In-person businesses accepting bitcoin nearly tripled in 2023

In-person businesses accepting cryptocurrency soared by almost three times in 2023, showing a strong trend towards bitcoin adoption. BTC Map’s crowdsourced data revealed that over 6,300 vendors worldwide had started accepting bitcoin, compared to just 2,200 at the end of 2022. While there may be vendors not accounted for in the data, the increase suggests a growing acceptance of bitcoin despite its volatile price swings throughout the year. However, using bitcoin to pay for physical goods carries its risks, as the value of bitcoin can fluctuate dramatically. For instance, a $20 pizza purchased with bitcoin at the start of 2023 would be worth over $50. Interestingly, bitcoin vendors are predominantly found in Europe, the United States, and Latin America, while East Asia, particularly China, lags behind due to the cryptocurrency ban in the country.