Apple Joins the Bitcoin Game following BitPay Integration
For Bitcoin and crypto, it's a deluge of bullish news. Joining the fray is Apple. Following the integration of BitPay, the mobile phone manufacturer now facilitates BTC payment via Apple Pay. On Friday, the Atlanta-based BitPay said its prepaid Mastercard would begin supporting Apple Pay. This is another step in the right direction and a massive development—even endorsement of Bitcoin as a medium of exchange just like money. Going forward, through Apple Pay, BitPay cardholders can begin making secure purchases in stores, applications, and online. The same is also possible for virtual cardholders who can add them to Apple Wallet via Apple Pay and enjoy similar services.
Beyond being a store of value (SoV), Bitcoin is a medium of exchange (MoE). It means coin holders—who hardly spend their stash, can pay for goods and services online using BTC. There is a volatility problem, but users are brushing it off. After all, it has tapered over the years. Following Apple Pay support, there is more avenue for coin holders to spend their coins securely. It further helps in the marketing efforts of the world's most valuable currency that serves as an SoV and an MoE. Presently, Binance Pay and PayPal offer the same services. In Apple Pay's case, BitPay will convert the BTC to USD on behalf of merchants.
Impact on the BTC Price:
Bullish. The more merchants accept the coin, the more BTC finds exposure. Users of Apple products are the first on the list. However, Google and Google device owners will soon find a means of using their BTC to purchase goods and services online, conveniently and securely.
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