Bitcoin Reaches $50K: Google Pay and Apple Pay to Accept BTC Payments

If the current Bitcoin bullish run isn’t enough to make up one’s mind, the flood of recent news and announcements probably should. CME Group introduced Ether futures, Tesla bought $1.5 billion in Bitcoin, and Mastercard is now accepting Bitcoin payments.

This week, Bitcoin payment service BitPay has announced that US holders of its Prepaid Mastercard can add their card to Apple WalletTM and spend with Apple Pay. Their virtual card can be added to Apple Wallet via the BitPay Wallet. Google Pay and Samsung Pay will follow later this quarter.

Stephen Pair, Chief Executive Officer at BitPay, said: “We have thousands of BitPay Wallet app customers using the BitPay Card who are always looking for new places and ways to spend their crypto. Adding Apple Pay and soon Google and Samsung Pay makes it easy and convenient to use the BitPay Card in more places from day-to-day items to luxury purchases.”

The BitPay Wallet app supports an array of options to buy and store crypto and make online payments. Users can instantly buy gift cards from hundreds of top retailers in-store and online. The BitPay app and its competitors are soon likely to boast thousands of top retailers as partners.

The BitPay Wallet app supports Bitcoin, Bitcoin Cash, and Ether, as well as four dollar-pegged stablecoins, USDC, GUSD, PAX and BUSD. The company founded in 2011 raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth.

With Google Pay and Apple Pay entering the ring of cryptocurrency payments in a pandemic-ridden global economy where online commerce has grown like never before, Bitcoin et al will be getting the exposure to Main Street that crypto enthusiasts have called for throughout the years.

As digital currencies expand from pure speculation to the real economy, trading platforms must add crypto to their portfolios to address the exploding demand from investors.