A hotel in Nashville recently became the first in the city to accept cryptocurrency as a form of payment. Bobby Hotel, located on 4th Avenue, now accepts digital currency, including Bitcoin, Ethereum, Dogecoin and stable coin through BitPay, News Channel 5 reports.
Other businesses around the country have been accepting cryptocurrency as payment for a while, but it's a relatively new adventure in Music City. The acceptance of cryptocurrency has grown considerably over the years, especially with the help of well-known companies taking the digital payment.
"I think what we've seen recently with companies like PayPal starting to take cryptocurrency is that the trends are starting to change, and this is going to be a widely accepted payment worldwide," said Jeff Crabiel, general manager of Bobby Hotel.
He continued, "If you look at some of the bigger cities like San Francisco and New York, they're widely accepting cryptocurrency. So Nashville is just starting to get into the game and being one of the first hotels in the nation we're really setting the standard fro what could be the future."
For those unfamiliar with the digital currency, it's not exactly what you would use when on a quick trip to a convenience store. According to News Channel 5, cryptocurrency operates more like stock trading than an exchange of bills, and the value of the digital currency often changes.
"Cryptocurrency isn't typically used for small bills," said Crabiel. "Think of it used for a wedding or a group or long stay on a weekend."
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