Eric Gaillard/Reuters
- BitPay said on Friday holders of its Prepaid Mastercard could use their bitcoin on Apple Pay.
- BitPay said it would also add the cards to Google and Samsung Pay.
- Customers were “always looking for new places and ways to spend their crypto,” said BitPay.
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BitPay said on Friday its bitcoin cards could be added to their Apple Wallet, giving cryptocurrency holders a new way to spend via Apple Pay.
“We have thousands of BitPay Wallet app customers using the BitPay Card who are always looking for new places and ways to spend their crypto,” said Stephen Pair, chief executive of BitPay, in a statement.
He added: “Adding Apple Pay and soon Google and Samsung Pay makes it easy and convenient to use the BitPay Card in more places from day-to-day items to luxury purchases.”
BitPay said on Friday that its Prepaid Mastercard holders in the US will be able to add their cards loaded with cryptocurrencies onto Apple Wallet, allowing them to use the currencies for Apple Pay.
Bitcoin prices last week surged to new highs, breaking $48,000 for the first time, as companies adopted the cryptocurrency. Tesla on Monday said it had invested $1.5 billion into bitcoin. Twitter on Wednesday said it's considering adding some bitcoin to its balance sheet. Bank of New York Mellon planned to offer bitcoin transactions, according to The Wall Street Journal.
At least one bitcoin backer predicted its price would climb to $100,00o this year.
On Monday, an RBC Capital Markets analyst raised his firm's price target for Apple shares, saying Apple may benefit from cryptocurrency.
RBC analyst Mitch Steves said Apple could add billions in new business by allowing crypto trading and purchases.
"If the firm decides to enter into the crypto exchange business, we think the firm could immediately gain market share and disrupt the industry," RBC said.