economictimes.indiatimes.com Open in urlscan Pro
2a02:26f0:480:189::216f  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Benchmarksclosed
Nifty18,499.35178.20
FEATURED FUNDS
★★★★★
ICICI Prudential Large & Mid Cap Fund Direct Pla..
5Y Return
14.92 %
Invest Now
FEATURED FUNDS
★★★★★
ICICI Prudential India Opportunities Fund-IDCW
3Y Return
37.66 %
Invest Now

English EditionEnglish Editionहिन्दीગુજરાતીमराठीবাংলাಕನ್ನಡമലയാളംதமிழ்తెలుగు
| Today's Paper
Sign In
Special Offer on ETPrime

Home
ETPrime
Markets

News

Industry

Rise

Politics
Wealth

Mutual Funds

Tech

Careers

Opinion

NRI

Panache

ET NOW

Spotlight


Stocks
News
Live Blog
Earnings
Podcast
Market Classroom
Dons of Dalal Street
Recos
Stock Reports Plus
Candlestick Screener
Stock Screener
Stock Watch
Market Calendar
Stock Price Quotes
IPOs/FPOs
Web Stories
Markets Data
Mind Over Money
Cryptocurrency
Crypto Influencers
Crypto Podcast
Crypto Meet
Crypto TV
Crypto Q & A
Expert Speak
Commodities
ViewsNews
OthersMentha OilPrecious MetalsGold MGoldSilverGold PetalSilver MicroSilver
MGold Guinea
Oil & EnergyNatural GasCrude OilCrude Oil MiniBase MetalsAluminiumZinc MiniLead
MiniCopperZincNickelAluminium MiniLeadPlantationKapasCotton Candy


Forex
Forex News
Currency Converter
Live Stream!
Technicals
Technical Chart
Visualize
Screener
More
Expert ViewsMarket MogulsBondsStock GameChartMantra Technicals Trading
GameWebinarsSitemapDefinitions

Business News›Markets›Cryptocurrency›Bitcoin Pizza Day: How one transaction in
2010 led to global crypto adoption?



THE ECONOMIC TIMES DAILY NEWSPAPER IS AVAILABLE ONLINE NOW.

Read Today's Paper


BITCOIN PIZZA DAY: HOW ONE TRANSACTION IN 2010 LED TO GLOBAL CRYPTO ADOPTION?

SECTIONS
Bitcoin Pizza Day: How one transaction in 2010 led to global crypto adoption?
By Edul Patel, ET CONTRIBUTORSLast Updated: May 22, 2023, 04:36 PM IST
Synopsis


BITCOIN PIZZA DAY MARKED THE BEGINNING OF THE REAL-WORLD VALUE OF
CRYPTOCURRENCIES BEYOND A SPECULATIVE NATURE, SHOWCASING BITCOIN'S POTENTIAL TO
BE USED AS A MEDIUM OF EXCHANGE, CHALLENGING TRADITIONAL FIAT CURRENCIES'
NOTION. SINCE THEN, IT EXPERIENCED SIGNIFICANT MILESTONES IN ITS JOURNEY TOWARDS
MAINSTREAM RECOGNITION, SUCH AS ITS METEORIC RISE IN VALUE, GLOBAL ACCEPTANCE,
INSTITUTIONAL INVOLVEMENT, REGULATORY DEVELOPMENTS, DEFI GROWTH, AND MEDIA
COVERAGE. ADDITIONALLY, IT HAS ADDRESSED THE CHALLENGES OF GLOBAL REMITTANCES
AND FINANCIAL INCLUSION, EMPOWERING THE UNBANKED AND UNDERBANKED POPULATIONS. AS
GLOBAL CRYPTO ADOPTION CONTINUES, BITCOIN'S INFLUENCE EXTENDS BEYOND FINANCE,
PROMOTING TECHNOLOGICAL INNOVATION AND DECENTRALIZATION.

Agencies
Bitcoin Pizza Day is a poignant reminder that cryptocurrencies possess
real-world value beyond their speculative nature. It showcased that Bitcoin
could be used as a medium of exchange, challenging the notion that traditional
fiat currencies were the only means of conducting transactions. This realization
opened floodgates for many possibilities, capturing early adopters' attention
and propelling the cryptocurrency movement forward. Since that fateful day,
Bitcoin has come a long way, experiencing significant milestones and gaining
recognition as a revolutionary force in finance and technology.

