Secure your place at the Digiday Media Buying Summit in Nashville, March 2-4
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.
“As much of a bitcoin bull I am, I have to be a realist in talking about retail in the U.S.,” said Ryan Gilbert, partner at Propel Venture Partners, a Silicon Valley-based venture capital firm. “Retail is one of the hardest channels to crack.”
A recent Morgan Stanley report pointed to bitcoin’s slow acceptance as a payment method, noting that the virtual currency’s “acceptance is virtually zero and shrinking.” It said only three of the world’s top online merchants accept it. Still, Bitcoin payments processor BitPay said it’s processed over $1 billion this year from global brands like Microsoft, NewEgg and the the video game platform Steam.
Read the full story on tearsheet.co
More in Marketing
Thrive Market’s Amina Pasha believes brands that focus on trust will win in an AI-first world
Amina Pasha, CMO at Thrive Market, believes building trust can help brands differentiate themselves.
Despite flight to fame, celeb talent isn’t as sure a bet as CMOs think
Brands are leaning more heavily on celebrity talent in advertising. Marketers see guaranteed wins in working with big names, but there are hidden risks.
With AI backlash building, marketers reconsider their approach
With AI hype giving way to skepticism, advertisers are reassessing how the technology fits into their workflows and brand positioning.