July 6, 2022
  • July 6, 2022

More companies are embracing cryptocurrency – CBS Miami

By on April 27, 2021 0

MIAMI (CBSMiami) – Cryptocurrency has been important with investors trading digital currency, but it has yet to break through with consumers as a traditional way to buy and sell goods. That may change, as more companies now embrace Bitcoin.

When baseball recently welcomed spectators back, it marked the start of something new for the Oakland A’s in California. Fans watched from a paid season sequel with Bitcoin. It was the first time that cryptocurrency was used to purchase a Major League Baseball ticket.

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“We thought, starting with the suite sale, which is usually around $ 65,000 for a year and bitcoin is approaching 60,000 – we said now is a great time to demonstrate that and to see if that had any interest, ”said Oakland President A. Dave Kaval.

Given the location of the team, Kaval said, it makes sense that they would be the first professional baseball team to try this.

“Our fans are all over the Bay Area of ​​Silicon Valley. I think there is 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.

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Other companies are embracing the change as well. Elon Musk recently announced that people can use Bitcoin to go with a Tesla, and in Nashville, TN, the Bobby Hotel said it now accepts cryptocurrency for weddings.

Recently, the Venmo payment app also allows customers to buy and sell cryptocurrency.

San Francisco doctor Paul Abramson started accepting Bitcoin nine years ago, but said it hasn’t been easy.

“It’s a little hard for us right now to convert it to dollars in an efficient way,” he said, “and the tax implications are a little less clear these days, so we’re trying to limit somehow our exposure to bitcoin transactions right now. “

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The wild swings in the value of cryptocurrency keep many people from jumping on the bandwagon, so it is not clear whether the use of digital currency will ever become as widespread as dollars and cents.