Accepting Bitcoin for your business just like Tesla: Report
2022.06.16 21:00
Accepting Bitcoin for your business just like Tesla: Report
Tesla (NASDAQ:TSLA) temporarily embracing Bitcoin (BTC) as a method of payment for its products was conceivably one of the catalysts that pushed asset prices to record highs last year and put the spotlight on crypto legitimacy — particularly in the realm of payments. Moreover, crypto enthusiasts had lauded the fact that Tesla even set up its own node to accept BTC and stated that it wouldn’t swap its holdings for fiat, implying high confidence in the crypto’s long-term prospects.
But despite having backtracked and ceased its Bitcoin acceptance a few months after due to climate concerns, Tesla was only a cog in the adoption machine of 2021. Starbucks (NASDAQ:SBUX), Whole Foods and AMC Entertainment (NYSE:AMC) were just some of the other juggernauts that made their foray into crypto last year. However, what’s apparent is that headlines play favorites to household names. For other businesses that want to hop on the trend, it’s a question of how to start.
