In 2023 the use of bitcoin in shops grew by 174%

The number of retail outlets that accept bitcoin (BTC) payments experienced a remarkable growth worldwide during the year 2023, according to data provided by BTC Map, a leading provider of business maps that accept the cryptocurrency.

According to the latest statistics from BTC Map, the number of restaurants, bars, shops and services that adopted the acceptance of this digital asset amounted to 6,126 at the end of 2023, marking a significant increase from 2,207 registered at the beginning of the same year.

Although there is a slight decrease from the peak reached in September, with 6,590 stores, the momentum in the adoption of bitcoin in the commercial sphere is still evident.

BTC Map uses open source data from OpenStreetMap, allowing businesses and users to tag locations where bitcoin is accepted as a form of payment. This increase could also be attributed to the diligence of users in adding new businesses to the database.

The map reveals a greater concentration of BTC-accepting stores in Central and South America, as well as in the United States and Europe. In contrast, a smaller presence is observed in Africa and Asia. In Southeast Asia, the Philippines leads in business adoption, while China, India and Russia show minimal participation, according to the map.

K. Tovar

Source: Cointelegraph

(Image source: James Baltz, Unsplash)

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