Earlier, a bill was passed recognizing May 22 as Bitcoin Pizza Day in the city of Porto Alegre in Brazil. The city’s mayor, Sebastiao Melo, is credited with approving the bill in tardy August.

Twitter user @Akva556 announced this news following Wednesday’s press statement.

Councilors Jesse Sangalli and Alexandre Bobadra were responsible for drafting the bill after attending the local community’s Bitcoin Pizza Day event in 2022. The two were inspired by lectures they received that explained Bitcoin in detail.

Sangalli stated that the purpose of officially declaring Bitcoin Pizza Day is to augment awareness of decentralized finance innovations in the city of Porto Alegre, whose current population is 1.5 million.

Bitcoin Pizza Day was created when on May 22, a BitcoinTalk forum user named Laszlo Hanyecz offered 10,000 Bitcoins for two pizzas.

This day is seen as a turning point for cryptocurrency enthusiasts as it was the first time Bitcoin was truly used as a means of payment. One Bitcoin was then worth $0.0025, and the value given in Bitcoins cost a total of $41.

The development of the Blockchain industry in Brazil

Brazil’s largest companies are gradually enabling customers to start using cryptocurrencies quickly and easily to diversify your assets, protect against inflation and lower transaction costs as cryptocurrencies are rapidly gaining popularity in Brazil.

In August, Brazilian bank BTG Pactual fired its own cryptocurrency trading platform called “Mynt”, which has become publicly available.

Amber Group, also a cryptocurrency startup announced intends to expand its retail operations to Brazil through a retail platform called WhaleFin.

Work on it has begun, the world’s largest retail electronic payment network, Visa Inc integration Bitcoin services with time-honored banking systems in Brazil. In this way, Visa hopes to close the gap between cryptocurrencies and the current time-honored financial system.

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