Brazilian City of Porto Alegre Formally Makes Room for Bitcoin Pizza Day

An earlier bill was passed in Porto Alegre to make May 22nd Bitcoin Pizza Day. Sebastiao Melos, the mayor of the municipality, is credited for having approved the law at the end August.

Twitter user @Akva556 announced Following a Wednesday press conference, the following news was released. 


After attending the Bitcoin Pizza Day in 2022, Councilors Jesse Sangalli & Alexandre Bobadra drafted the bill. They were both inspired after the detailed lectures that explained Bitcoin to them.


Sangalli stated, “Bitcoin Pizza Day” was established to raise awareness of decentralized finance innovations in Porto Alegre. The city has a population record of 1.5 Million.


Bitcoin pizza day began when Laszlo Hansyecz (a BitcoinTalk forum user) offered 10,000 Bitcoins for two pizzas. 


Because it was the first time Bitcoin was used as a payment medium, this day is considered to be a turning moment for crypto enthusiasts. At the time, one Bitcoin was worth $0.0025. In total, 41 dollars were spent on Bitcoins.


Brazil’s Blockchain Industry: The Advancement


Major Brazilian businesses are slowly making it possible to use the services of their clients cryptocurrencies You can quickly and easily diversify your assets, protect yourself against inflation, and lower transaction costs. Cryptocurrency is rapidly growing in Brazil.


In August, Brazilian Bank BTG Pactual launched its own platform called ‘Mynt’ for crypto trading which became available to the public.


Amber Group, a cryptofinancial start-up firm, also Announcement Through a retail platform called WhaleFin, it plans to expand its retail trading activities to Brazil.

Visa Inc. is the largest network of electronic payments for retail customers in the world. Integration Bitcoin services can be used in Brazil with traditional banks. Visa hopes this will close the gap between cryptocurrency and the existing traditional financial system.

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