Bitcoin $BTC▲1.01% – the original cryptocurrency – has been around for a decade, but it’s still struggling to achieve mainstream adoption despite some major companies accepting it as a payment method.
I remember when Overstock.com became the first major online retailer to start accepting Bitcoin in January 2014, sending ripples of excitement across the space.
And although many businesses have followed suit since then, I’m wondering why doing so is still considered news.
Good news for Bitcoin?
On the surface, yesterday could have been a good day for Bitcoiners across the globe.
First, Digitec and Galaxus – one of Switzerland’s biggest retailers – announced it would accept payments in a host of cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin.
Then, Avnet, credited with being one of the world’s largest distributors of electronic components, said it would enable cryptocurrency payments thanks to a partnership with payment processor BitPay.
US-based Avnet claims it’s already received “several multi-million-dollar cryptocurrency transactions within the first month of accepting Bitcoin,” but undoubtedly this will pale in significance when compared to fiat payments.
I can understand why a company accepting Bitcoin payments would make headlines, say, five years ago when the industry was way more niche, but why are we still writing about this in 2019? And more importantly, what does it say about the state of the industry?
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