Whole Foods and Starbucks Begin Accepting Bitcoin

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Cryptocurrency has become a widely accepted form of currency in the modern world. Bitcoin in particular has seen itself rise to the top of the list for the most commonly used cryptocurrency. In 2016, Bitcoin saw its value rise to just shy of $20,000. Since then, the price has been plummeting, and now sits at nearly 4 times less than its peak value. Despite this, many big retailers has begun to open their minds to the prospect of accepting Bitcoin in their stores, the most recent of which being Whole Foods and Starbucks. But what does this recent switch in attitude towards Bitcoin mean for the market?

In the past Bitcoin and other cryptocurrencies were only accepted by niche online retailers. These retailers were usually technology based and didn’t touch a wide range of consumers. Recently, that trend has been shifting. With the new introduction of cryptocurrencies into mainstream markets, Bitcoin has seen its price shoot up around 60%. This kind of increase hasn’t been seen since Bitcoin’s first big surge in 2016, along with prices this high, which haven’t been seen since the midst of Bitcoin’s massive decline in price last year.

What this could ultimately mean for Bitcoin is a comfortable and solidified spot in normal markets, as well as a stable price. True anonymous markets could become a reality and could mark a new beginning for cryptocurrencies.

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