If you want insight into how the cryptocurrency business as a whole is doing these days, look at how people are using it.
“The more places that you can spend crypto, the more reasons people have to spend crypto,” BitPay CEO Stephen Pair told PYMNTS’ Karen Webster recently. “And we’re seeing a huge amount of interest among merchants. What’s going on now is merchants are going to their existing payment processors and asking them to support crypto.”
And those merchants are asking that because their customers are asking for it. One quarter of consumers prefer to shop with merchants that accept cryptocurrency, according to PYMNTS’ U.S. Crypto Consumer study, released in April. Look at consumers earning more than $100,000, and that jumps to 29%.