New Crypto Adoption Data Says 14,113 Businesses Accept Bitcoin Compared to 1,789 in December 2013
Bitcoin has recently been placed under the microscope by various social media trends as well as by global financial institutions.
The crypto, which also happens to be the largest in the world has been placed under a spotlight by various individuals and entities despite the fact that it has been significantly affected by the ongoing bear market. For instance, Jack Dorsey, the Twitter CEO recently referred to Bitcoin as the official internet legal tender.
BTC enthusiasts will be glad to learn that its global adoption rate continues to increase with each passing year. Coinmap recently charted data that pointed out the fact that the total number of venues which accept bitcoin as a payment method has risen by up to 702% since the early days of December 2013.
As a cryptocurrency, this is quite a fete and is indicative of the journey that it has undertaken since it was launched. A heat map was recently launched to track and map the number of venues that accept crypto payments across the globe.
In the map, you can see that there is an overall increase in the total number of venues and businesses that have legally started accepting crypto payments across the world. As of December 2018, the venues accepting Bitcoin payments across the world stood at an impressive 14,113.
By the end of 2013, the number of entities accepting Bitcoin payments across the world stood at 1,789. Based on these figures, it means that percentage wise, the entities accepting Bitcoin have increased by an impressive 702.35%.
You should note much of the growth can be seen in businesses and organizations that have agreed to trade their wares and services in exchange for Bitcoin coins based on total market capitalizations. These are sectors that have recorded exponential growth and have in the past five years displayed big BTC surges.
South America happens to be the one part of the world where there has been a dramatic rise in the number of entities accepting this cryptocurrency. Ecuador, Colombia, and Venezuela have been leading the other nations in South America in adopting Bitcoin payments.
However, the heat map also suggests that many areas in South East Asia and in China are yet to formally adopt this cryptocurrency. This is something that may have been influenced by the strict regulations put in place by countries in this region pertaining the use and adoption of cryptocurrency.