Deloitte is a very interesting accounting company that has been surveying various clients for a long time and manages to create hype with its seemingly dry reports. One of the surveys that the company conducted recently is more than just curious. It is eye-opening considering the current situation in the market.
The economy is not against Bitcoin
While some government agencies like the SEC are trying to discredit the crypto industry or tag it with some very nasty terminology, businesses seem to be way more interested in actually implementing Bitcoin and other cryptocurrencies in the economy on a much larger scale.
We have already reported on the sudden influx of corporations in the blockchain domain. Disney, Nike, Gucci, Starbucks, Coca-Cola, FIFA, and many other influential brands are foraying into the NFT sphere and announced their blockchain projects that are either in active development or preparing for deployment. These are really big sharks.
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Deloitte’s survey was conducted among retailers on a much lower level. The number of merchants who participated in the survey is over 2,000. Of those, about 30% are already accepting Bitcoin and 39% are looking into opportunities to start accepting them or currently implementing appropriate mechanisms. Interestingly enough, during the period of global recession, the number of clients paying for goods with BTC has increased by 3,200%.
The crypto is on its way to a huge recovery
The next Bull run seems inevitable with so many positive news stories about the industry and many nations making wide strides toward integrating crypto in some way or another. However, the most important aspect of the adoption process is the willingness of merchants and consumers to use cryptocurrencies.
Deloitte’s survey indicates that the demand is already in place and many businesses and buyers want to be able to use their Bitcoin assets. What we need now is better global infrastructure and smart regulations that would make cryptocurrencies legitimate in the eyes of the public yet allow them to remain decentralized, independent, and fully functional.
With over 80% of merchants willing to accept Bitcoin by the end of 2023, the route to adoption seems to be plotted out and clear!