How did that day spark global crypto adoption?
Price Surge
One of the most prominent examples of Bitcoin's success is its meteoric rise in
value. From being worth just a few cents at its inception, Bitcoin soared to
unprecedented heights, reaching a peak of nearly $65,000 per coin in 2021. This
exponential growth attracted mainstream attention and enticed individual
investors and institutional players to participate in the crypto market.
Currently, Bitcoin tops the list with the highest market capitalization of
around US$518.63 billion.



Global Acceptance
Bitcoin's widespread acceptance has grown steadily over the years. Today,
numerous companies and merchants worldwide accept Bitcoin as a valid form of
payment, ranging from online retailers to major businesses like Microsoft, AT&T,
and Overstock. This growing acceptance has normalized the use of
cryptocurrencies in daily transactions, bridging the gap between digital assets
and the traditional financial ecosystem.

Institutional Involvement
Institutional adoption of Bitcoin has been a crucial milestone in its journey
toward mainstream recognition. Prominent companies and financial institutions
have started embracing Bitcoin, viewing it as a hedge against inflation and a
store of value. For instance, Tesla, led by Elon Musk, invested $1.5 billion in
Bitcoin and announced that it would accept Bitcoin payments for its vehicles.
Additionally, major investment firms such as Fidelity and BlackRock have grown
interested in cryptocurrencies, offering their clients exposure to this emerging
asset class.



Did you Know?

SAP has launched a new enterprise on the Metaverse with the aim of accelerating
cloud adoption among Indian firms. The interactive and immersive ‘cloud on
wheels’ platform will enable customers to experience the full range of SAP’s
offerings and reimagine processes for improved business outcomes.

View Details »
Regulatory Developments
Cryptocurrencies' regulatory landscape has evolved significantly since Bitcoin
Pizza Day. Governments and regulatory bodies worldwide have started recognizing
and establishing digital asset guidelines. For example, El Salvador became the
first country to adopt Bitcoin as a legal tender, further cementing its position
as a viable form of currency. India has implemented taxation on crypto in the
last year and has included them under the Anti-Money Laundering Act. Also,
recently, the European Parliament has launched new regulations called MiCa
(Markets in Crypto Assets), one of the milestone laws. These regulatory
developments provide a more stable and secure environment for individuals and
institutions to engage with cryptocurrencies.

Decentralized Finance (DeFi)
The rise of Bitcoin has spurred the development of decentralized finance
applications. DeFi encompasses a range of financial services built on blockchain
technology, offering users greater control, transparency, and accessibility.
Platforms like Ethereum and Binance Smart Chain have become hubs for various
DeFi projects, including decentralized exchanges, lending protocols, and yield
farming platforms. The growth of DeFi showcases how Bitcoin's success has paved
the way for the broader adoption of decentralized technologies.




Mainstream Media Coverage
Extensive media coverage has aided Bitcoin's journey from obscurity to the
mainstream. Major news outlets now regularly report on Bitcoin, discussing its
price movements, market trends, and broader implications. This increased media
attention has not only fueled public curiosity but has also served as a platform
for educating the masses about cryptocurrencies and their potential impact on
the future of finance. As a result, more people have become aware of Bitcoin and
the underlying technology, attracting a broader audience and facilitating global
crypto adoption.




Global Remittances and Financial Inclusion
Bitcoin has made significant strides in addressing the challenges of global
remittances and financial inclusion. For individuals in countries with limited
access to traditional banking services, Bitcoin provides an alternative means of
sending and receiving funds across borders quickly and at lower costs. By
leveraging the decentralized nature of cryptocurrencies, individuals can bypass
intermediaries and overcome the hurdles associated with traditional remittance
systems. Bitcoin's potential to empower the unbanked and underbanked populations
has garnered attention and support from organizations and initiatives that
promote financial inclusivity.

Conclusion
Bitcoin Pizza Day marked a pivotal moment in the history of cryptocurrencies.
What started as a simple transaction has evolved into a global movement, shaping
the future of finance and technology. Bitcoin's journey has been marked by
significant milestones, from its exponential price growth to institutional
involvement and regulatory developments. As Bitcoin continues to pave the way
for global crypto adoption, its impact extends beyond the financial realm,
driving technological innovation, financial inclusion, and the decentralization
of various industries.

