How Many Businesses Accept Bitcoin in 2024? (U.S. Stats)

Bitcoin was first registered in August 2008.

It was one of the first attempts at a cryptocurrency.

Today, it is possibly the best-known cryptocurrency in the world and is now recognized as a significant store of value, both online and offline.

Bitcoin can be used in the sale way as cash to purchase items.

It can also be used as a store of value.

That means it can be held onto in the same way as gold, property, or stocks would be.

It’s possible for the value of each bitcoin to rise.

Bitcoin is seen as a trustless system.

That actually means you deal directly with other people, there are no middlemen, such as the bank when you make a payment by electronic transfer.

Naturally, Bitcoin has faced an uphill struggle to be recognized and accepted.

It took two years before it was used to pay for physical goods.

This happened on May 22 when 10,000 mined Bitcoins were exchanged for two pizzas delivered by a local restaurant in Florida.

The rate was negotiated on the Bitcoin forum.

At the time it was deemed good value.

Today, with one Bitcoin worth USD 25,980.14, it would have been two very expensive pizzas.

Bitcoin has come a long way since that first purchase.

It’s time to take a look at how many businesses accept Bitcoin today.

Post Contents

1 Key Statistics
2 How Many Businesses Accept Bitcoin? Statistics You Should Know
3 FAQs
4 Top Reasons To Accept Cryptocurrencies
5 Summing Up
- 5.1 Sources

Key Statistics

Approximately 2,300 US businesses accept Bitcoin
An estimated 15,174 businesses accept Bitcoin globally
As of April 2022 there are 36,659 Bitcoin ATMs in the US
In 2022 there were approximately 260,000 Bitcoin transactions completed daily in the US
40% of people that use Bitcoin are new customers
Over $1 million is spent daily in the US with Bitcoin
Binance is the largest Bitcoin marketplace
There are five main industries accepting Bitcoin
66.8% of Bitcoin is held by the Information Technology industry
10% of people across the globe own cryptocurrency

How Many Businesses Accept Bitcoin? Statistics You Should Know

An Estimated 15174 Businesses Accept Bitcoin Globally

1. Approximately 2,300 US Businesses Accept Bitcoin

There are approximately 33 million businesses in the US, the majority of which are classed as small businesses.

Current estimates suggest that 2,300 US businesses accept Bitcoin.

This is a small percentage of all the businesses in the US.

However, you may be surprised to discover some of the businesses that do accept Bitcoin.

Microsoft and ATT are two of the biggest and both accept Bitcoin.

As does Burger King, KFC, Pizza Hut, and even Subway.

The percentage of US businesses accepting Bitcoin is low, but there are some significant names in the mix.

It should be noted that if you include all cryptocurrencies, approximately 10 million US businesses accept some form of cryptocurrency.

(Zippia)

2. An Estimated 15,174 Businesses Accept Bitcoin Globally

It’s estimated there are 334 million businesses on the planet; just 15,174 of these currently accept Bitcoin.

However, that’s a significant improvement on 2010 when the first business took payment by Bitcoin.

Some of the biggest companies in the world to accept Bitcoin are US-based, such as Microsoft and PayPal.

Globally, AXA Insurance and Pavilion Hotels are two of the biggest players in Bitcoin.

However, there are thousands of small businesses prepared to accept Bitcoin in payment.

A small business can keep the Bitcoin as an investment or use it to purchase other items.

Predictions suggest that the number of businesses accepting Bitcoin will continue to grow.

(Zippia)

3. As Of April 2022 There Are 36,659 Bitcoin ATMs In The US

In April 2022 Bitcoin confirmed there were 36,659 Bitcoin ATMs in the US.

That’s a significant increase in the number of ATMs in January 2021.

Records indicate there were just 14,038 ATMs.

In other words, the number of ATMs in the US has multiplied by 144% in just over a year! That’s an impressive testimony to the rise of Bitcoin.

This isn’t the first time there has been a steep climb in Bitcoin ATM numbers.

In 2016 there were just 53.6 Bitcoin ATMs, in 2017 there were 969, and by 2018 this had jumped to 2,074.

It doubled again in 2019 to 4,107 and climbed a further 2,000 in 2020.

The last two years have seen a huge increase in ATM numbers.

It should be noted that a large part of this is driven by the biggest retailers.

For example, Walmart intends to install 8,000 Bitcoin ATMs within the next two years.

(Zippia)

4. In 2022 There Were Approximately 260,000 Bitcoin Transactions Completed Daily In The US

Bitcoin is growing in popularity daily.

Millions of transactions are processed daily.

However, in 2022, 260,000 of the Bitcoin transactions were based in the US.

In short, the US is the biggest marketplace for Bitcoin.

That’s not surprising as both one of the world’s biggest economies and a country with a reputation for being forward-thinking.

Surprisingly, New Mexico has the most Bitcoin ATMs.

This is even more surprising when you find out that 35% of all the Bitcoin ATMs in the US are in either Texas or California.

It’s worth noting that California is deemed the state most ready for cryptocurrencies.

Currently, 22.77% of the total Bitcoin available in the world is transacted in the US.

That makes the US top in terms of trading Bitcoin, Russia takes second with 16.55% of transactions.

(Zippia)

5. 40% Of People That Use Bitcoin Are New Customers

This is an interesting fact, almost half of the people who pay using Bitcoin are doing so for the first time.

It reflects the willingness of people to embrace new methods of doing things.

What’s impressive is that, on average, people purchasing items with crypto are spending twice as much as the average credit card user.

This could be linked to a lesser understanding of the value of cryptocurrencies.

Equally, it could be that people find it easier to spend digital currency.

