As cryptocurrencies continue to gain widespread adoption, Aberdeen-based craft beer company OGV Taproom said it would be accepting crypto payments for its products.
DIGIT.FYI reported today that customers can now purchase the firm’s drinks online using Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).
Daniel Hyland, Operations Director at OGV Taproom, noted that the firm is integrating cryptocurrencies into its list of payments because the asset class has the potential to become an important instrument in the future financial system.
Hyland added that he picked interest in crypto after learning about the disruptive technology and how it can be deployed in the energy sector.
“Bitcoin is the best performing financial asset of all time, bar none and will be a store of value that most blue-chip companies will have included on their balance sheet and retail investors will include as part of their investment portfolio,” OGV Taproom Director said.
Launched last year during the coronavirus (COVID-19) pandemic, OGV Taproom went live as part of efforts to mitigate job losses at its energy unit – OGV Energy.
Hyland commented that the pandemic helped the firm find more clarity in the wider business community.
Crypto as Payment Options
The tremendous rally of major cryptocurrencies and the devastating effect of COVID-19 on world economies prompted several businesses to add the asset to its list of payments.
Reputable businesses like WeWork, Camping World Holdings and Time Magazine, among others, have adopted bitcoin payments lately.
While some firms intend to benefit from the massive rally that is being recorded in the asset class, others have chosen to accept the payment option in order not to lose their competitors.
In March, Coinfomania reported that popular American electric car company Tesla added a Bitcoin payment option to enable U.S. customers to purchase its cars with the world’s largest cryptocurrency.
Tesla noted that it would be using internal and open software to process BTC payments, adding that it would not convert the BTC it got from its electric car sales to fiat.
Tesla’s move came a few weeks after the electric car company made a groundbreaking purchase of $1.5 billion worth of Bitcoin. The company reported last month that the total BTC value in its possession had since spiked to $2.5 billion.