(The author is CEO and Co-founder of Mudrex, a global crypto investing platform)

(Disclaimer: Recommendations, suggestions, views and opinions given by the
experts are their own. These do not represent the views of the Economic Times)


Don’t miss out on ET Prime stories! Get your daily dose of business updates on
WhatsApp. click here!



(Disclaimer: The opinions expressed in this column are that of the writer. The
facts and opinions expressed here do not reflect the views of
www.economictimes.com.)



READ MORE NEWS ON

bitcoinbitcoin pizza daycryptocurrenciescryptocurrencies newscryptocurrencies
transactionglobal crypto adoptionbitcoin prices
(What's moving Sensex and Nifty Track latest market news, stock tips and expert
advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news
alerts on financial markets, investment strategies and stocks alerts, subscribe
to our Telegram feeds.)

Download The Economic Times News App to get Daily Market Updates & Live Business
News.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share
Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
...moreless


IN THE SPOTLIGHT
How FB solutions helped these platforms raise funds

 * Related
 * Most Read
 * Most Shared

 * * Busy bitcoin births new breed of crypto
   * Cryptoverse: Bitcoin traders like their options
   * Cryptoverse: Bitcoin traders like their options
   * Binance resumes Bitcoin withdrawals after temporary closure
   * Cryptoverse: Bitcoin miners escape the bear trap
   * The real-world costs of the digital race for bitcoin
 * 
 * 




MOST SEARCHED STOCKS

Tata Motors Share Price514.8503:59 PM | 25 May 2023-5.35 (-1.03%) ITC Share
Price441.1503:59 PM | 25 May 20237.65 (1.76%) Adani Power Share Price259.1503:59
PM | 25 May 20233.10 (1.21%) Infosys Share Price1304.3503:59 PM | 25 May
20235.70 (0.44%) RIL Share Price2439.9503:59 PM | 25 May 2023-0.30 (-0.01%) TCS
Share Price3293.5003:59 PM | 25 May 2023-9.85 (-0.30%) Tata Steel Share
Price104.8503:59 PM | 25 May 2023-0.35 (-0.33%) YES Bank Share Price15.5003:59
PM | 25 May 2023-0.10 (-0.64%) HDFC Bank Share Price1609.6003:59 PM | 25 May
2023-6.20 (-0.38%) Wipro Share Price394.1003:59 PM | 25 May 2023-5.60 (-1.40%)
Load more..


Trending in Markets

 * Sensex TodayNexus Select Trust REIT IPOCanara Bank Q4 ResultsBank of India Q4
   Results
 * HDFC HDFC Bank MergerAdani Enterprises Q4 ResultsHDFC Q4 ResultsQ4 Results
   Today
 * Tata Steel Q4 ResultsVarun Beverages Q1 ResultsNDTV Q4 ResultsIndian Rupee
 * gold Rate TodayStock Market Holidays 2023CryptocurrencyStock Screener
 * Stock MarketIPOGold RateTop Gainers
 * Rupee vs DollarShare MarketSilver PriceNifty 50
 * Nifty BankInfosys Share PriceCrude Oil Price






LATEST FROM ET

 * Zee-Sony merger may make BCCI wait to sell rights worth billions
 * Reliance completes acquisition of Lotus Chocolate
 * Ola Electric aims to hit D-Street by this year-end




BrowseCompanies:
ABCDEFGHIJKLMNOPQRSTUVWXYZ
123456789

Trending Now

Sensex TodayNexus Select Trust REIT IPOCanara Bank Q4 ResultsMankind Pharma
ListingCoal India Q4 ResultsBank of India Q4 ResultsTata Power Q4 ResultsHDFC
Share PriceHDFC HDFC Bank MergerAdani Enterprises Q4 ResultsHDFC Q4 ResultsFed
Rate Hike ImpactTitan Q4 ResultsSula Vineyards Q4 ResultsShare BuybacksPenny
StocksUS Fed Meet Today

Popular Categories

StocksIPOs/FPOsWeb StoriesMarkets DataMind Over
MoneyCryptocurrencyCommoditiesForexLive Stream!TechnicalsExpert ViewsMarket
MogulsBondsStock GameWebinarsSitemapDefinitions

