The number of Bitcoin payment merchants will reach more than 6,300 in 2032, which can be found on BTC Map

Have you ever had any experience using Bitcoin for payments in real life? According to statistics from the crypto payment map BTC Map, more than 6,300 stores have been logged in to accept Bitcoin payments in the past year, which is almost three times as many as at the end of 2022.

It seems that as Bitcoin rebounds from its bottom in 2023, merchant adoption of Bitcoin is gradually increasing.

Concentrated in Europe and the United States

According to the supplementary information of BTC Map, there are currently a large number of merchants accepting Bitcoin payments around the world, most of which are concentrated in Europe and the United States. In addition, a total of 64 merchants in the northern, central and southern regions of Taiwan are willing to accept Bitcoin payments (listed on the BTC Map, which has not yet been authenticated by users and can indeed make cryptocurrency payments).

In addition, in terms of payment, the most popular method is on-chain payment, and the second most popular method is payment using the Bitcoin Lightning Network.

Bitcoin is accepted by more and more countries

As the value of Bitcoin is gradually widely recognized, more and more countries are beginning to accept BTC as a real asset. For example, the Argentine government released its first cryptocurrency policy in December last year, thanks to the leadership of “Bitcoin Maniac President” Javier Milei. This policy approves and confirms that Bitcoin and other cryptocurrencies can be used as currencies for transactions in commercial contracts.

We confirm that Bitcoin can be used to make contracts in Argentina. Additionally, other cryptocurrencies and/or commodities such as beef in kilograms or milk in liters can also be used.

High inflation increases cryptocurrency adoption

In 2023, six countries including Turkey, Egypt, Nigeria, Argentina, Lebanon and Pakistan are currently facing the problem of high inflation rates, with In view of the continuous depreciation of the legal currency held in their hands, citizens of these six countries are more actively turning to investing in cryptocurrency to protect their wealth.

According to Chainalysis’ 2023 Global Cryptocurrency Adoption Index report, Argentina, Nigeria, Pakistan and Türkiye are all in the top 20.

For a long time, cryptocurrencies, such as Bitcoin and stablecoins, have been regarded as one of the important options to fight inflation, and the data has further strengthened this view. The growth of the cryptocurrency market not only represents not only This shift in local financial behavior is not just a direct response to current economic woes and unstable currency values.

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