Five years since its inception, the digital currency Bitcoin’s roller coaster ride continues with analysts across the world still unable to predict its fate. The collapse of Japanese Bitcoin exchange MtGox, following a number of security breaches badly affected the currency’s reputation making its value freefall, but it has taken many such blows in the past yet managed to keep going. Helping its case are businesses which have shown interest in the crypto-currency and Expedia is the latest to join the bandwagon. Expedia is one of the world’s largest online travel agencies and the company’s announcement to accept Bitcoin transactions as a form of payment will give huge boost to it.
Expedia’s announcement comes after a terrible few months for Bitcoin, which has been plagued by security concerns, and Emily Spaven, managing editor of Bitcoin news site CoinDesk, told the BBC the move was “brilliant news” and it “brings digital currency further into the consciousness of the mainstream”. Quite a few smaller online travel sites already accept virtual currencies, including Travel Keys and CheapAir, Expedia is the only business of its size to officially adopt Bitcoin. Expedia will initially accept the virtual currency for hotel bookings only and is currently restricting the trial to its US website. Customers on Expedia’s US site will have the option of paying with Bitcoin at checkout. The company plans to add the Bitcoin payment option to flight bookings if it gets popular.
[Via – BBC]