A bill was previously passed to recognize May 22 as Bitcoin Pizza Day in the city of Porto Alegre in Brazil. Sebastiao Melo, the city’s mayor, is credited with passing the law in late August.

A tweeter @Akva556 Announced the news after a press release on Wednesday.

Councilors Jesse Sangalli and Alexandre Bobadra were tasked with drafting the bill after attending the local community-hosted Bitcoin Pizza Day event in 2022. Both were inspired by lectures they received that explained Bitcoin in detail.

Sangalli stated that the purpose of making Bitcoin Pizza Day official is to raise awareness of decentralized finance innovations in the city of Porto Alegre, with a current record population of 1.5 million people.

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

That day is considered a turning point for crypto enthusiasts because it was the first time that Bitcoin was actually used as a means of payment. One Bitcoin was worth $0.0025 at the time, the value supplied in Bitcoins cost $41 in total.

The advancement of the blockchain industry in Brazil

Major Brazilian companies are gradually enabling customers to start using CRYPTOCURRENCIES quickly and easily to diversify your assets, hedge against inflation and reduce transaction costs, as cryptocurrencies are rapidly gaining popularity in Brazil.

In August, the Brazilian bank BTG Pactual thrown out its own platform called ‘Mynt’ for cryptocurrency trading which was made available to the public.

Amber Group, a crypto-financial startup too Announced its intention to expand its retail business activities in Brazil through a retail platform called WhaleFin.

The world’s largest electronic payment retail network, Visa Inc., has started work on integrating Bitcoin services with traditional banking systems in Brazil. By doing so, Visa hopes to bridge the gap between cryptocurrencies and the current traditional financial system.

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