Cryptocurrencies have been around for over a decade, and their popularity continues to grow. While many people still view cryptocurrencies as a speculative investment, more and more businesses are recognizing their value and adopting them as a form of payment. Here are some examples of businesses that have taken the leap and started accepting cryptocurrencies.
1. Overstock.com
Overstock.com was one of the first major retailers to accept Bitcoin as a form of payment. The online retailer started accepting Bitcoin in 2014, and has since expanded to accept other cryptocurrencies like Ethereum, Litecoin, Dash, and Bitcoin Cash. Overstock.com’s CEO, Patrick Byrne, has been a vocal advocate for cryptocurrencies and blockchain technology.
2. Microsoft
In 2014, Microsoft announced that it would accept Bitcoin as a form of payment for its digital products, including games, apps, and movies. While the company temporarily suspended Bitcoin payments in 2018, it has since resumed accepting the cryptocurrency.
3. Shopify
Shopify, an e-commerce platform used by over one million businesses, started accepting Bitcoin in 2013. The company has since expanded to accept other cryptocurrencies like Ethereum, Bitcoin Cash, and Litecoin. Shopify also offers integrations with cryptocurrency payment processors like Coinbase and BitPay.
4. Subway
In 2013, Subway became the first major fast food chain to accept Bitcoin as a form of payment. The sandwich chain accepted Bitcoin at a location in Allentown, Pennsylvania, as part of a promotion with the payment processor BitPay.
5. Tesla
In February 2021, Tesla announced that it had invested $1.5 billion in Bitcoin and would start accepting the cryptocurrency as a form of payment for its electric vehicles. The move was seen as a major endorsement of cryptocurrencies by a mainstream company.
These are just a few examples of businesses that have adopted cryptocurrencies as a form of payment. As more companies recognize the benefits of cryptocurrencies, it’s likely that we’ll see even more businesses start to accept them in the future.