Bitcoin's increasing popularity is rarely reported in the press, whether from supporters or critics.
Its trading exchange prices plummeted around Thanksgiving last year, only to roar back to an all-time high of $19,857 on November 30: a 177 percent year-to-date gain that dwarfed the S&P 500's 14 percent gain, as Insider previously reported.
The cryptocurrency then reached an all-time peak last month, with prices surging to $60,000. Because of a quirk in the rise, two pizzas purchased by crypto legend Laszlo Hanyecz would have been worth $613 million.
Because of Bitcoin's high volatility, many investors, including Warren Buffet, have labeled it and other cryptocurrencies "risky" and "worthless.
" However, such alerts have not deterred more businesses from adopting the currency as a form of official payment.
Elon Musk revealed in February that Tesla would accept bitcoin as payment for all versions of its cars in the United States. Furthermore, Twitter's CEO and founder, Jack Dorsey, collaborated with Jay-Z to establish a bitcoin endowment. The two will invest 500 bitcoins in India and Africa to help the currency grow.
Hundreds of other prominent businesses across different industries recognize cryptocurrency as a legitimate means of payment, despite Tesla capturing the headlines.
Fast food:
One of the world's largest fast-food holding companies is Restaurant Brands International. Burger King, Tim Hortons, and Popeyes are all owned by this corporation.
Burger King Venezuela revealed last year that it will start accepting bitcoin and other cryptocurrencies. It worked with Cryptobuyer, a network that converts cryptocurrencies to fiat currency, according to Yahoo Finance.
Yum Brands, the parent company of KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, is also accepting cryptocurrency payments.
Last year, the company accepted bitcoin as a legitimate payment method at Pizza Hut Venezuela. According to Nasdaq, Yum Brands have collaborated with CryptoBuyer to kick off the launch of crypto payment methods.
According to Yahoo Finance, KFC Canada accepted bitcoin as payment for items like the Bitcoin Bucket for a limited time through a collaboration with BitPay.
Big tech:
Xbox is again accepting bitcoin payments for Xbox store credits, after temporarily suspending the cryptocurrency as a legitimate payment method due to its uncertainty.
Meanwhile, according to Yahoo Finance, PayPal revealed in October 2020 that users will be able to purchase, sell, and retain select cryptocurrencies via their Cash or Cash Plus accounts beginning in 2021.
Inside the PayPal app, users will be able to learn about and monitor cryptocurrency.
Although Amazon does not embrace bitcoin as a payment method, Bitrefill allows you to purchase Amazon coupons and gift cards. This is a cryptocurrency-only business that enables customers to top up subscription-based services with cryptocurrency until investing it on Amazon.
Drinks companies:
In the Asia Pacific region, Coca-Cola Amatil is one of the largest bottlers and distributors of non-alcoholic and ready-to-drink beverages.
In a press release last year, the company announced a collaboration with Centrapay, an online assets network. It was able to accept bitcoin as an official payment method as a result of this. According to a CoinDesk survey, about 2,000 vending machines in Australia and New Zealand now accept cryptocurrency.
According to Nasdaq, Starbucks started testing bitcoin payments through the Bakkt app last year.
The digital asset marketplace app introduced their digital wallet app this week, allowing users to turn bitcoin into US dollars and reload their Starbucks cards.
Image source: https://crypto-economy.com