Hot on Web

Sensex TodayDehradun Delhi Vande Bharat Express News LiveMaharashtra Board 12th
Result 2023 LiveGo First FlightShaktikanta DasIndia GDP GrowthNBSE Result 2023Go
First NewsIndia Covid CasesJiocinema Viewership2000 Denomination
BanknotesKarnataka CM SiddaramaiahKiren RijijuKarnataka CM News LiveAdani
Hindenburg CaseSwiggyET Boardroom Dialogues 2023

In Case you missed it

Sensex TodayNexus Select Trust REIT IPOMankind Pharma ListingCoal India Q4
ResultsFederal Bank Q4 ResultsBank Of India Q4 ResultsHDFC Share PriceAdani
Enterprises Q4 ResultsHDFC Q4 ResultsFed Rate Hike ImpactTitan Q4 ResultsSula
Vineyards Q4 ResultsShare BuybacksUS Fed Meet TodayTata Steel Q4 ResultsAdani
Green Energy Share PriceAdani Green Q4 Results

Top Calculators

Standard Deviation CalculatorIncome Tax CalculatorAge CalculatorTime
CalculatorBMI CalculatorGPA CalculatorStatistics CalculatorFraction
CalculatorDiabetes Risk CalculatorDate CalculatorLog Calculator

Top Searched Companies

RIL Share PriceAdani Green Share PriceTata Steel Share PriceAdani Ports SEZ
Share PriceYES Bank Share PriceLeadmini RateSBI Share PriceAdani Ent. Share
PriceTata Motors Share PriceAdani Power Share Price

Top Definitions

FpoProductRepo RateMapsko Builders Private LimitedCurrency Symbol

Top Story Listing

DangalTcs LayoffsStock Market CrashSgx NiftyEarthquake Today

Top Slideshow

Raw VegetablesAxis BankIcici BankAxis BankHow Rajendra Badwe Is Making Cancer
Treatment Affordable By Repurposing Easily Available DrugsHow Rajendra Badwe Is
Making Cancer Treatment Affordable By Repurposing Easily Available DrugsStock
IdeasStock IdeasIcici BankRaw Vegetables

Top Trending Topics

Zombie VirusMarket Opportunity Worth Usd 50 Bn Exists For Clean Energy Powered
Livelihood Appliances Highlights ReportRape Videos11 Year Old Girl Rape
CaseAdani Group

Private Companies

S V Industries Pvt LtdMebigo Labs Private LimitedPyramid Saimira Theatre Ltd
Share PriceDreamplug Technologies Private Limited

Most Searched Articles

Why Is Dr Doom Nouriel Roubini So Upbeat About Indias EconomyWill Epfo Extend
Last Date To Apply For Higher Pension Under Eps For Eligible EmployeesEpfo
Issues Guidelines For Higher Pension In Eps 95Rs 38000 Crore Play Fiis Bet Big
In 6 Sectors In Last 6 Months Will The Trend ContinueVedanta May Have A Fair
Chance To Run Sterlite Plant Again Sunil Duggal Group Ceo Vedanta LimitedPsu
Banks Now Offer Inflation Beating Fd RatesMedha Alstom Shortlisted Bidders For
Making 100 Aluminium Vande Bharat TrainsAdani Stock Rout Lic Staring At Loss In
Rs 30000 Crore BetTo Keep Vi Going Vendors Keep Their Demands In CheckIndia
Facing Possible Enron Moment Says Larry Summers On Adani Crisis

Trending Articles

Dont Lose Sleep Over Stock Prices Nifty Adani Saga Saurabh MukherjeaAs Isis
Bride Shamima Begum Loses Uk Citizenship Battle Know What Happened To Her
Friends Kadiza Sultana And Amira AbaseHolika Dahan 2023 Know The Date Shubh
Muhurat Puja Vidhi And Significance Check DetailsDemerger Of Nmdc Steel How
Should Investors Approach The StockAdenovirus Infection Symptoms And Other Key
Details About Mysterious Flu That Is Severely Affecting Kids In West Bengal

