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AT&T, the largest telecommunications company around the world, has recently announced that it will be accepting Bitcoin (BTC) as a payment for services such as bills. The information was released by the company in a recent press release. This is going to be very positive for crypto adoption and it is expected to have an impact in the usage of virtual currencies.
AT&T Starts Accepting Cryptocurrencies
Customers of AT&T will now be able to pay their bills in Bitcoin (BTC) or Bitcoin Cash (BCH) by using BitPay at the time of paying. The firm is one of the largest in the world with 150 million subscribers as of Q4 2018.
The vice president of AT&T Communications Finance Business Operations commented about this new payment method for users:
“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.”
As soon as users log on to their accounts online or while using myAT&T app, they will be able to select the BitPay option for payments. At the moment, it will not be possible to buy goods or signing new service contracts. However, this can change in the future depending on the results of the current implementation.
This shows that there is a growing trend in cryptocurrency adoption around the world. A few days ago, Flexa network and the SPEDN app informed that they were going to be accepting virtual currencies in some brands such as Whole Foods, Lowe’s and also Nordstrom.
Moreover, Starbucks is currently working in a system that would allow Bitcoin enthusiasts to pay using digital currencies. Nonetheless, there is an obstacle for Bitcoin adoption, which is related to tax treatment and how regulatory agencies consider cryptocurrencies.
Although this is going to be positive for fundamentals behind Bitcoin, in the past, many companies that were accepting crypto payments decided to stop offering services for these digital assets. Back in 2018, the crypto market was in a bear trend and the sentiment was very negative towards virtual currencies.
During the last few weeks, Bitcoin was able to grow over 100% from $4,000 to over $8,000. At the time of writing this article, Bitcoin is increasing its price by 4.83% in the last 24 hours. Each coin can be purchased for $8,000 and it has a market capitalization of $141 billion.
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