Looking to use your bitcoin for real-world purchases? Fortunately, the adoption of bitcoin as a payment method is growing, with over 6,300 vendors reported to have accepted bitcoin in the past year, according to BTC Map’s data. This number has nearly tripled from the 2,200 vendors reported at the end of 2022, indicating a rising trend in bitcoin adoption.
However, it’s important to consider the potential volatility of bitcoin when using it to pay for physical goods. The value of bitcoin used for a purchase can fluctuate significantly, as evidenced by the infamous case of two large pizzas purchased for 10,000 bitcoin, now worth $44 million at today’s prices.
Bitcoin vendors are spread across the globe, with strong concentrations in Europe, the United States, and Latin America. Interestingly, the East Asian market, particularly China, has been slower to adopt bitcoin due to the cryptocurrency ban in the country, despite its large population.
As the cryptocurrency industry continues to evolve, it’s crucial for users to stay informed about the changing landscape of bitcoin adoption and usage in real-world transactions.
