Community outraged after Coinbase chooses USDC over Bitcoin for Bitcoin Pizza Day celebrations
In a move that has sparked controversy within the Bitcoin community, cryptocurrency exchange Coinbase faced backlash for its decision to sell pizzas exclusively for USDC (the stablecoin issued by Circle) instead of Bitcoin during its celebration of Bitcoin Pizza Day. On May 22, Coinbase rolled out the Coinbase Pizza Truck in New York, offering pizza slices for $1, but only accepting USDC as payment. This decision, while aimed at showcasing the efficiency of stablecoin payments, fueled furious outrage among Bitcoin enthusiasts who felt that Bitcoin should have been the accepted currency for the occasion. Despite the outcry, Coinbase and its founder Brian Armstrong have not issued any public statements regarding the matter. Critics argued that Coinbase could have accepted payments in Bitcoin through the Lightning Network, a solution known for its cheaper transaction fees. Bitcoin Pizza Day marks the anniversary of the first documented commercial transaction using Bitcoin, where 10,000 BTC was famously exchanged for two pizzas, symbolizing the beginning of Bitcoin’s journey towards mainstream acceptance.