More consumers want to use cryptocurrencies for purchases, but merchants are hesitant to accept them

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In contrast, only 4% of merchants are accepting crypto as a method of payment, according to a study by Crypto.com released in February. As a result, merchants that enable crypto payment usually partner with third-party services that allow them to convert crypto to fiat currencies, Rodgers noted. Coinbase made the push as part of its efforts to diversify its businesses and boost revenue, as crypto trading volume remains sluggish overall. The company’s shares are trading at around $137.80 Thursday afternoon, heading to its lowest close in history.Crypto companies, funds Michael Saylor’s MicroStrategy Inc. MSTR lost 1.57% on Thursday to $442.01, while it was down 2% over the past five days.

Shares of Block Inc. SQ , formally known as Square, fell 4% to $109.96, with a 9.2% loss for the week. Tesla Inc. TSLA ’s shares went up 6% to $1035.87 while its shares gained 5.1% for the past five sessions.

 

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