Top Commodities

Menthaoil RateAluminium RateSilver RateCopper RateGold Rate

Top Prime Articles

Reliance Jiocinema Is Streaming Ipl 2023 For Free Will This Now Disrupt The Ott
BusinessAdani Group Stocks Will Averaging Out Work For Retail InvestorsAfter
Adani Stocks Hindenburg May Have Crashed Into Indias Green Hydrogen Mission
TooNippon India Fund DirectWe Want To Solve The Wazirx Binance Issue Once And
For All Nischal ShettyIs Nifty Next 50 A Good Bet Only If You Are A Super Long
Term InvestorFalling Off The Momentum Why Retail Investors Are Losing Money
After Witnessing A Long RallyIndian It Companies Rode The Cloud Wave As
Hyperscalers Growth Tapers How Will It Impact ThemMens Underwear Sales Are
Falling Should Indian Economy Prepare For A Below The Belt JoltNo 5g Service
Lack Of Fresh Funds Could Further Hurt Vodafone Idea Even As Airtel Jio Leap
Ahead

Top Videos

Google Celebrates Bubble Tea With Interactive Doodle Make Your Own Digital
Bubble TeaDecoding Epfos New Guidelines How You Can Apply For Higher Pension
NowDelhi RiotsPk Rosy Google Honours First Female Lead In Malayalam Cinema With
A DoodleAdani Enterprises Fpo Fully Subscribed Group Survives Hindenburg Attack
With Nii SupportPathaan Box Office Collection Shah Rukh Khan Starrer Movie
Collects Rs 429 Crore Worldwide In 4 DaysGoogle Bard Vs Chatgpt Who Will Win The
Ai Chatbot RaceValentines Day Google Celebrates February 14 The Most Romantic
Day Of The Year With Animated DoodleCaught On Camera 5 Year Old Child Bitten To
Death By Street Dogs In HyderabadFundamentals Of Our Company Are Very Strong Our
Balance Sheet Is Healthy And Assets Robust Gautam Adani After Fpo Call Off

Popular Articles

Rs 67 Crore Profit Nandan Nilekani Family Trust To Mint 370 Return In IpoAdani
Issue Will Move Into Rear View Mirror And May Already Have For The Broader
Market Mark MatthewsA Second Half Stock Market Rally Is Still In Play Despite
RoutRs 10 Lakh Crore Gone 10 Factors Why Sensex Is Down 2400 Points In 7
DaysIndia Likely To Miss 2030 Deadline For Over Half Of Health Sdgs Lancet
StudyNoted Stock Market Analyst Ashwani Gujral Passes Away ReportCarlyle
Aviation Partners To Pick Up 7 5 Stake In SpicejetWhen Will Lic Snap Out Of
Adani Induced Decline Deepak Shenoy AnswersZeel Shares Slump 10 Despite Nclat
Relief Heres WhyEpfo Allows These Eps Members To Apply For Higher Pension Till
May 3 Opens Online Application Link

Top Market Pages

Fully Drawn Advance

ET Verticals

Auto NewsRetail NewsHealth NewsTelecom NewsEnergy NewsIT NewsReal Estate
NewsMarketing & Advertising NewsTechnology NewsCFO NewsIT Security News

More from our network

Pune MirrorBangalore MirrorAhmedabad MirrorItsMyAscentEducation TimesBrand
CapitalMumbai MirrorTimes NowIndiatimesमहाराष्ट्र टाइम्ವಿಜಯ ಕರ್ನಾಟಕGo GreenAdAge
IndiaEisamayIGN IndiaIamGujaratTimes of IndiaSamayam TamilSamayam TeluguMiss
KyraBombay TimesFilmipopMX PlayerNewspaper SubscriptionTimes PrimeColombiaNBT
Gold PodcastEi Samay Gold PodcastMX ShareKaro AppMX TakaTak App

Other useful Links

About UsArchiveSubscribe to ET PrimeBook your Newspaper SubscriptionCall 1800
1200 004 (Toll Free)Create Your Own AdAdvertise with UsTerms of Use & Grievance
RedressalPrivacy policyContact Us
Company Name: Times Internet Limited
Registered Office Address: 9-10,Bahardurshah Zafar Marg, New Delhi - 110002
Corporate Identity Number: U74999DL1999PLC135531
Customer Support Team: care@etprime.com
Grievance Officer: Deepak Ajwani
Email: grievance.et@timesinternet.in
RSSDNPA Code of EthicsDo not sell my infoDelete DataLongwalks App

Copyright © 2023 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint
rights: Times Syndication Service



Stories you might be interested in

Subscribe to ourET Investment Opportunities
SUBMIT
BACK TO TOP
X
Contact Us

Loading
Please wait...