The five-year-old digital currency is increasingly being adopted by brick-and mortar businesses, including dentists, pet boutiques — even a small honey business in Utah.
In 2012, about 1,000 businesses used BitPay, the largest processor of Bitcoin payments. Today, more than 26,000 businesses worldwide use BitPay, said Tony Gallippi, its cofounder and CEO.
The majority of those firms are small businesses — about half are in the U.S. and the rest are international. And while a majority are online sellers, Gallippi said 20% are merchants with storefronts.
Most prominent in tech hubs like San Francisco, New York and Atlanta, the shops range from bakeries and wine stores to car dealers and mattress sellers.