The number of merchants accepting Bitcoin is growing worldwide, but there’s a caveat. The majority of the Bitcoin users don’t want to spend the digital gold, at least not yet.
15K Merchants Accepting BTC worldwide
At 14,518 as of April 2019, the number of merchants accepting BTC payments is on the rise, with a large concentration in Europe and the U.S. Bitcoin ATMs doubled in 2018 as well to well over 4,000. These have to be good indicators for mass adoption.
Although, as it stands right now, there are few people who are interested in buying bitcoins with a 8 percent markup at a Bitcoin ATM, only to then spend it on a sandwich.
While the above heatmap is, at first glance, encouraging, just because merchants accept Bitcoin doesn’t mean people want to pay with it.
While Bitcoin has found a very strong use case in countries with hyperinflation like Venezuela, HODLers in the West appear to be strictly using it for speculating and as a store of value.
OK, so they may buy into the novelty of the ‘Bitcoin City’, but the…