Papa John’s explains why he donates 10k slices on Bitcoin pizza day
- Papa John’s is donating 10,000 slices to commemorate Bitcoin Pizza Day.
- The origins of the day can be traced back to a purchase of Papa John’s pizza made by Laszlo Hanyecz.
- The channel’s SVP told Insider his giveaway was an extension of his connection to bitcoin history.
- See more stories on the Insider business page.
Papa John’s donates 10,000 slices of pizza to commemorate 10,000 bitcoins paid for two by Laszlo Hanyecz in 2010.
Justin Falciola, SVP, director of analytics and technology, told Insider about the strategy thinking.
He said: “Celebrating National Bitcoin Pizza Day was a natural extension of Papa John’s historic connection to the history of bitcoin. We always strive to have fun as a brand, and we hope to give a nod eye to this legendary tale will bring joy to our customers. “
He continued, “It’s great for mainstream brands to show that they are aware of emerging trends and technologies. The benefit is meeting consumers where they are and continuing to make a meaningful connection.”
When asked what the future holds for bitcoin, Falciola said, “While we can’t say for sure, we’ve always prioritized forward thinking and new technological advancements in the food and beverage industry. drinks, so we are interested in seeing the direction of payment and ordering. processes take years to come. “
The link between pizza and bitcoin was seen earlier in the week when crypto investor Anthony Pompliano launched a bitcoin-themed pizza service in the United States which will not accept the digital asset as a payment method.
Like Insider’s Shalini Nagarajan reported, the service will partner with independent pizzerias in 10 cities across the United States, but will not accept bitcoin payments. All proceeds will be used to support Bitcoin’s research and development, Pompliano said.
While there is still a lot of optimism around bitcoin and other cryptocurrencies, there are also concerns about their future. Earlier this week, the crypto market lost 47% of its value in just seven days, as Insider reported.
The market capitalization of global digital currencies rose to $ 1.35 trillion on Wednesday, from a recent high of $ 2.56 trillion on May 12, according to data from CoinMarketCap.com.