Many companies are considering adding BTC as a payment method; how will that shape its future?

Bitcoin BTC/USD is the largest token in terms of market capitalization. However, the same can be said about its volatility, as it has seen huge spikes and dips in value as of recently.

However, as more and more companies are aiming to adopt cryptocurrency as a payment option or simply as an offering throughout their services, it has potential for growth. 

eBay exploring support of cryptocurrency for payments and State Street to offer custodial services for Bitcoin

On March 1, 2022, we covered how Coinbase will not freeze Russian accounts, despite Ukraine’s request.

eBay’s CEO, Jamie Iannone, stated that eBay aims to be a marketplace for Gen-Z and millennials. 

While nothing has been confirmed yet by eBay directly, Jamie Iannone stated that an announcement relating to their cryptocurrency support could potentially be made on March 10, a day dedicated to eBay investors.

This leads to the conclusion that the American eCommerce giant, eBay, is looking into the possibility of adding cryptocurrencies as a possible payment method on the platform.

Additionally, State Street, which is the largest asset custodian in the world, has plans to launch a custodial service for Bitcoin as well as other digital assets. The VP and head of State Street digital say that the market will “take comfort” from the largest custodian in the world offering digital custody of assets.

Should you buy Bitcoin (BTC)?

On March 1, 2022, Bitcoin (BTC) had a value of $43,154.22.

In order for us to get a better perspective as to what kind of value point this is for the BTC cryptocurrency token, we will be going over it’s all-time high value, alongside the performance it showcased throughout the previous month.

The all-time high value of Bitcoin (BTC) was on November 10, 2021, when the token reached a value of $69,044.77.

When we go over the performance of the token throughout the previous month, Bitcoin (BTC) had its highest point of value on February 10 at $45,387.26.

Its lowest point of value, however, was on February 24, when it decreased to $34,750.15. This indicates that the token saw a decrease in value of $10,637.11 or by 23%.

However, from February 24 to March 1, the token increased in value by $8,404.07 or by 24%.

With this in mind, Bitcoin (BTC) can reach a value of $45,000 by the end of March 2022.