The New American – by Bob Adelmann
When Jeff Klee was asked by a client if his travel agency,CheapAir.com, would accept Bitcoins, he admitted he didn’t even know what they were. He didn’t know that thousands of merchants were already accepting them in payment for services and products, such as WordPress, OKCupid, and even Richard Branson’s Virgin Galactic on which Klee no doubt had already booked some of his clients.
Once he learned what they were, and found a digital “wallet” — Coinbase — to help him manage the transactions, he saw the marketing advantage: “We expect people to come to us especially because they can use Bitcoin.” Klee isn’t taking much of a risk as more than 14,000 merchants already use Coinbase, which has opened up nearly half a million Bitcoin wallets for its customers. Said Klee: “If you have a lot of people accepting it, it becomes a useful and legitimate form of payment.” Continue reading “The Bitcoin Continues to Gain Credibility From Merchants and the Fed”