The dynamics of cryptocurrency adoption are evolving swiftly, as more than 6,000 brick-and-mortar businesses worldwide are currently embracing Bitcoin.
As indicated by BTC Map, the latest tally of merchants accepting Bitcoin stands at a consistent 6,332 as of January 8. Over the past year, the number of active locations has tripled since January 2023, surging from the 2,000 mark.
The statistics reveal a breakdown, with 5,535 businesses accepting on-chain transactions, 5,107 merchants accommodating Lightning payments, and 1,050 vendors facilitating contactless transactions.
Bitcoin ATMs Witness First Global Decline in a Decade
While the number of physical vendors accepting Bitcoin has surged, a contrasting trend has emerged in the realm of cryptocurrency ATMs. For the first time in a decade, 2023 marked a decline in the global count of crypto ATMs.
As per Coin ATM Radar, the total number decreased by 11%, dropping from 37,827 at the outset of 2023 to 33,622 at the beginning of 2024.
This decrease was notably pronounced in the United States, which houses 82% of the world’s crypto ATMs. Throughout 2023, the U.S. witnessed a reduction in its crypto ATM count, declining from 32,672 to 27,621.
Conversely, certain regions experienced a different scenario. The European Union observed a slight increase, with the number of crypto ATMs rising from 1,538 to 1,548. Similarly, countries such as Canada, Australia, Spain, and Poland also recorded a rise in crypto ATM installations.
Spot ETFs Awaiting SEC’s Final Decision
In addition to the growing presence of physical stores and ATMs, the impending decision by the U.S. Securities and Exchange Commission (SEC) regarding spot Bitcoin exchange-traded funds (ETFs) further underscores traditional finance’s gradual acceptance of cryptocurrencies.
The crypto community is eagerly anticipating the SEC’s decision, scheduled for January 10, on multiple applications for spot Bitcoin ETFs. The expected approval carries significant implications for the perception and trading of digital assets within the financial industry.
For a spot Bitcoin ETF to commence trading, the SEC must first authorize the 19b-4 filings submitted by exchanges seeking to list these ETFs. Subsequently, approval of S-1 registration applications from the issuers is required.
If the SEC greenlights both requirements, these ETFs could potentially start trading as early as the next business day, potentially on January 11.
