Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,165 trillion. Bitcoin is up by over 2% after a rollercoaster of a week. Ethereum decreased by almost 1% over the past seven days. XRP gained more than 15% in value this week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector decreased the total value of protocols…
Pompliano Reveals Bitcoin Pizza Brand Aimed at Profiting Bitcoin Developers
Anthony Pompliano announced that Bitcoin Pizza, a new project, would use local pizza delivery to fund Bitcoin development. Pompliano clarified in a video posted on Twitter that 100% of the proceeds from the new project go to the Bitcoin Development fund initiated by the Human Rights Foundation. The fund benefits software developers from the open-source and the cryptocurrency community.
Today I am announcing Bitcoin Pizza – a new national pizza brand that is launching in 10 cities.
The first pizzas will be delivered this Saturday, which is the 11 year anniversary of the infamous bitcoin pizza transaction.
Buy pizza: https://t.co/L6AkyRPgjr 🔥🔥 pic.twitter.com/nUkCZd430Q
— Pomp 🌪 (@APompliano) May 18, 2021
Bitcoin Pizzas Will be Available Soon
In 2010 Laszlo Hanyecz bought two Papa John Pizzas for 10 000 bitcoins, and he completed the first commercial transaction through the currency. Pompliano alludes to this infamous transaction.
The pizzas are being delivered from 22 to 29 May in Seattle, San Francisco, Los Angeles, Austin, Houston, Chicago, Miami, Washington D.C., New York City, and Boston. Hungry customers can visit the Bitcoin Pizza website and place a delivery order that comes hot in the Bitcoin special package.
Five different types of pies are offered, including Laser Eyes, the pepperoni version, a ham version named Satoshi’s Favourite, no keys, no cheese, lightning meat, and capital greens.
Every pie will differ in prices by the city. Still, it will be higher than a regular pie at each location, with profits going to the Human Rights Foundation to support the Bitcoin Development Fund of the organization. Bitcoin Pizza will disrupt the incumbent corporate pizza chain as Bitcoin works to disrupt incumbent banks. Bitcoiners can do anything, Pompliano said.
Ironically, Bitcoin will not be recognized as a form of payment. Customers are asked to use real cash.
According to the brand, Bitcoin can be an instrument of liberation for individuals in closed societies or for people who face hyperinflation, restrictions on the money, penalties, and financial surveillance. Every pizza purchased supports open source developers to make the Bitcoin network more private, decentralized, and robust.
The Bitcoin Price is Tumbling
Although real-world Bitcoin and other cryptocurrencies applications continue to grow, Tesla CEO Elon Musk revealed earlier this week that its electric vehicle company would no longer accept Bitcoin as the payment for new vehicles. The price of Bitcoin, which began May at nearly $60,000, fell below the $40,000 mark.
This week, China intensified the sell-off of bitcoin and crypto, which instructed banks not to facilitate crypto transactions and alert investors to avoid speculative trade. Traders in China once represented an enormous proportion of the bitcoin market, but regulators greatly diminished their presence after the crackdown. Chinese crypto operations have moved beyond China.
The price of the top five cryptocurrencies by value, including BNB, Cardano, and dogecoin, has all decreased by a double-digit percentage in the last 24 hours, as around $700 billion was washed away last week from the cryptocurrency market.