Elon Musk ushered the wave of institutional adoption of bitcoin in early 2021. Famous companies accepting bitcoin since 2014 contributed massively to the institutional adoption of bitcoin. Undeniably, Elon Musk’s addition of bitcoin in Tesla motors added a lot to the credibility and utility of bitcoin as a monetary system. Still, companies like Microsoft and PayPal were already using it. Also, we need to know the top 5 bitcoin IRA companies as everyone needs to think about the future.
Microsoft launched bitcoin as a payment method in 2014, and since then, it has been expanded to the majority of its products (no doubt due to the revenue that bitcoin mining brought). Microsoft accepts payments through bitcoin, but they are only accepted through a partnership with Bitpay. Another example is PayPal which started using bitcoin in 2014 as well.
Paypal and Microsoft were not the only ones using bitcoin in 2014; they also helped some other noteworthy companies use it for payments. These companies include Xapo, Expedia, Amazon, and Overstock. First, let’s look at the top five companies using bitcoin for payments.
1. Overstock
Overstock was one of the first companies that started using bitcoin in 2014. Since then, they have become some of the most popular bitcoin retailers among consumers because of their diverse and appealing items.
The company uses Bitpay as a payment processor, an American company founded in 2011. To show their support for bitcoin, Overstock partnered with Coinbase to accept payments in bitcoin as well as other altcoins like litecoin and dogecoin.
Overstock is also the owner of a large wealth management firm called “crypto.com”. It has been developing new technology and a private digital currency called ‘primecoin’ that an individual could use for real-world payments. In addition to accepting bitcoin for purchase on their leading site, Overstock market also offers an exciting variety of art, clothing, and jewelry.
2. Microsoft
The biggest company in the world, Microsoft, accepted bitcoins early on which has made it a global leader in bitcoins adoption and continues to be so today due to its partnerships with Bitpay and Coinbase.
In 2017, Microsoft officially decided to take bitcoin payments as an official payment method, and today it is used by more than half of their products in the company. Microsoft also has its virtual currency called “Microsoft points”.
Microsoft has partnered with many bitcoin ATMs in many countries, including Canada and the U.S. Its partnership with Bitpay has allowed it to accept bitcoin payments from over a hundred countries around the world. One of their latest partnership is with the London Block Exchange, in which Microsoft will test its version of a digital wallet using blockchain technology.
3. Expedia
This company was founded in 1995 as an online travel booking service, but it wasn’t until 2014 that it started accepting bitcoin payments. As a result, it is now one of the biggest competitors to Priceline Group, a giant online travel portal with around 100 million users of its services.
Since 2014, Expedia has accepted bitcoin as a payment method for flights and hotels, but unfortunately, the Bitcoin amount is usually minimal for such a big company. It may be a result of high transaction fees resulting from the relatively small volume or the lack thereof of hotel properties in some areas that accept bitcoins as payment.
4. PayPal
PayPal is an American company that was founded in 1998. It is a global payment processor and online money transfer service provider. It is one of the most popular and trusted online payment systems that have helped consumers to send and receive money quickly, but it wasn’t until 2014 that they started to accept bitcoin payments through their partnership with Bitpay.
Today, they are accepted by more than 100 million retailers in 24 countries, allowing customers to pay in bitcoin at the checkout line of their favorite shops. If anyone wants to use PayPal’s services, they must have a verified account and then add the funds to their PayPal balance.
5. Starbucks
Starbucks is one of the biggest coffee shop chains in the world. It’s tough to imagine a day without this well-known coffee shop. According to reports, it has more than 240,000 employees working for them from 75 different countries.
It is currently ranked as the 29th largest company in the world and is worth over $82 billion. Their services include selling coffee, tea, and many snacks. Their products are sold in over 28,000 locations worldwide. You can make your order online through their website or mobile app and then use Bitcoin at any participating location of Starbucks to pay for your items, which will be delivered right to your doorstep.
