TL;DR Breakdown
• Bitcoin Pizza would go on from May 22 to 29.
• Bitcoin took a nosedive on speculation by Elon Musk.
Cryptocurrency Influencer Anthony Pompliano announced that a new pizzeria called “Bitcoin Pizza” would go on to promote crypto development. This North American store will use local delivery to support Bitcoin financially.
In a recent post, Pompliano said that 100% of the profits the pizzeria accumulates would go to a Bitcoin development fund. This storage will be supported by the Human Rights Foundation, which was launched to support software developers. The fund will also help the cryptocurrency community to maintain the decentralized market.
Bitcoin Pizza initiative
The Bitcoin Pizza initiative is partnering with many local pizzerias and stores in 10 North American cities. The cities that promote the commercialization of Bitcoin are Los Angeles, New York, San Francisco, Boston, Washington, Seattle, Chicago, Austin, Houston, and Miami. This project will begin on the 22nd of May and will end on the 29th of May to raise funds.
The Bitcoin Pizza website claims that its brand is the first to work with decentralized currencies. The support that the brand has received has been very great. In addition, they have a clear objective, to face Big Pizza. The brand is thinking big, and this is shown in hopromising the project sounds.
Inspiration for the Bitcoin Pizza project
Influencer Pompliano suggested that the inspiration for the Bitcoin Pizza project was Laszlo Hanyecz. This web developer bought a pizza for 10,000 Bitcoin in 2010 to promote the decentralized market. Hanyecz’s marketing idea worked because today, Bitcoin is the highest valued cryptocurrency.
In honor of Hanyecz and that audacious feat, every May 22 is celebrated as “Bitcoin Pizza Day.” After these ups and downs, Bitcoin has a current value of around $43,000. If Hanyecz bought a pizza with 10,000 BTC, he would be paying around $434.7 million.
Although the real-world applications for Bitcoins are expanding, the cryptocurrency had recently reduced in value due to the speculations of Elon Musk.
Bitcoin may have a new breather with the project proposed by the pizza shop and its potential partners. In May, there is a potential for a change in the value of the cryptocurrency, which could help it reach a new all-time high. Bitcoin could gain more fame than it does for updating its working scheme, which is what Musk demands.
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