Since its creation in 2009, Bitcoin has gone from an innovative yet obscure decentralized digital currency to one with a market cap of more than $800 billion. In fact, one single token was worth more than $42,000, as of September 21, 2021.
The currency has also increasingly gained mainstream adoption over the years. Microsoft and PayPal began accepting Bitcoin payments in 2014. Tesla, in February 2021, purchased $1.5 billion worth of the cryptocurrency and announced it would accept it as payment for its vehicles. Below is a look at six companies that accept Bitcoin.
Although many consider Microsoft and PayPal as the first major companies to accept Bitcoin, Overstock had already ventured into the decentralized payment space nine months prior. The online retailer started accepting Bitcoin in January 2014 via a partnership with Coinbase. It also invested substantially in blockchain technology. The headline of a CNN story in 2018 said Overstock is “basically a crypto company now.”
Burger King outlets in Venezuela began accepting Bitcoin in 2020. They also accepted altcoins such as Litecoin, Ethereum, and Dash thanks to a partnership with Cryptobuyer. Burger King first ventured into the crypto space the year prior when its German branch accepted Bitcoin for online delivery orders on the Lieferservice app. Subway and Pizza Hut are among the other fast food chains with select outlets that accept Bitcoin.
Twitch, which is owned by Amazon, is a leading video game streaming platform that allows users to pay for channel subscriptions with Bitcoin and Bitcoin Cash. The company removed this option from its payments section in March 2019 amid months of sideways trading for Bitcoin, but added it back in June of that year.
Whole Foods is another Amazon-owned company that accepts Bitcoin as payment. The national retailer is able to seamlessly accept Bitcoin using digital scanners in the same way it would accept payments via Apple Pay and other digital wallets. This was made possible due to a partnership between Flexa and Gemini that provided the necessary technology for major retailers to make Flexa’s payment processing platform compatible with digital scanners.
In 2019, the NFL’s Miami Dolphins announced that it would begin accepting Bitcoin and Litecoin as payment for its 50/50 raffle. The NBA’s Dallas Mavericks took things a step further later that year with the announcement that it would allow fans to use Bitcoin to purchase game tickets and team merchandise. Mavericks owner Mark Cuban is a major proponent of cryptocurrency and is particularly bullish on dogecoin.