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More companies adopting cryptocurrency

MIAMI (CBSMiami) – More companies adopting cryptocurrency. Cryptocurrency has been significant with digital currency investors.

Crypto adoption is increasing every day. It has yet to break through with consumers as a convenient way to buy and sell goods. It may be transforming, as more firms are now embracing Bitcoin (BTC).

When baseball recently welcomed back spectators, it marked the start of something new at the home of California’s Oakland A’s. Fans watched from a season suite paid for with Bitcoin. This was the first time that fans used cryptocurrency to buy MLB tickets.

Oakland A’s President Dave Kaval stated that,

“We thought, starting with the suite sale, which is typically about $65,000 for a year and bitcoin was approaching 60,000. We said it’s a perfect time to demo this and to see if it has any traction.”

Kaval stated that given where the team is located; it makes sense that they are the first professional baseball team to be trying this out.

“Our fans are all over the Bay Area in Silicon Valley. I think there’s an opportunity down the line, where even sponsors could theoretically pay with Bitcoin and, and we can use other aspects of cryptocurrency in our business.”

Other businesses are also embracing the change.

More companies adopting cryptocurrency

Elon Musk recently announced people could use Bitcoin to drive away with a Tesla. In Nashville, TN, the Bobby Hotel stated it now accepts cryptocurrency for weddings.

Recently, the Venmo payment app is also now letting customers buy and sell cryptocurrency.

San Francisco doctor Paul Abramson started accepting Bitcoin nine years ago, but he mentioned it has not been easy.

He stated that,

“It’s kind of hard for us right now to convert it into dollars in an efficient way. The tax consequences are a little less clear these days. So we’re trying to really just sort of limit our exposure to bitcoin transactions right now.”

Cryptocurrency’s wild swings in value are keeping many people from jumping on the bandwagon. It is not clear if the use of digital money will ever become as widespread as dollars and cents.

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