- 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
VanEck sees Bitcoin reaching $61 trillion market cap, Marathon buys $100 million BTC
Bitcoin declined by 1% on Thursday following asset manager VanEck's forecast that the top digital asset will reach a $61 trillion market capitalization by 2050.
Ethereum Classic price sets for a rally following retest of key support
ETC edges higher by 2.3% and trades around $22.60 at the time of writing on Friday after testing a key support area the day before. On-chain data showing increased account growth suggests a bullish move ahead. Ethereum Classic price faced rejection by the daily resistance level of $25.13 earlier this week.
Celebrity meme coins lose their shine
Celebrity meme coins report by Jupiter Slorg on Thursday shows that these tokens have been in deep waters since early July after experiencing heavy growth in June. In a recent analysis, Jupiter Slorg revealed that celebrity meme coins are down by an average of 94% from their all-time highs.
Ripple gains 5%, Mark Cuban says Kamala Harris’ nomination could affect SEC lawsuit
Ripple (XRP) made a comeback above key psychological resistance early on Wednesday. Crypto traders are optimistic after the Ethereum Exchange Traded Fund (ETF) launch. Entrepreneur and investor Mark Cuban recently shared his comments on how Kamala Harris’ nomination to the Presidential elections could influence crypto regulation.
Bitcoin: Will BTC manage to recover from recent market turmoil?
Bitcoin recovers to $67,000 on Friday after finding support around $63,500 a day before. Still, BTC losses over 1.50% on the week as Mt. Gox persists in transferring Bitcoin to exchanges.