The concept of ecash was conceived by David Chaum way back in 1983. In 2008, Satoshi Nakamoto, a supposed creator of Bitcoin, took the idea of digital currency a little further by publishing a white paper on the functionality of a Bitcoin blockchain network.
On January 3, 2009, the first Bitcoin block was successfully mined, which paved the way for blockchain technology to thrive and become widely available.
By the year 2017, the cryptocurrency had risen in value to almost $20,000 per Bitcoin.
This sudden rise in value made early investors millionaires overnight and caused a great stir in the industry.
A study conducted in 2019 shows that there are over 150 million Bitcoin user addresses worldwide, and 24 million Bitcoin wallet addresses in the market.
Today, more than 120 companies worldwide accept this virtual currency as a means of payment. Though over 3,000 altcoins exist in the cryptocurrency market today, Bitcoin remains the most used cryptocurrency.
Some Top Companies That Accept Bitcoin
Etsy is an online store that sells unique antiques and handmade items. Vendors in this market are readily accepting this cryptocurrency as a means of payment. Also, payment using other altcoins such as Ethereum is accepted.
CheapAir is a leading American online travel agency based in California. They started accepting cryptocurrency as a means of payment in 2013 and is one of the very first companies that started accepting Bitcoin in the travel industry.
CheapAir has processed over $5 million worth of crypto transactions since 2013 to date. Other altcoins such as Litecoin, Dash, and Ethereum are also accepted as a means of payment for booking both domestic and international flights. The infographic that follows will further introduce you to companies in several industries that accept Bitcoin as a means of payment.