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So, Tahini Buys Bitcoin, but Does It Accept BTC for Payment?
125 sats \ 1 comment \ @spiderman 27 Jun bitcoin
Just read on this Canadian fast food chain investing millions in Bitcoin treasury.
Got me wondering, do companies find it more convenient/economical to buy Bitcoin with their treasury reserve, than accepting it as a mode of payment for their main revenue generating products/services?
I mean, may be once in a long while, I hear a new business accepting Bitcoin in very limited capacity (last major one was SteaknShake) but every day I hear another company investing their treasury assets into Bitcoin.
Even those who accept it as payment, likely convert immediately via an exchange to avoid bearing the risk on their book, but those treasury companies seem to prefer the exact opposite, accept fiat from customers to convert to BTC.
Why the mismatch and what factors make one option more favoured than the other?
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5 sats \ 0 replies \ @klk 27 Jun
When you have two currencies (say USD and BTC) and one goes down in value every year while the other appreciates at a very high pace, you have little incentives for spending the good one.
It's still crucial for Bitcoin's success to be adopted as a medium of exchange and not just a store of value. As it grows in adoption and reaches more stable prices, there will be more incentives to use it. Specially for people that are already getting paid in Bitcoin.
Apart from that, the incentives to spend Bitcoin already are: cheaper processing fees for micropayments (LN vs. Visa), privacy, banned items or jurisdictions, ...
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