Acceptance of Bitcoin (BTC) Across the Globe Surges by Over 700 Percent Since 2013

The number of places all over the world accepting Bitcoin (BTC) is up by over 700 percent since 2013. This was revealed by CoinMap – a digital currency acceptance monitoring resource. Places with the most significant increase in businesses and firms offerings to exchange their services and products for the world’s largest digital currency are those that were already showing stronger hints of the usage of Bitcoin (BTC) over the past five years.

The northern part of South America, Colombia, Ecuador, and Venezuela are perhaps the most notable part of the world seeing a significant increase in businesses and firms accepting Bitcoin (BTC). These parts of the world are leading in this regard.

Bitcoin (BTC) Global Acceptance Is Spreading Really Fast

The Chief Executive Officer of CoinShares, a digital asset management firm, talked that the massive increase in the number of places accepting Bitcoin (BTC) as a means of payment yesterday via a tweet. In his tweet, the CEO – Ryan Radloff – used data provided by CoinMap to point out the increasing number of places accepting Bitcoin (BTC) over the past five years, from the 31st of December 2013 to the 31st of December 2018.

The data highlighted the total of BTC-friendly businesses and firms across the globe in 2013 versus the number at the end of last year. The number at the close of 2013 is 1,789 and the number at the close of 2018 is 14,113.

Nevertheless, since then over 200 additional places have started accepting the digital currency, resulting in a total percentage increase to an impressive 702.35 percent. The places showing hottest on the map of acceptance are those that embraced the digital currency at the end of 2013. Those areas include much of the UK, Central Europe, South Korea, the United States, Taiwan, and Japan.

Bitcoin (BTC) Price Today – BTC / USD

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Interestingly, according to the map, South America was marked as being largely not accepting of BTC in 2013. Nevertheless, after a period of five years, the entire story has changed. Almost the whole north of America is colored red on the heat-map – signaling some of the highest levels of BTC acceptance in the world.

Initially, there were small hubs of BTC usage that were basically centered around the capital cities of Chile, Brazil, and America. At the moment, the likes of Venezuela, Ecuador, and Colombia are mainly showing strong BTC acceptance amongst local merchants.

There are still a lot of places in the world where digital currencies seem to have not reached yet. Such places include the Middle East, Much Africa, and a lot of areas in China. These areas are showing very little hot spots on the map. This presents a very big opportunity for entrepreneurs in these areas.

Bitcoin Adoption and Bitcoin Acceptance Are Not the Same Thing

Such a significant increase in the number of places accepting Bitcoin (BTC) is definitely encouraging for those with a vested interest in the adoption of the digital currency. Nevertheless, you should not get over joyous by the figures shown above. The reason is that they give no actual indication as the real usage of the digital currency. Just the number of Bitcoin (BTC) transactions each of the firms shown across the globe by CoinMap have accepted in total remains a mystery.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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