(Zippia)

6. Over $1 Million Is Spent Daily In The US With Bitcoin

One bitcoin is currently worth around USD 20,000.

However, the beauty of Bitcoin is that it can be divided into pieces.

Unlike a 100 dollar bill that can be divided into one thousand cents, one Bitcoin can be divided again and again. There is no limit.

This means it can always be used to purchase items, no matter how small or the level of inflation.

It’s still impressive that, according to the latest records, over $1 million is spent every day in the US with Bitcoin.

In short, people are becoming more aware of the possibilities with Bitcoin and are not afraid to use it.

(Statista)

7. Binance Is The Largest Bitcoin Marketplace

When Bitcoin was first launched all transactions were completed via the Bitcoin marketplace.

This is where a buyer and seller would negotiate to settle on the number of Bitcoin required for a transaction.

Naturally, when it was first used Bitcoin had a very low value, meaning a lot of Bitcoins were necessary for even a small purchase.

Today the scenario has changed drastically as each Bitcoin is worth approximately USD 20,000.

Transactions are no longer exclusively carried out on Bitcoin.

As other cryptocurrencies have gained a foothold, various marketplaces have sprung up to facilitate trades.

Binance is currently the largest marketplace.

It supports over 350 cryptocurrencies, has more than 150 million registered users, and trades roughly $38 billion every 24 hours.

Binance connects with over 1,500 markets and sees an average of 32 million visitors to the site every week.

It’s the main hub for all cryptocurrency transactions, including Bitcoin.

(Buybitcoinworld)

8. There Are Five Main Industries Accepting Bitcoin

Anyone can accept Bitcoin.

They’ll need a Bitcoin account to receive funds and negotiate with the buyer to determine the number of Bitcoins which is deemed fair for the transaction.

However, generally speaking, there are five industries which willingly accept Bitcoin and you don’t need to negotiate with them.

The main industries are gambling, banking, food, retail, and tourism.

An impressive 50% of Bitcoin transactions are related to an online game or gambling activity.

In fact, the vast majority of casinos actively encourage visitors to use Bitcoin.

They give bonuses when you use it.

The main industries all attract large volumes of people weekly.

They can’t afford to lose out on regular customers because they don’t offer the latest payment option.

(Zippia)

9. 66.8% Of Bitcoin Is Held By The Information Technology Industry

The information technology industry doesn’t conduct the highest volume of Bitcoin transactions.

However, it does have more Bitcoin holdings than any other industry.

The sector may be holding Bitcoin for individual companies or even governments.

The fact that it’s the largest industry sector by holdings is logical considering Bitcoin is a digital technology and this industry is the one driving digital technologies forward.

(Zippia)

10. 10% Of People Across The Globe Own Cryptocurrency

Interestingly, while research shows that 10% of people across the planet have some form of cryptocurrency, figures show that 16% of Americans have already invested in a cryptocurrency.

While there are several currencies, none are yet anywhere near as valuable as Bitcoin.

That’s why most investments are in Bitcoin.

The figure of 10% has grown dramatically in the last few years as Bitcoin and cryptocurrencies have become more mainstream.

(Statista)

FAQs

Check out the answers to the most common questions:

Can small businesses accept Bitcoin?

Yes!

Any business can accept Bitcoin.

You simply need to create a branded cryptocurrency wallet and sign up with one of the exchange marketplaces, such as Binance or Coinbase.

This will give you the account and the ability to accept Bitcoin and convert it into another currency if you wish.

To finish, simply add a payment option to your website, making it easy for customers to pay via Bitcoin.

Is Bitcoin here to stay?

Bitcoin has experienced several significant falls in value, and subsequent climbs.

That has made some financial institutions wary of it and its reliability as a currency.

There is no doubt that Bitcoin still faces an array of issues, including security issues.

However, it is becoming more and more accepted by the general public.

It’s just a matter of time before this happens.

In short Bitcoin’s value may go up and down but it’s here to stay.

Are there any risks associated with accepting Bitcoin?

Yes.

Bitcoin isn’t the same as traditional money, its value can fluctuate significantly in a short period.

For example, during 2021 one Bitcoin started at $60,000, dropped to $30,000, climbed back to $58,000 and then dropped back to $20,000.

In short, if you accept Bitcoin and then use it straight away there is very little risk.

However, if you hold onto it, the value of your Bitcoin may rise or fall.

That could mean you have sold your products for less than they are actually worth.

Top Reasons To Accept Cryptocurrencies

An increasing number of businesses are accepting Bitcoin and with good reason.

In fact, there are several reasons to accept Bitcoin:

Very low Transaction Fees

Most financial intermediaries, such as PayPal, will make a charge for using their service.

In many cases it’s a percentage of the transaction paid by the seller.

The charge per transaction is fairly small but they add up.

Bitcoin generally has much lower or zero charges, saving you a lot of money.

No Chargebacks

As a business owner it can be very frustrating to receive a chargeback before you even have a chance to resolve an issue with a customer.

Using Bitcoin eliminates the possibility of chargebacks.

Once completed each transaction is final and can’t be reversed.

Increased Customer Base

As Bitcoin becomes accepted in more and more countries, you’ll find that your acceptance of it opens new marketplaces.

That’s customers who prefer to use Bitcoin and who won’t use your service if they can’t pay this way.

In short, accepting Bitcoin can increase the number of sales you make.

Summing Up

The question isn’t how many businesses accept Bitcoin, it’s how many are going to accept it in the next 5-10 years.

As you’ll see from the above statistics, it’s increasing in popularity and the number of businesses in the US, and across the globe, is likely to grow significantly.

In short, if you haven’t already started investing in Bitcoin, now may be the right time to start.