regulators in the United States, who have been forced to relax the laws due to the high demand generated by the token. On the other hand, the crypto market has been the promoter of other technologies such as non-fungible tokens and the rise of the metaverse, a fairly common theme for the year.
Source: https://www.cryptopolitan.com/btc-pizza-day-is-celebrated/