On May 22, 2024, Coinbase stirred controversy by celebrating Bitcoin Pizza Day with a unique twist in New York, selling pizza slices for $1 exclusively in USDC, not Bitcoin. This move sparked outrage among Bitcoin enthusiasts, as the day commemorates the first real-world Bitcoin transaction in 2010, when Laszlo Hanyecz bought two pizzas for 10,000 BTC, now valued at around $700 million. Critics suggested Coinbase could have utilized the Lightning Network for Bitcoin transactions, offering low fees alongside showcasing crypto advancements. Despite the backlash, the company highlighted USDC’s low transaction costs as a modern payment advantage. This incident emphasizes the evolving nature of cryptocurrency as a payment method, spotlighting the ongoing debate between preserving tradition and embracing innovation.
