In May 2023, the industry with the highest share of BitPay payments worldwide was prepaid/gift cards as it made up over one out of four processed payments. At first, consumer electronics was the industry that used BitPay payments the least. BitPay is a Bitcoin payment aggregator based in Atlanta, Georgia, and essentially acts as an intermediary for online merchants. A client can pay with Bitcoin on a merchant's website, but behind the scenes BitPay converts the paid Bitcoin into U.S. dollars which are then transferred to the merchant. This is a notable difference from Tesla's company in March 2021, when they (briefly) announced they would accept Bitcoin and Dogecoin payments directly - without the need for an aggregator - as they wanted to accumulate Bitcoin in their treasury.
Distribution of cryptocurrency transactions processed via BitPay from 2020 to 2023, by industry
Characteristic
May 2020
July 2020
Sep 2020
Nov 2020
Mar 2021
Dec 2021
May 2023
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BitPay. (June 16, 2023). Distribution of cryptocurrency transactions processed via BitPay from 2020 to 2023, by industry [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1142527/bitpay-payments-global-by-industry/
BitPay. "Distribution of cryptocurrency transactions processed via BitPay from 2020 to 2023, by industry." Chart. June 16, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1142527/bitpay-payments-global-by-industry/
BitPay. (2023). Distribution of cryptocurrency transactions processed via BitPay from 2020 to 2023, by industry. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1142527/bitpay-payments-global-by-industry/
BitPay. "Distribution of Cryptocurrency Transactions Processed via Bitpay from 2020 to 2023, by Industry." Statista, Statista Inc., 16 Jun 2023, https://www.statista.com/statistics/1142527/bitpay-payments-global-by-industry/
BitPay, Distribution of cryptocurrency transactions processed via BitPay from 2020 to 2023, by industry Statista, https://www.statista.com/statistics/1142527/bitpay-payments-global-by-industry/ (last visited July 22, 2024)
Distribution of cryptocurrency transactions processed via BitPay from 2020 to 2023, by industry [Graph], BitPay, June 16, 2023. [Online]. Available: https://www.statista.com/statistics/1142527/bitpay-payments-global-by-industry/