Over 100,000 Merchants Accept Bitcoin

On April 2, 2015, BitPay, a leading global bitcoin payment processor, reported a significant milestone in the adoption of Bitcoin as a payment method: the number of merchants accepting Bitcoin worldwide had reached 100,000. This announcement was a testament to the growing acceptance of Bitcoin in the global marketplace.
 

BitPay’s report highlighted several key insights:
 

• 60% of these merchants were using BitPay’s services to process their Bitcoin payments.

• The second quarter of 2015 saw a record number of transactions in the European region, with an all-time high of 102,221 transactions per quarter.

• The report also noted substantial growth in Latin America, where transaction volumes nearly doubled, reflecting a 120% increase.

The surge in merchant adoption was driven by various factors, including the need for a borderless and efficient payment method that could cater to an international customer base. Bitcoin provided a solution to this need, especially in regions where access to traditional banking services was limited or where local currencies were subject to high inflation rates.
 

The industries leading the charge in Bitcoin acceptance included IT services, gift cards, financial services, and marketplaces. The widespread adoption of Bitcoin by merchants indicated a shift in the perception of cryptocurrency from a speculative investment to a viable and practical payment option.