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Primarily, the creators of Bitcoin conceptualised crypto as a revolution in the crypto market. The primary aim was to ditch the centralised aspects of finance and banking and look for more advanced, easy, and decentralised methods for transactions. But little did they know that Bitcoin will bring a storm in the revolutionary crypto market. So, to celebrate the success of Bitcoin and to appreciate its offerings, a Florida-based computer programmer named Laszlo Hanyecz introduced Bitcoin Pizza Day!
May 22 of every year is celebrated as Bitcoin Pizza day, where the Florida man Laszlo paid for two pizzas with cryptocurrency and became the first man to use Bitcoin for any commercial transaction. He agreed to pay 10,000 Bitcoins for two delivered Papa John's pizzas. Nine years later, Bitcoin became capable enough to compete with the almighty American dollar! On its 11th anniversary in 2021, Bitcoin price reached a record high, crossing the US$63,000 resistance.
Since the incident that marked the beginning of Bitcoin Pizza Day, crypto has undergone several ups and downs. But one of the primary drivers that have caused the price hike is the rate at which new investors are joining the crypto market and exploring cryptocurrencies. According to reports, the Bitcoin adoption rate has been increasing at an annual rate of about 113%, in fact, it is expected that by 2030, the number of Bitcoin users will rise up to 4 billion.
The increased Bitcoin adoption calls for heightened regulation and policies, but crypto fanatics are not going to slow down. Trusted cryptocurrencies like Bitcoin play the dual role of an investment asset, and also a store of value. Crypto regulation does bring up a lot of unanswered questions but crypto investments are not showing any trends of slowing down! So, to celebrate this success, make any day your own Bitcoin Pizza Day, and celebrate success!
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
