The city of Porto Alegre in Brazil has declared Bitcoin Pizza Day as a public holiday.
A legislation has been officially passed, acknowledging May 22 as Bitcoin Pizza Day in Porto Alegre. The mayor, Sebastiao Melo, is recognized for approving this bill towards the end of August. The announcement after a press briefing held on Wednesday.
The bill’s creators, Councilors Jesse Sangalli and Alexandre Bobadra, were inspired to draft it after participating in the Bitcoin Pizza Day event organized by the community in 2022, where detailed lectures on Bitcoin were presented.
Sangalli emphasized that the aim of officially recognizing Bitcoin Pizza Day is to elevate awareness about decentralized finance innovations within the population of Porto Alegre, which stands at approximately 1.5 million residents.
The origin of Bitcoin Pizza Day traces back to May 22, when a BitcoinTalk forum user named Laszlo Hanyecz famously offered 10,000 Bitcoins for two pizzas.
This date is recognized as a pivotal moment for cryptocurrency enthusiasts, as it marked the first instance of Bitcoin being used as a payment method. At that time, the value of one Bitcoin was approximately $0.0025, with the total Bitcoin amount spent translating to about $41.
Progress of the Blockchain Industry in Brazil
Leading Brazilian corporations are progressively enabling customers to engage with cryptocurrencies effortlessly as a means of diversifying investments, guarding against inflation, and minimizing transaction expenses, reflecting the growing enthusiasm for cryptocurrency in Brazil.
In August, Brazilian bank BTG Pactual introduced ’Mynt’, a new platform for crypto trading, which is now accessible to the public.
Additionally, Amber Group, a startup in the crypto-financial sector, announced plans to expand its retail trading operations into Brazil with a platform called WhaleFin.
Visa Inc., the world’s largest retail electronic payments network, is working on integrating Bitcoin services with existing banking systems in Brazil, aiming to bridge the gap between cryptocurrencies and traditional financial systems.
