The number of merchants receiving Bitcoin has fallen precipitously since the token’s 2017 peak. Before cryptocurrency will be a real option for business, changes need to be madeIn 2017, the Long Island Iced Tea Corp. increased its stock price by nearly 300% in a single day. The popular beverage company didn’t release a new product or announce record sales. In fact, the company changed almost nothing about its operations or product offerings.
Instead, it changed its name. On December 21, 2017, the Long Island Iced Tea Corp. became Long Blockchain Corp. The name change was part of a broad trend of companies capitalizing on the popularity of blockchain technology and digital currencies to advance their businesses and it worked, unfortuantly toady we are not in the same place.
Before businesses can accept Bitcoin or other digital currencies at checkout, they need to become more stable. Throughout its rise in popularity, Bitcoin has demonstrated erratic price behaviors, and it’s not uncommon for its value to rise or fall by double digits in a single day or even within an hour.
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