Why Bitcoin Hasn’t Gained Traction as a Form of Payment
The cost of using the digital currency, and its volatility, make day-to-day transactions impractical
Over the past three months, the daily average fee for using bitcoin has varied between $2.18 and $17.20. REUTERS
Want to buy your next car with bitcoin? What about your next cup of coffee?
Elon Musk, a longtime advocate for bitcoin, will soon give Tesla Inc.’s customers the chance to buy the company’s electric vehicles using the digital currency.
The news — along with Tesla’s move to acquire $1.5 billion of the cryptocurrency for its corporate treasury — sent the price of bitcoin up 25% from Sunday to a new intraday record of $48,226 on Tuesday.
For bitcoin bulls, the announcement was the latest…
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