Bitcoin mass adoption: Spain's largest telecom company accepts BTC and crypto

Telefónica, the largest telecom company in Spain, now accepts Bitcoin and crypto for technology products.
Bitcoin adoption has picked up pace, a bank in Kazakhstan bought BTC.
Analysts identify signs of potential upswing in Bitcoin price.

Ekta Mourya FXStreet

Bitcoin adoption has picked up pace in Spain as the largest telecom company Telefónica accepts BTC and crypto. Analysts have predicted a spike in Bitcoin price with rising adoption and acceptance worldwide.

Also read: Shiba Inu price: Shiba Eternity download day the biggest bullish catalyst in SHIB history?

Telefónica accepts Bitcoin and crypto payments

Spain's largest telecom company Telefónica has announced the acceptance of Bitcoin and cryptocurrencies as payment.

Telefónica activated purchases with crypto on Tu.com after adding a payment feature provided by Spain’s largest crypto exchange, Bit2Me. The telecom company has also invested in Bit2Me with further details expected to be released soon.

Telefónica has previously ventured into crypto through the metaverse and collaborated with Qualcomm to explore a joint commercial metaverse opportunity. The collaboration will power the launch of XR augmented reality metaverse products and services. The official release reads:

This agreement opens the opportunity to deliver new experiences to customers merging the digital and analogue worlds, re-imagining commerce, entertainment, and communication in the Metaverse.

The Spanish telecom giant developed a solution for companies to issue NFTs easily through its partnership with Ethereum scaling solution Polygon.

Fashion giant Gucci announced that it will start accepting cryptocurrencies like Shiba Inu, Dogecoin, Bitcoin and Ethereum in select stores. Alongside fashion giants, restaurants such as Chipotle have embraced crypto payments highlighting Bitcoin's growing adoption.

Bitcoin price shows signs of an upswing

Glenn Williams, a crypto analyst evaluated the Bitcoin price trend and noted that BTC could witness a potential upswing.

Bitcoin price chart is showing early signs of an uptrend. Recent trading data revealed that Bitcoin registered a series of “higher lows,” laying the groundwork for the largest cryptocurrency by market capitalization to begin rising again.

This implies more buyers are willing to acquire Bitcoin at progressively higher prices. On September 21, Bitcoin made progressively higher highs within nine days. Analysts believe Bitcoin price has a potential to climb higher and rally 27%.

BTC-USD price chart

Author

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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