LATOKEN-NEWS: More Companies Accepting Payments in Cryptocurrencies

Earlier this week, on June 21st, Sotheby’s, the international art and jewelry auction house, announced that in an upcoming auction, cryptocurrencies are going to be accepted as a payment option. The auction that is scheduled for July 9th of this year will be for a 101.38-carat pear-shaped diamond with flawless clarity. It is the first time a diamond of this size is being sold for cryptocurrency.

According to the official twitter account of Sotheby’s, it is a significant moment in the market evolution of the art and jewelry market. It is also significant when it comes to crypto and how it is being used for consumer products and services with wildly different price points.

Meanwhile, another auction house, Lloyds Auctions Australia, has begun accepting cryptocurrency for all purchases on its marketplace. Within the first couple hours of launching the crypto-payment method on their website, a caravan was sold for AU$100,000 (US$76,000) worth of Bitcoin. The auction house saw an increased interest since launching the crypto payment method.

Brett Mudie, Lloyds Auctions head of Marketing says: “Cryptocurrency and blockchain technology undoubtedly is something that’s going to be playing a large role in the future, and we see there’s increased demand for cryptocurrency.”

In addition to auction houses, higher education institutions are also jumping on the trend. The Universidad Americana, a university in Paraguay is going to accept Bitcoin and Ethereum, starting on August 1. This will make the university one of the other seven universities that accept cryptocurrency for their tuition payment.

The boom that we are seeing currently, with more and more organizations, and businesses implementing cryptocurrencies is likely to continue in the future. Currently there are some big names on the list of organizations that accept bitcoin as a payment method: MIT, Paypal, Microsoft, Starbucks, Whole Foods Market. The demand and high interest to pay with cryptocurrencies show that people are realizing the whole potential of blockchain technology and how it can transform businesses and transactions.

In order to keep up with the most recent topics and news in crypto, we invite you to follow LATOKEN on Medium, on LATOKEN Blog or LATOKEN VCTV channels.


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