MasterCard To Allow Merchants To Accept Bitcoin
Very bullish news on the adoption front. MasterCard will allow merchants to accept Bitcoin and also to offer Bitcoin rewards.
So, the big question is whether this mechanism will be in real Bitcoins or will it be a promise to pay an equivalent amount of Bitcoins. You know, the way that payments in foreign currency get processed.
From the sounds of their press release, it does sound like payments are made directly to the Bakkt address so yes, it sounds like actual Bitcoins moving.
Of course, the other question is who is actually spending their Bitcoins these days? I for one am just accumulating and not spending because the price just goes up for now as adoption increases.
The news also sent shares of Bakkt, which is a publicly traded company up 234%. Pretty bullish news for the company which lowers the barriers to entry for ordinary people to get into crypto.
You can read more about the news on CNBC: https://www.cnbc.com/2021/10/25/mastercard-says-any-bank-or-merchant-on-its-vast-network-can-soon-offer-crypto-services.html