Companies-PayPal and Starbucks accepting bitcoin and other cryptocurrencies as payment
Not often does a news cycle go by without some reference to bitcoin's rising popularity, from fans and skeptics alike.
Its prices on trading exchanges fell around Thanksgiving last year-only to roar back and set a record high of $19,857 on November 30: a 177% year-to-date upsurge that put the S&P 500's 14% rise to shame, as Insider formerly reported.
The previous month, the cryptocurrency hit an all-time high, with prices flowing to $60,000. One chance of the increase meant that two pizzas bought by crypto star Laszlo Hanyecz would have efficiently been worth $613 million.
Bitcoin's instability is well-publicized and has led various investors, including Warren Buffet, to criticize it and other cryptocurrencies as "risky" and "valueless." Such warnings have not discouraged more companies from tolerant the currency as an official payment choice.
In February, Elon Musk proclaimed that Tesla would accept bitcoin as a form of payment for all mockups of its cars in the US. In tally, Twitter's CEO and founder, Jack Dorsey, teamed up with Jay-Z for a bitcoin donation. The pair will invest 500 bitcoins to grow the currency in India and Africa.
Even though Tesla stole the headlines, there are also hundreds of other prominent companies that accept cryptocurrency as a valid form of payment, across numerous industries.
More companies, counting PayPal and Starbucks, are accommodating bitcoin and other cryptocurrencies as payment, notwithstanding volatility warnings.
Yum Brands, which functions Pizza Hut, KFC, Taco Bell, and The Habit Burger Grill, is also longsuffering cryptocurrencies.
The corporation allowed bitcoin as a valid payment technique at Pizza Hut Venezuela last year. Yum Brands also partnered with CryptoBuyer to pledge the launch of crypto payment methods, rendering to Nasdaq.
For a small period, KFC Canada accepted the cryptocurrency as payment for yields such as the Bitcoin Bucket, through a partnership with BitPay, per Yahoo Finance.
CBW - External Analyst