Cryptocurrency adoption has always been an interesting topic of discussion. After the industry suffered from a bearish year in 2018, many were concerned that sluggish crypto prices would take a toll on the long-term rate of adoption. It looks like the numbers are high and still growing for the Bitcoin Cash community.
According to a recent Reddit thread on the Bitcoin forum, there are currently 945 online merchants listed on accept bitcoin Cash, 670 Brick-and-mortar merchants on Marco Coino, and 939 merchants of all types listed on Green Pages that accept the token. These numbers and the steady increase in merchant adoption is fantastic news for the cryptocurrency industry and community. CCN pointed out that most of these merchants that do accept Bitcoin Cash are small, independent outlets. However, there are large payment platforms like CoPay, BitPay, and Payeer that do accept Bitcoin Cash, and act as a bridge for companies keen to adopt this new method of payment.
Today Bitcoin Cash has a market cap of around $2.8 Billion. If you divide this amount by the amount of companies accepting bitcoin cash, the value is worth a little over $3million per company adoption. If Bitcoin Cash is a good solution for businesses to accept payment, it will be interesting to see the relationship between these two factors.
What are your thoughts on this situation guys?
Do you think as more companies start accepting bitcoin cash, the market capitalization will increase?
Also, do you think cryptocurrencies will be a standard form of payment in 3-5 years time?
Let us know in the comments below.
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