Bitcoin Nearing $8000 Citing Mass Bitcoin Adoption By US Largest Telecom Giant

Published May 24, 2019 | Updated May 24, 2019

Bitcoin Nearing $8000 Citing Mass Bitcoin Adoption By US Largest Telecom Giant

Bitcoin Nearing $8000 Citing Mass Bitcoin Adoption By US Largest Telecom Giant

The largest cryptocurrency, Bitcoin is very close to reaching $8000 on early Friday, May 24, 2019. Alongside bitcoin, other altcoins as well performing with a green momentum. However, this comes after the announcement of mass bitcoin adoption by US Telecoms Carrier, AT&T which created a huge buzz on the market on May 22, 2019.

AT&T Bill With Bitcoin (BTC)

On Thursday, May 22, a US largest Telecoms giant AT&T announced its bullishness towards cryptocurrency. It says that the firm will soon be accepting cryptocurrency, specifically Bitcoin for online bill payments. To process the new payment on its website and mobile app, AT&T is partnering with BitPay, a bitcoin payment service provider.

Image Source – Twitter

However, once you wish to proceed crypto payment at AT&T, you can visit its official website or MyAT&T mobile app. A new bitcoin payment option can be seen to cover the bill with crypto than just traditional fiats.

This is the first of its kind in the telecom sector that a US’s largest wireless carries integrating cryptocurrency payment method. In a press release published on Thursday, Kevin McDorman, vice president, AT&T communications finance business operations, said;

“We’re always looking for ways to improve and expand our services. We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.”

Bitcoin Closer to $8000

As soon as this news flourished on the web on May 22, the price of Bitcoin and other altcoins began showing the budding figures. At the moment, Bitcoin is valued at $7883.61 against the US dollar with a price gain of 2.83 percent over the past 24 hours. Moreover, the market cap of bitcoin is also very close to $140 billion, is currently ranked highest with $139,686,649,427 average trading volume.

Image Source – Coinmarketcap

Also read – Bitcoin [BTC] Going Above $7,950 will Start Another Breakout – Analyst

Besides Bitcoin, altcoins including Ethereum (ETH), XRP, Bitcoin Cash (BCH), EOS, Litecoin (LTC), Binance Coin (BNB), Tether (USDT), Stellar (XLM), Cardano (ADA) and many other reflecting the similar sentiment.

Image Source – Coinmarketcap

By announcing crypto adoption, AT&T joins a handful of other leading companies that are ruling the emerging crypto payments including Whole Foods, Starbucks and others. Nevertheless, many famous companies earlier announced to accept crypto first and later closed their crypto payment door – few such giants are Expedia, Rakuten and more.

Image source – Fortune

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]
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