Finally, There’s Bitcoin Pizza. But It Doesn't Accept Bitcoin!

2 min read | May 20, 2021 03:32 AM AEST | By Team Kalkine Media

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Finally, There’s Bitcoin Pizza. But It Doesn't Accept Bitcoin! — Image source: Pixabay

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Bitcoin has been in the spotlight lately. Despite the volatile nature of the digital currency, crypto enthusiast Anthony Pompliano has come up with a business venture to fund the development of cryptocurrencies.

The blockchain technology and digital assets entrepreneur launched Bitcoin Pizza, a brand influenced by the digital currency, on Tuesday, May 18. This proceeds of this pizza delivery franchise will be used to support the development of bitcoin.

As per the business model, the brand will partner with local pizzerias and box them as the Bitcoin Pizza. Customers will get up to five pizza options to order from the official website. It will initially launch in 10 cities across the US, including New York, Washington DC, San Franciso, and Boston.

Prices of these pizzas are expected to vary across cities, but it will be on the higher side as compared to regular pizza chains, multiple reports added.

The crypto-themed pizza franchise is expected to start its operations from Saturday, May 22 – the Bitcoin Pizza Day. The day marks the 11-year anniversary of the first commercial transaction conducted by the digital currency when programmer Laszlo Hanyecz purchased two pizzas with 10,000 bitcoins.

Source: Pixabay

Mr Pompliano, in a Twitter announcement on Tuesday, said that all proceeds from the sale of these pizzas will be donated to the Bitcoin Development Fund under the Human Rights Foundation to support the development of the cryptocurrency.

But what has caught the interest of crypto enthusiasts is that the brand does not accept payment in bitcoin or any other virtual currency!

Meanwhile, the entire crypto market crashed on Wednesday, May 19, wiping off trillions of dollars of investors’ wealth.

Bitcoin has been in the news lately, particularly due to the sharp decline in its value in the past couple of weeks. It came on the heels of Elon Musk’s tweet, who announced last week that Tesla won’t accept the virtual currency as a payment method over environmental concerns.

The excessive energy consumption of Bitcoin, world’s largest cryptocurrency, has raised many eyebrows across the world, including governments and corporates.

In a recent move, the Chinese government also banned the use of cryptocurrencies to curb speculative trading in digital currencies, which has added to the volatility of bitcoin.

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