The skyrocketing adoption of cryptocurrencies has stirred the traditional finance market, and over the past few years, traditional businesses have continued to explore and adopt the payment in crypto and, especially in Bitcoin.
According to a LinkedIn video posted by Rahim Taghizadegan, SPAR store ZUG in Switzerland is actively engaged in enabling its customers to make payments in cryptocurrencies, and especially in Bitcoin.
SPAR is an international grocery retailer that has its presence in 48 nations globally, with 13,900 stores. With the news of testing cryptocurrencies as payment, SPAR has gained huge appreciation from the digital asset moguls and others.
People aware of the fact say that SPAR is accepting payment Bitcoin Lightning Network, the move indicates growing interest of users, investors, and others in cryptocurrencies.
The ongoing trial phase of payment acceptance in crypto will be monitored closely in order to assess the feasibility and customer demands for digital assets.
Are traditional retailers shifting towards payment in crypto?
Over the years, dozens of institutions, companies, and firms have continued to cautiously explore the use of cryptocurrencies, yet in the wider market, there is still a fear about crypto, and there are still some companies that do not favour the acceptance of payment in crypto.
Some particular industries, such as fashion, clothing, and automobiles, have remained at the top in terms of accepting payments in cryptocurrencies. Companies like Tesla, Overstock, Newegg, Shopify, Dell, Namecheap, and ExpressVPN.
On the other hand, Microsoft, which did not support any digital money, also accepted payments in Bitcoin, Bitcoin Cash, Ethereum, and USDT. Home Depot, Whole Foods, Rakuten, Starbucks, Burger King, Pizza Hut, KFC Canada, Subway, Expedia, and CheapAir, among many others.
As per the report published in 2024 notes that 72M Americans own crypto, but payment usage lags behind credit cards, which dominate with over 70% of transactions.
A similar survey by Deloitte in 2022 claimed 75% of U.S. retailers planned to accept crypto within two years, but there’s little evidence this has materialized broadly by 2025.
Bitcoin price updates
As of writing, Bitcoin was exchanging hands at $84,487 with a weekly addition of 2.60%, yet its prices are down by 18.77% in a quarter and have lost more than 9% of their prices since the beginning of this year.
At the same time, the market capitalization of BTC was below $2 trillion at $1.67 trillion, it is currently dominating 63%, which is up by 2.28%. In the past 30 days, the highest trading price of Bitcoin was $88,758, and its lowest traded at $74,436.
The highest trading price of Bitcoin since its evolution is $109,114, recorded on January 20, 2025, and its lowest traded at $0.04865, recorded on July 10, 2010.
