Bitcoin (BTC) experienced a relatively calm day in trading on Wednesday, as the global crypto community commemorated the annual event known as "Bitcoin Pizza Day." After a significant surge in value on Monday, reaching $71,360, Bitcoin exhibited a brief period of retreat, reflecting typical price fluctuations in the volatile cryptocurrency market.

Bitcoin Pizza Day, observed annually on May 22nd, commemorates the historic occasion of the first documented real-world Bitcoin transaction. Fourteen years ago, on May 22nd, 2010, programmer Laszlo Hanyecz made history by exchanging 10,000 Bitcoins (now valued at over $703 million) for the delivery of two Papa John’s pizzas to his doorstep. This transaction, though seemingly trivial at the time, symbolizes a pivotal moment in Bitcoin's journey toward mainstream adoption.

To celebrate this significant event, cryptocurrency enthusiasts worldwide convened for various celebrations, including in-person meetups, virtual gatherings, and social media campaigns. Businesses such as restaurants, cafes, and online retailers also joined the festivities by offering special deals and discounts to patrons using Bitcoin wallets.

Crypto personalities took to social media to share their sentiments on Bitcoin Pizza Day. Binance CEO Richard Teng highlighted the industry's growth and evolution over the past decade, emphasizing the increasing utility of cryptocurrencies beyond pizza purchases.

"Happy Bitcoin Pizza Day, everyone! Today reminds us of how young our industry is, yet how much we've grown and evolved. You can now buy a lot more than just pizzas with crypto!" wrote Teng.

Bitcoin maximalist Michael Saylor expressed gratitude to Laszlo Hanyecz for his pioneering transaction and wished the community a happy Bitcoin Pizza Day.

Crypto exchanges also joined the festivities, with some like Gemini, Bybit, and Coinbase offering giveaways and promotions to engage users and celebrate the occasion.

Bitcoin Pizza Day serves as a poignant reminder of the transformative potential of cryptocurrency and blockchain technology. Bitcoin's acceptance as a means of payment by millions of businesses worldwide, along with recent developments such as El Salvador adopting Bitcoin as legal tender, underscores its growing significance in global finance.

Moreover, Bitcoin's rising popularity has attracted attention from political and regulatory spheres. Candidates in the upcoming US presidential election are vying for support from the crypto community by pledging improved crypto incentives and accepting Bitcoin donations for what is now widely referred to as the "First Bitcoin Election."