In a video posted to Twitter, Pompliano explained that 100 percent of the profits from the new endeavor will go towards the Human Rights Foundation’s Bitcoin Development Fund, launched to help support open-source software developers 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.
— Pomp ? (@APompliano) May 18, 2021
The initiative is partnering with local pizzerias and chains in 10 cities, including New York City, Boston, San Francisco, Seattle, Los Angeles, Miami, Houston, Austin, Chicago and Washington, D.C. The first pizzas will be delivered on May 22 and will run through May 29.
“Bitcoin Pizza is the first decentralized pizza brand uniting our favorite neighborhood pizzerias under one roof to take on Big Pizza,” the website states.
Pompliano explained that the idea was inspired by developer Laszlo Hanyecz, who purchased a pizza for 10,000 bitcoins back in 2010. In his honor, May 22 is now referred to as “Bitcoin Pizza Day.” Currently, one bitcoin is equal to roughly $43,000 USD, and Hanyecz’s purchase would now be worth roughly $434.7 million USD.
While real-world applications for Bitcoin and other cryptocurrencies continue to expand, the coin dropped earlier this week after Tesla CEO Elon Musk announced that his electric car company would no longer accept Bitcoin as a payment for new vehicles.