Arguably one of the biggest online Gold dealers APMEX has started accepting Bitcoin payments. In their report on 8th December APMEX said they would accept cryptocurrency payment through the integrated Bitpay. The company has even started offering discounts for people who buy using Bitcoin in order to attract more people to purchase the currency.
In a statement released through its website, APMEX stated that: “For many years which may be up to 15 APMEX has been the industry leader in this industry. The company has been changing and growing with the needs of the customers. As Bitcoin continued to gain popularity and acceptance as a means of payment we are happy to also welcome it. You can now buy Gold using Bitcoin. More to Gold you can use the cryptocurrency to buy Silver and the other precious items in our company. We have intergrated Bitpay in our Website to facilitate the process.”
APMEX is not the only company trading precious metal that has started accepting Bitcoin. Other companies like Sharps Pixley announced in September that it would accept Bitcoin as a means of payment. With Bitcoin being referred to as the digital Gold there has been an argument in some spheres of the industry even its mining sector. In fact, some investors in precious metals like John Hathaway have spoken very negative about cryptocurrencies.
In a past statement, Hathaway was quoted stating that: “Bitcoin is an absolute bubble. I think in a straightforward way, and there is no question in my mind that Bitcoin is a bubble.”
As more companies accept Bitcoin as a means of payment, they help the currency into the mainstream. This acceptance gives investors’ confidence about investing in Bitcoin. When Big and reputable companies invest and accept Bitcoin, they help Bitcoin to grow. This will, however, push the price higher making it more expensive to afford.