BBC and Bloomberg Showcase Latest Examples of Grassroots Bitcoin Adoption

BBC and Bloomberg Showcase Latest Examples of Grassroots Bitcoin Adoption

The diverse use of cryptocurrency in general and Bitcoin in particular were showcased this weekend by two of the staple mainstream media outlets, the BBC and Bloomberg.

The BBC produced a lengthy piece for their World News section highlighting the acceptance of micro payments in Bitcoin and Dash for “nyama choma”, a goat meat barbecue in a rural restaurant in the Nyeri, about 90 miles from the Kenyan capital, Nairobi.

Beatrice Wambugu, the owner of the restaurant, describes herself as “a cryptocurrency pioneer” and has devoted her time to teaching customers about the benefits of digital payments.

“I’ve set aside one day [per week] where I can teach my customers. Whoever asks about cryptocurrencies: ‘How does it work? What is Bitcoin?’ I train them.” She said.

The article admits that to date, her payments in Bitcoin have been modest – about 30,000 Kenyan shillings (£230/$300) in sales from about 20 people – but she draws satisfaction that her classes are increasing understanding of cryptocurrencies within her community.

New York Selling Property for Bitcoin

Bloomberg have been covering another case of recent adoption, this time on what might be considered the opposite end of the socio-economic spectrum, as it reports on New York hedge fund manager Roy Niederhoffer who is selling his Manhattan mansion for $15.9 million, preferably for Bitcoin.

The stunning 19th century property enjoys views over Riverside Park, the Hudson River and New Jersey.

When asked about his preference for cryptocurrency Mr Niederhoffer replied “I’m a big believer in Bitcoin,” and “I really am so bullish on it and I want to own more of it.”

Should a buyer be found willing to part with the asking price of around 2,500 BTC, Niederhoffer says he would pay his costs with fiat – “Whatever the obligations and brokers fees are, I would pay in cash and keep the Bitcoin.”

Some fifty million people are currently thought to hold cryptocurrency of some description, currently less than 1% of the world’ population. According to Statistica, however, the number of Bitcoin ATMs around the world – used as a proxy for determining more general adopton – has nonetheless continued to grow in 2018, despite what have been the most difficult market conditions yet endured by cryptocurrencies over that period.