• 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

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.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Chiliz price dangles above abyss, ready to plunge below $0.14

Chiliz price dangles above abyss, ready to plunge below $0.14

Chiliz (CHZ) price could not catch a break over the weekend as social unrest flared up in China, battering trader sentiment on Monday morning in the ASIA PAC session.

More Chiliz News

Ethereum price dips as China triggers risk-off wave

Ethereum price dips as China triggers risk-off wave

Ethereum (ETH) price saw a lackluster weekend regarding its price action and performance. On Saturday, some hopes were there that the pivotal level at $1,243 could get a test, but bulls never made it up that far. 

More Ethereum News

Bitcoin price tanks as Covid protests erupt in China, pushing investors into risk-off mode

Bitcoin price tanks as Covid protests erupt in China, pushing investors into risk-off mode

Bitcoin price saw a sudden sell-off on November 28 after a consolidative weekend. This bearish outlook comes as major protests erupt in China due to Covid restrictions.

More Bitcoin News

Binance Coin Price Prediction: Two things need to happen for BNB to hit $450

Binance Coin Price Prediction: Two things need to happen for BNB to hit $450

Binance Coin price could be running out of gas to continue its massive rally. While the last five days have been exciting for holders, the following days will need to be closely monitored.

More Binance Coin News

Bitcoin: Assessing chances of one last bear market rally for 2022

Bitcoin: Assessing chances of one last bear market rally for 2022

BTC is in a good place to trigger another bear market rally from a high-time frame perspective. This development, combined with the optimistic outlook seen in on-chain metrics, further strengthens the possibility of a happy ending to 2022.

Read full analysis

BTC

ETH

XRP