Coinbase, one of the leading cryptocurrency exchanges, faced severe backlash from the Bitcoin community for its controversial celebration of Bitcoin Pizza Day, opting to accept payments exclusively in USDC (USD Coin) instead of Bitcoin.

On May 22, Coinbase marked the occasion by launching the Coinbase Pizza Truck in New York, offering pizza slices for $1. However, the decision to accept only USDC, a stablecoin issued by Circle and Coinbase's affiliate, instead of Bitcoin, ignited a storm of criticism within the crypto community.

While Coinbase may have intended to showcase the efficiency and cost-effectiveness of stablecoin payments, many Bitcoin enthusiasts saw the move as a snub to the very cryptocurrency being celebrated on Bitcoin Pizza Day.

Despite the uproar, neither Coinbase nor its founder Brian Armstrong issued any public statements addressing the controversy. Some attempted to defend Coinbase's stance, pointing out the lower transaction costs associated with stablecoins compared to traditional payment methods.

However, critics argued that Coinbase could have accepted Bitcoin payments via the Lightning Network, a layer-2 solution known for its cheaper transaction fees. This option, they contended, would have aligned better with the spirit of Bitcoin Pizza Day while still showcasing the benefits of low-cost cryptocurrency transactions.

Bitcoin Pizza Day commemorates the historic transaction in 2010 when programmer Laszlo Hanyecz famously paid 10,000 BTC for two pizzas, marking one of the earliest real-world uses of Bitcoin as a medium of exchange. The event symbolizes Bitcoin's evolution from a niche digital asset to a globally recognized form of currency.