EBAY 'SERIOUSLY CONSIDERING' accepting BITCOIN as PAYMENT METHOD

The senior vice president of eBay Americas has said that the organisation is ‘seriously considering’ accepting bitcoin as a payment method.

Speaking to Yahoo! Finance, Scott Cutler, said that while the company is considering it, they are ‘not quite there yet.’ However, the consideration comes at a time when bitcoin’s price has been soaring to record highs as more and more investors turn to it as an investment asset. Subsequently, more companies are starting to consider the possibilities of the digital currency as a viable payment option.

Yet, despite the fact that bitcoin is experiencing a record rise in value, with an influx of new investors, the number of people accepting it as a form of payment remains low. According to Yahoo! Finance, though, Overstock.com, has seen a 250% rise in the last six months as interest for the cryptocurrency continues. In 2014, Overstock.com became the first major retailer to accept bitcoin as a form of payment for purchases.

This is an example of where the digital currency is being employed for everyday purchases. Nevertheless, it signals the potential that the cryptocurrency holds and where it is heading in the future. With the launch of the first bitcoin futures already underway – fellow Chicago-based exchange CME Group is to follow on Monday – it’s projected that this will help to push the cryptocurrency further into the mainstream.

With eBay keen to improve the services it offers to its customers to that of Amazon, it may be that the online marketplace may soon be accepting bitcoin as a form of payment to boost its competitiveness and this would provide a huge boost to the bitcoin platform.

Source: https://coinjournal.net/senior-vice-president-ebay-seriously-considering-accepting-bitcoin/