Small Business Owners Are Becoming More Comfortable With Taking Bitcoin as Payments

cryptovest.com

70NEWSJAPAN - A report was released on Wednesday noting that 60% of the merchants who were asked about accepting Bitcoin said they would. The findings were a part of a survey called "SQ Survey: Merchants Say YES! To Bitcoin."

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On that note indicating that Square had plenty of room to run, its stock soared. It hit an all-time high of $54.84, during intraday trading.

In mentioning the percentage of U.S. merchants who are willing to accept Bitcoin over cash, Dolev wrote this was particularly interesting given Bitcoin’s price volatility in recent months. In fact, at the time of writing Wednesday, Bitcoin was barely trading above $8,000. It was trading around $9,800 at the beginning the week.

The survey also found broad satisfaction for Square's services among merchants, with 38% rating Square as excellent and 58% rating it as good, noted Market Watch.

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We’ve reported to you that Square had expanded its Cash App to allow more users to buy and sell Bitcoin with their phones. The app was rolled out to select users last year, but now the number of users has been expanded to include most of its customers. Dolev estimates there are roughly seven million users.