Cooperate Giants Getting On The Crypto Bandwagon Is A Massive Boost For The Widespread Crypto Adoption
The cryptocurrency space has come a long way from its early days when it was predominantly considered as another bubble waiting to burst. A majority of the corporate world kept a safe distance from the crypto space hoping for the market to crash. However, things started to change with the phenomenal rise of Bitcoin in 2017, when it garnered a ton of media attention.
The crypto winter that followed the rise of 2017 was the turning point for the crypto space, as during this time major corporate players and financial institutions realized the potential in the technology and started to look for ways to incorporate in their system.
In 2019, the world is more bullish towards Bitcoin and cryptocurrencies than it has been ever before. 2019 saw some of the major adoptions by large corporate giants. Let us look at some of the major gainst who has finally got onto the crypto bandwagon after observing the space for a long time.
AT&T Starts Accepting Bitcoin Payment
AT&T, one of the largest US carrier service provider valued at $234 billion announced its partnership with Atlanta-headquartered BitPay. The partnership would allow AT&T users to pay their bills in Bitcoin. This also makes the mobile carrier one of the largest corporate giants to start accepting Bitcoin payments.
Kevin McDorman, vice president of AT&T Communications’ Finance Business Operations unit commented on the recent decision by the firm to vail services for cryptocurrencies,
“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.”
The announcement by the AT&T garnered a ton of media attention also gave fire to the speculation about a potential bull run in the market. The partnership has also strengthened the belief that Bitcoin is the leading global money without any geographical borders. Bitcoin has been mimicking its 2017 peak trends in recent times, and these major adoptions are only going to push it to new price highs.
Crypto Adoption At An All-Time-High
AT&T's announcement about accepting Bitcoin as a payment for its services was not the only major adoption for the pioneers of the crypto space. Tor, the famous privacy-entered web -browser also unveiled a donation jar that accepts cryptocurrencies earlier this year.
Avnet, one of the leading electronic component recently partnered with Bitpay to start accepting crypto payments. Stakeholders at Avnet sees the partnership as a step towards the future, and also use the advantages of cryptocurrencies like faster transaction speeds and lowe transaction fee to provide benefit to its customers.
Square, a payment system which allows its users to spend their Bitcoin as a daily driver of use is headed by the Twitter CEO Jack Dorsey. Similarly, a new startup Flex is planning to launch stable coins for Bitcoin, Bitcoin Cash, Ethereum, and Gemini which can be spent at 30,476 retail outlets.
These are only a few notable names that have made big headlines, and the real adoption picture could be much bigger than what this post can accommodate. Although a majority of tech giants are more bullish on the underlying technology of Blockchain, the crypto adoption is surely going to help that cause even more.