Bitcoin's Resilience! The Savy Crypto-Currency is Being Further Accepted by American Businesses; Inevitably, the Currency Will Rise Over $1,000 Again
The list of US businesses now accepting Bitcoin for payment is growing! After the regulatory crack down in China, the digital currency fell almost 50%. It is beginning to make somewhat of a comeback, thanks to US business support.
Zynga is a San Francisco based social game maker. They announced on Reddit that they would be accepting Bitcoin as a form of in-game payment. Zynga makes seven games, including Farmville 2 & Castleville.
"Zynga is always working to improve our customer experience by incorporating player feedback into our games," The Reddit post stated.
Furthermore,
"We look forward to hearing from our players about the Bitcoin test so we can continue in our efforts to provide the best possible gaming experience."
Following the Zynga news, Bitcoin began to climb. By the morning of Monday, January 6th 2014, the currency had topped $1,000. Later that day, it began to fall again.
December 4, 2013 Bitcoin hit a record high of $1,238. But after China announced its regulatory crackdown on Bitcoin, the currency fell by about half.
Who's using Bitcoin?
US businesses are beginning to see the value in getting in on Bitcoin. There are also studies on the key consumer base of Bitcoin. It's proving to be a very attractive market.
The profile: Male, 25-40 years old, with an above average income, probably residing on the East or West Coast. Quantcast got similar results.
What are they buying?
Zynga, Overstock.com (later this year), OK Cupid, Wordpress, and Reddit
A New York City based real estate firm, CORE, is offering their clients the option to pay off broker fees in Bitcoin.
Lots of electronics, and gift cards like, Best Buy and Amazon.
San Francisco based Peddles Gift Cards (over 200 vendors).
Time after time Bitcoin has shown her resilience. I expect the appeal and base of Bitcoin to continue to grow. Bitcoin will rise again.
Zynga: https://www.zynga.com/
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