With bitcoin’s price climbing to $4,000, its appeal as an investment product continues to gain interest. But one area where bitcoin is still struggling is consumer retail — largely a result of the hurdles of actually getting ahold of the virtual currency, kinks on the customer experience side and additional work for retailers.
A buyer in Austin, Texas, just purchased a house using only bitcoin for payment. This real estate deal is the first to use solely cryptocurrency, and it illustrates crypto’s potential to transform how financial transactions are conducted.
Universities are embracing accepting bitcoin for tuition, with Lucerne University of Applied Sciences and Arts in Switzerland the latest school to adopt. If anything, it’s another clear sign the cryptocurrency is here to stay.