More and more establishments are accepting Bitcoin as payment. In 2023, the number of these stores has tripled.

Bitcoin Adoption Surges: Over 6,000 Stores Worldwide Now Accept Bitcoin

Bitcoin adoption is on the rise, with over 6,000 stores worldwide now accepting Bitcoin as a form of payment. This marks a significant increase from the previous year, where only 2,000 stores accepted Bitcoin. According to BTC Map, the current tally stands at 6,332 stores accepting Bitcoin as of January. The data further reveals that out of these stores, 5,535 accept on-chain payments, 5,107 accept Lightning payments, and 1,050 support contactless payments.

However, while the adoption of Bitcoin among merchants is growing, there’s a contrasting trend in the number of Bitcoin ATMs. For the first time in a decade, there has been a decline in the number of Bitcoin ATMs globally. According to Coin ATM Radar, the total number of Bitcoin ATMs decreased by 11% from 37,827 in early 2023 to 33,622 in early 2024. This decline was particularly pronounced in the United States, where the number of Bitcoin ATMs dropped from 32,672 to 27,621 during 2023. Despite this overall decrease, certain regions, including the European Union, Canada, Australia, Spain, and Poland, saw a slight increase in the number of Bitcoin ATMs installed.

SEC Considers Bitcoin ETF Approval Amidst Rising Interest in Cryptocurrency

The United States is witnessing a surge in both the number of stores accepting Bitcoin and the interest in Bitcoin exchange-traded funds (ETFs). The Securities and Exchange Commission (SEC) is currently reviewing proposals for Bitcoin ETFs, a move that underscores the growing acceptance of cryptocurrency in traditional finance.

As the SEC approaches its January deadline for the decision, there’s significant anticipation within the cryptocurrency community. Ten individuals will vote on whether to approve the creation of Bitcoin ETFs. If approved, these ETFs could start trading as soon as the following day, potentially in January. This development holds significant implications for the perception and trading of digital assets within the financial industry.

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