More

    How Using Bitcoin to Pay for Food & Coffee Would Play a Huge Role in the Next Bull Market

    • Bitcoin Adoption skyrocketing: After Starbucks, WholeFoods, now accepted at AT&T
    • This means marketing exposure that adds to the “Bitcoin SoV borg effect”AT&T, American cell network operator has become the latest one to accept Bitcoin as an online payment option, which has been made possible by BitPay.

    Becoming the first major US mobile carrier to offer cryptocurrency payment options to customers, the company would allow customers to pay their bills online.

    In its press release, Kevin McDorman, the vice president of the AT&T’s business operations said,

    “We’re always looking for ways to improve and expand our services… We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.”

    However, as they will be using BitPay to process the payments, they will simply be receiving dollars and no one will be any wiser.

    Earlier last week, Bitcoin gained immense adoption when the Winklevoss owned digital currency company, Gemini partnered with Flex, a payments startup to start a retail initiative. Per this, big-name retailers like Amazon-owned Whole Foods, Starbucks among others started accepting Bitcoin among other digital assets.

    Multi-award winning Swiss online retailer Digitec Galaxus AG and Avnet, a Phoenix-based electronic components supplier are also the retailers that are accepting Bitcoin.

    But, given the fact that Bitcoin is very volatile in nature and is expected to skyrocket in value just like it did in its previous bull cycle, going to $20,000, it is unlikely that people would use their Bitcoin to pay for coffee or food, at least not many.

    The majority who own Bitcoin won’t be spending them but the mainstream adoption like these will also work in favor of Bitcoin’s value as analyst Willy Woo explains,

    “For every person who pays a few bucks with BTC, which produces sell pressure on the market, thousands more will see it and consider buying a few thousand dollars of BTC as investment.”

    A heightened awareness would definitely be the result of these adoptions, playing a role in the next bull market.

    “$5 of sell pressure meets $1000s of dollars of buy pressure. Timed for the bull market no less,”

    added Woo.

    As succinctly put by Woo, Bitcoin payments accepted by large mainstream retailers means marketing exposure and that adds to the “Bitcoin SoV borg effect.” And in order to be a currency, Bitcoin first must be an SoV borg.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,366FansLike
    2,784FollowersFollow
    4,136FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    General Motors (GM) Files Blockchain-Based Map Network Patent for Autonomous Vehicles

    General Motors (GM) plans to build a self-updating navigation system on blockchain to allow use across “specific roads” on autonomous vehicles. In a newly...

    BTC Proposes a Greater Value Than Gold; $670M Transferred For 26 Cents Within Its Network

    Bitcoin’s value proposition in fund transfers is so far one of the most cost-friendly avenues to send money globally. A recent transaction within its...

    COVID-19's Impact On The Economy Claims Another Business as Cambrial Capital to Shut Down

    Cambrial Capital which focuses on a Crypto fund of funds is set to shut down its operations in the near future according to insiders...

    Apple’s New Intelligent Prevention Tracking (ITP) on iOS Threatens Burner Wallets Existence

    Apple’s recent upgrade on the Safari WebKit might soon phase out the convenience of burner wallets within the cryptocurrency space for its users. ...

    Galaxy Digital's Mike Novogratz: This Is The Year For BTC Or I Might ‘Hang Up My Spurs'

    Bitcoin proponent, Mike Novogratz is still “most excited” about the world's leading cryptocurrency but “if it doesn't go all out by the end of...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.