Bitcoin Pizza Day is now formally included in the calendar of yearly events of the Brazilian city of Porto Alegre, which will be celebrated on May 22.
According to a post from LiveCoins on October 12, the decision was taken when councilors Jessé Sangalli and Alexandre Bobadra attended a memorial event on May 22, 2022, where they discovered the significance of Bitcoin (BTC) and the milestones accomplished by it over the years.
The bill’s proponent, Councilman Sangalli, stated that he wanted to raise awareness of the decentralized finance initiatives among the 1.5 million population of the city. Sebastio Melo, the mayor of the city, was majorly involved in approving the proposal at the end of August. Sangalli stated:
“This PL will bring visibility to cryptocurrencies and signal that our city supports technological innovation and has its eyes on the future. At worst, the PL is innocuous and even helps to take time off the agenda of other legislation that generates costs to the treasury or reduction of freedoms and, at best, will help bring the cryptocurrency debate to the general public”.
Bitcoin used as a medium of exchange for the first time
May 22 is a significant date among cryptocurrency enthusiasts since it was the day Bitcoin was used as a medium of exchange for the first time when Laszlo Hanyecz, a BitcoinTalk forum user, offered 10,000 BTC in exchange for two pizzas on May 22, 2010.
It is important to note that Bitcoin has matured with time and is now being adopted in different payment systems all across the world. Still, the asset class’s big win came after El Salvador became the first nation to officially recognize Bitcoin as an official currency.
Several nations have thought about taking the same course in this regard, but the discussion has subsequently cooled as a result of the persisting bear market. In June this year, we saw El Salvador struggling to issue the much-awaited Bitcoin bonds because of the winter market.