- 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.
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
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin rises 4% amid long liquidations, and short-term holders realized share
Bitcoin climbed above $63,000 on Friday after Mt Gox pushed its repayment plans to 2025, easing tension among investors. Meanwhile, CryptoQuant data reveals that Bitcoin long liquidations hit $290 million on Thursday, the highest level since 2022.
Arbitrum, EigenLayer, Axie Infinity lead over $214 million worth of token unlocks this week
Token Unlocks data on Friday indicates that the crypto market is poised for another round of supply hikes this week, with EigenLayer, Arbitrum, Axie Infinity and Starknet set to release a combined $214 million worth of their tokens into circulation.
XRP holds steady above $0.53 as Ripple confirms cross-appeal, Bitnomial sues SEC
Ripple holds steady above key support at $0.5300. The altcoin gains as the payment remittance firm confirms the filing of a cross-appeal in the Ripple lawsuit with the Securities & Exchange Commission. Ripple is gearing up to introduce new features for its custody solutions for institutional investors.
Ethereum Price Forecast: ETH reclaims $2,395 support but risks inflationary pressure with Unichain's launch
Ethereum (ETH) reclaimed the $2,395 support level on Friday and is attempting a move toward the $2,490 resistance. The top altcoin could face inflationary pressure in the coming months when Uniswap's Unichain goes live due to the decentralized finance protocol's large contribution to Ethereum revenue and daily burnt ETH.
Bitcoin Weekly Forecast: Will BTC decline further?
Bitcoin’s (BTC) price fell over 6% at some point this week until Thursday, extending losses for a second consecutive week, as it faced rejection from a key resistance barrier.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.