Apple device owners will now be able to use Bitcoin and other cryptocurrencies to purchase goods and services, thanks to a new agreement by the company with blockchain payments company BitPay. The payment service Apple Pay will thus support BitPay debit cards , which convert cryptocurrency holdings into local traditional currencies (such as USD, GBP, AUD) when a payment is made.
According to a BitPay blog post, customers They will be able to make online purchases in the app, without contact, using Bitcoin, through smartphones, tablets, computers and Apple smart watches. The BitPay debit card also allows you to make payments using a variety of altcoins (alternative cryptocurrencies), such as Bitcoin Cash (BCH) and Ether (ETH), as well as USD Coin (USDC), Pax Standard (PAX) and Binance USD (BUSD) stable
According to BitPay, this innovation is also expected to reach Android users by the end of the quarter, through updates to the Samsung Pay and Google Pay services. This comes in the context of a booming Bitcoin value growth. One of the big criticisms of this cryptocurrency is that people have little opportunity to spend their cryptocurrencies, since only a minority of providers support this type of transaction.
Apple is not the only one that will bring cryptocurrency payments to the masses. In October, payment giant PayPal also unveiled a new digital wallet that allows account holders to buy, sell, and transact using a variety of cryptocurrencies
Bitcoin's records keep happening. Today, the most traded cryptocurrency returned to an all-time high to break the $ 50,000 barrier for the first time . The token rose as much as 4% on the day to hit $ 50,335 in early trading on Tuesday, which coincides with Asian market time, according to a series from Bloomberg . The price of Bitcoin has quintupled in the last year.
The rise of the cryptocurrency has been driven by the growing adoption of the same by companies, especially by the disclosure of Tesla this month of a purchase of $ 1.5 billion . However, the debate regarding the intrinsic value of the asset and the possibility that the records are the moment before the burst of a bubble does not stop.
A series of recent announcements indicates that Bitcoin is gaining more attention not from fringe players but from long-established firms in the market, after the purchase of Tesla catapulted cryptocurrencies to the agenda of corporate treasurers around the world. .
In order to understand what Bitcoin is , it is possible to understand it as the new gold. Institutional support for cryptocurrency happens all the time (PayPal, Mastercard, Tesla) and there are other examples that demonstrate the paradigm shift. The Central Bank of Kenya announced days ago that it will use Bitcoin as a store of value.
And this decision stands in stark contrast to the recent determination by the Central Bank of Nigeria to impose a banking ban on crypto traders and exchanges in the country. The Kenyan central bank's decision also came on the day that the United States Secretary of the Treasury had claimed that Bitcoin would never reach central banks.
The growth of Bitcoin has also helped other cryptocurrencies such as Ether , the currency of the Ethereum network. Ether's price rose about 2.3% to $ 1,801 on Tuesday morning, after hitting an all-time high above $ 1,870 over the weekend.