Bitcoin Halving Impact Fades as Demand Takes Center Stage
According to reports, the Open Interest in Bitcoin is now 30 times higher than it was 11 days before the 2020 Bitcoin halving.
More and more institutions are jumping on board the cryptocurrency train as retail companies are accepting crypto as an accepted payment means. In the latest, Sheetz, a convenience store company, has announced plans to allow the use of cryptocurrencies across the United States.
In a press release from earlier this week, the chain store announced that it would be partnering with Flexa – a digital payments provider – as a gateway to allow customers to use cryptocurrency for payments. The store also announced that with Flexa, customers will be able to pay for gas as well as items in-store in more than 600 outlets across the country. Sheetz will be accepting Bitcoin Ethereum, Litecoin, Dogecoin and more.
In the announcement, Sheetz stated that it also plans to allow customers to link their Flexa payments with its rewards programme. This is with the intention to offer customers innovative means and greater convenience when it comes to making payments.
Linda Smith, Payments Manager for Sheetz noted:
“Above all else, our mission at Sheetz is to continue providing our customers with the ultimate one-stop-shop where they can refuel their car and refresh their body. As a result, we are constantly innovating and exploring new offerings to truly give our customers what they want, when they want it, 24/7/365 — that includes accepting many forms of payment. We’re very excited to be working with Flexa to roll out support for cryptocurrencies and other types of digital assets at our stores.”
Cryptocurrency payments benefits better for customers
Trevor Filter, co-founder of Flexa spoke further into the matter, noting that cryptocurrency offers tangible benefits for both customers and retailers. He said:
“With interest in digital currencies reaching all-time highs, it’s easy to lose sight of the fact that there are real, tangible benefits for the merchants who accept them—not only reduced fraud and cost savings, but also a better and more mobile customer experience.”