Bitcoin has just taken another big step toward mainstream acceptance and usability with the announcement that DISH Network Corp (NASDAQ DISH) will allow subscribers to pay their bills with the digital currency starting next quarter. As a Fortune 200 company with more than 14 million subscribers, Dish is now the largest company to accept Bitcoin payments.
The pay-TV company has contracted with Coinbase to handle the transactions. Coinbase will credit dollars to its account. From DISH’s point of view, Bitcoins are just another payment method that ultimately puts dollars into their hands.
If it keeps customers happy and lets them save money on transaction fees compared to Visa and MasterCard then the new policy doesn’t have any obvious drawbacks.
News on Bitcoin Payment Acceptance by DISH
“We always want to deliver choice and convenience for our customers and that includes the method they use to pay their bills,” said DISH Network Corp (NASDAQ DISH) executive vice president and chief operating officer Bernie Han in a statement. “Bitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals.”
One of the fault lines that divides Bitcoin bulls and bears is whether the new technology is seen as a payment system or an actual currency in its own right. In this case, DISH Network Corp (NASDAQ:DISH) isn’t looking at Bitcoin as a store of value, but the announcement is still good news for anyone who believes otherwise. Since Bitcoin is inherently deflationary, speculators don’t have to worry about some central authority devaluing their holdings.
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Bitcoin Financial News
This move from DISH shows the resilience of the Bitcoin currency after a string of scandals and regulatory actions raised doubts about Bitcoin’s future. The collapse of a major trading exchange helped lead bitcoin to lose two-thirds of its value in four months, but its price has rallied 27% over the past week. Coindesk’s Bitcoin Price Index was quoted at $565.55 at late afternoon in New York.
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