In an effort to showcase affordable payments using USDC, Coinbase faced criticism from the Bitcoin community for not selling pizzas for BTC during Bitcoin Pizza Day.

Cryptocurrency exchange Coinbase encountered backlash for its unconventional celebration of Bitcoin Pizza Day, choosing to sell pizzas exclusively for USDC instead of Bitcoin. This decision sparked controversy among Bitcoin enthusiasts.

On May 22, Coinbase initiated its celebration by launching the Coinbase Pizza Truck in New York, offering pizza slices for $1. The catch was that the exchange only accepted USDC, a stablecoin issued by Circle, as payment, leading to discontent within the Bitcoin community.

This Bitcoin Pizza Day, we’re celebrating how far crypto has come since 2010 in helping to create a cheaper, faster system.
Welcome to the Coinbase Pizza Truck.
$1 USDC slices.
Payment easy as pie.
Washington Square Park, NYC
12-5PM EST
Stop by if you’re in town.

While Coinbase’s move aimed to highlight the efficiency and transparency of stablecoin payments, excluding Bitcoin on its special day led to significant criticism.

I didn’t know it was USDC pizza day. Thanks Coinbase for keeping it classy on Bitcoin pizza day.

Despite the backlash, neither Coinbase nor its founder Brian Armstrong issued public statements regarding the matter at the time of reporting. Former TechCrunch reporter Jacquelyn Melinek defended Coinbase’s focus on USDC, citing lower transaction costs for businesses.

Some people complained about Coinbase selling pizza with USDC instead of bitcoin on Bitcoin Pizza Day. I get the principle, but there’s a bigger message here: buying pizza with USDC makes transaction costs for business a few cents vs the usual 3% card fee.

However, critics argued that Coinbase could have also accepted payments in Bitcoin through the Lightning Network, a layer-2 solution known for cheaper transaction fees, which the exchange has been promoting for “low-cost BTC transfers.”

Starting today, support for the Lightning Network via @lightspark will begin rolling out.
Enjoy instant, low-cost BTC transfers.

Bitcoin Pizza Day celebrates the first documented commercial transaction using Bitcoin. On May 22, 2010, a programmer named Laszlo Hanyecz famously paid 10,000 BTC (currently valued at around $700 million) for two pizzas, marking one of the earliest real-world transactions involving the cryptocurrency. This event is now celebrated annually as Bitcoin Pizza Day, symbolizing Bitcoin’s journey towards mainstream acceptance as a form of currency.

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