It would contribute a huge new source of potential
BTC buyers, but it will also drive down the price. We have seen this same thing, when Dell/Overstock/Microsoft adopted
BTCYou see a short term increase in the price, when the announcement is made to the public, and then you see a downward spiral. The reason for this :
1. The hype {good news} will increase
BTC purchase from current
BTC speculators and traders. They buy low and sell when it's just a little bit higher. Then the downward spiral begin again...
2. The BIG merchants, CONVERT every
BTC they get, back to fiat. {Because they have to pay their bills in fiat} This increase the supply of
BTC on the exchanges and the price goes down.
3. People would not just convert from fiat to
BTC - There must be some incentive for them to do it. {So this does not mean immediate increase in NEW adopters}
These are just some of the reasons, why I am not happy, when I see a BIG company/merchant adopt
BTC.