The pioneer in making Bitcoin as an alternative to make payments officially would have to be Tesla, and thanks to the efforts and tweets of Elon Musk supporting the cause and effect of cryptocurrencies, especially Bitcoin, plenty of others have also chipped in. In January, Tesla purchased about $1.5 billion worth of Bitcoin and, nearing that conclusion, added Bitcoin as one of the payment methods. This was the first time an official business or company with shares being traded in the stock market embraced Bitcoin.
Bitcoin Adoption on the Rise in the Financial Sector
Later on, the COVID-19 hit the financial world pretty hard. In these trying times, Expedia, one of the leading travel agencies in the world, stated that it would be joining hands with Bitcoin to facilitate its worldwide clientele. But Expedia essentially went with Coinbase as it had recently started offering Bitcoin on its platform. Later on, it was Apple that became a burning member of the initiative and announced that the customers can now spend their Bitcoin with the help of Apple pay and other than that, the BitPay cards can also be added into the Apple wallet, this clearly emphasizes on such rapid growth of cryptocurrency in the financial sector and its amazing adoption as well.
The list goes on and on, and as more intensive financial organizations continue to embrace Bitcoin as their ultimate payment method, it can be said that the decentralized future might be near than ever. PayPal, an American financial payment system, has recently provided its users with an option through which they can add Bitcoin into their PayPal account and use this for online purchases and such; other than that, they will be able to buy, sell and hold not just Bitcoin but several other cryptocurrencies as well. Rakuten, a Japanese-based electronic eCommerce store, has just started to accept Bitcoin as the payment option. It is simply warming up the engines as Coca-Cola has also partnered up with a digital asset firm known as Centrapay, allowing them to have Bitcoin as their payment option.