The Rise of Bitcoin: Currency Continues to Become a Medium of Exchange

With the increasing acceptance of merchants and the rise of a circular economy around the world, Bitcoin is increasingly becoming a medium of exchange. In Vancouver, more than 100 local businesses accept Bitcoin through solutions such as coinos; while in Africa, initiatives like the “Revolving Bitcoin Africa Fund” are supporting grass-roots projects in nine countries. Uganda has used Bitcoin for tourism and charity, and a local orphanage has raised more than 40 million. These developments challenge Bitcoin’s role as a means of storage of value only, highlighting its growing widespread use in daily transactions.