Excitement For 14th Bitcoin Pizza Day Not Attracting Buyers

• 1 The crypto community is celebrating 14th anniversary of Bitcoin Pizza Day on May 22, 2024, with excitement.
• 2 The day is expected to acknowledge various events in the Bitcoin community all across the world.
• 3 The excitement was not visible in the trading prices and volume for the day.

The crypto and bitcoin industries are experiencing significant excitement for the celebration of 14th Bitcoin Pizza Day. On the occasion of Bitcoin Pizza Day is members of the Bitcoin community are celebrating in their own ways. Some are organizing conferences, meet-ups and events to remember and cherish the extra-ordinary growth of Bitcoin and the overall crypto market.

While others are just having pizza and remembering the day and appreciating the growth of Bitcoin in all these years.

Michael Saylor, founder and chairman of Microstrategy, has initiated a vote post for the day, asking his followers what their plans are to celebrate the most iconic memory in the journey of Bitcoin.

His post had received 18,019 votes out of 181.2K total views at the time of writing. His post had a very simple question about the idea of celebration and gave three choices: (i) Eat Pizza (ii) Buy Bitcoin (iii) Eat Pizza and Buy Bitcoin.

Out of the total votes, 21.7% of the voters have said they will eat pizza, 29.6% said they will buy bitcoin and the remaining 48.6% said they will eat pizza and buy bitcoin.

Apart from votes, his post has received so many comments, showing the excitement of the viewers for the day.

Market Outlook for Bitcoin on the day

Despite all the excitement for Bitcoin Pizza Day, it is not reflected in the trading price of Bitcoin for the day. The prices are more or less flat in comparison to the previous trading day, which experienced a decline of 0.23%. At press time, BTC was trading at $69,982, offering a weekly return of 13.68%.

Source: TradingView

The trading volume is lower than expected and does not reflect the buying activities from the traders.

BTC’s Journey from the 1st to the 14th Pizza Day

On May 22, 2010, Bitcoin marked the most recognized milestone, known as Bitcoin Pizza Day. 

Then, Laszlo Hanyecz bought 2 pizzas for 10,000 Bitcoins. Since then, Bitcoin has grown significantly. Lina Seiche, a crypto enthusiast, has shared a cryptic post over X to show the tremendous growth of Bitcoin.

In the post, she highlighted that Hanyecz had to pay 10,000 BTC to buy a pizza in 2010. However, now in 2024, a user can buy 10,000 pizzas for 1 BTC. The equation has been completely reversed.

In 2010, 1 Pizza = 10,000 BTC

In 2024, 1 BTC = 10,000 Pizza

However, the growth of Bitcoin is not limited to this; it is expected to grow further and mark a milestone to reach a value of $1,000,000 for a Bitcoin.

Anurag S

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.