It looks like the trend of bitcoin being used as a method of payment is being taken to new heights. Now that companies like Tesla and PayPal are permitting bitcoin payments for goods and services, several additional companies around the world – both large and small – are allowing BTC payments as well.
Bitcoin Is Now the Hot Method of Payment
One of the enterprises saying “yes” to bitcoin payments is the Bobby Hotel. Based in Nashville, Tennessee, it is the first hotel in the state to permit crypto for use as payment for rooms and other travel services. If the user chooses not to utilize bitcoin, they can also pay for items with Ethereum, Dogecoin and assorted stable currencies to satisfy their travel needs.
Jeff Crabiel – area general manager of the Bobby Hotel – said in an interview:
As bitcoin and cryptocurrency become more widely accepted forms of payment globally, it was important to find a way to provide our guests with the access and convenience of utilizing these currencies when visiting Bobby. We are thrilled to lead the charge within Nashville in accepting cryptocurrency through our partnership with Bit Pay as we continue to seek out opportunities to better serve our guests and the needs of today’s traveler.
The idea of bitcoin being used as a method of payment is nothing new. In fact, it was what the cryptocurrency was initially designed for. The creators of the world’s number one digital currency by market cap had always hoped that bitcoin and its crypto cousins would one day knock fiat currencies and credit card to the side. Sadly, this has been a slow journey.
One of the reasons for this is because many of these assets are vulnerable to price swings. Stores and retailers are immediately turned off by the currencies’ volatility, which has ultimately caused them to jump up and drop sporadically. Many retailers risk losing profit if they choose to say “yes” to crypto payments, and thus the idea of bitcoin being used as a payment method has been slowly realized.
But over the past few months, this goal is edging closer towards reality. Largescale companies like PayPal and Tesla have really paved the way for bitcoin use in the payment arena, and now it looks like many new companies have the confidence they need to follow in these big enterprises’ footsteps.
Many Hotels Are Saying “Yes” to BTC
Another big hotel chain to suddenly accept crypto payments is the Kessler Collection. Chairman and CEO of the company Richard Kessler said in a statement:
This is one of the most innovative concepts in the hospitality industry right now. I believe cryptocurrency is only going to gain acceptance and partnering with Bit Pay allows us to offer more choices in the payment process.
At press time, the Kessler Collection boasts hotels all over the United States.