Bitcoin (BTC) Going Mainstream, Accepted By a $4.7 Billion Company

Dalmas Ngetich

1 year ago

2 mins read

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Bitcoin Price steady, may rally
Avnet now accepts Bitcoin via BitPay
Participation low but demand picking up

By collaborating with BitPay, Avnet now joins the likes of Microsoft and Dell as corporations accepting Bitcoin as payment. Regardless, Bitcoin (BTC) prices are steady and could close above $4,000.

Bitcoin Price Analysis

Fundamentals

Based in Phoenix, Arizona and drawing $17.4 billion in revenue, Avnet—one of the largest electronic component distributors in the US and one of the most capitalized Fortune 500 Company has partnered with BitPay, a Bitcoin and Bitcoin Cash payment processor. Because of this tactical—and even profitable shift, Avnet is the third major corporation in the US to accept crypto payments after Microsoft and Dell.

“When a customer elects to purchase with Bitcoin (BTC) or Bitcoin Cash (BCH), Avnet will work with BitPay to verify the funds, process the order and complete the transaction. Avnet and BitPay will also have the ability to manage and process cryptocurrency requests outside the US on a country-by-country basis.”

In days ahead, the corporation will let their customers pay for services using cryptocurrencies in a move that reveals how the world if fast shifting from fiat and embracing a global and trusted alternative. Aside from immutability, the VP of Avnet, Sunny Trinh, pointed at several advantages tied to Bitcoin including cost saving and elimination of barriers common when rolling out products to the market.

Besides, settling with Bitcoin is usually faster and safer than using traditional set-ups charging exorbitant fees. If anything, this has been on the writing for a while. Avnet has been working with Bitcoin.com as they create a secure crypto wallet as the tech-centric company prepares for a transition to cryptocurrency.

Candlestick Arrangement

Even though Bitcoin (BTC) prices are trending inside Mar 16 high low, bulls appear to be in control. It is easy to see why.

Despite demand tapering in the last few days, prices are edging higher. At this pace, we expect a recovery of Feb 24 losses. That is mostly thanks to increasing demand and Bitcoin (BTC) prices rejecting lower lows as they align along the upper BB.

Like in our previous BTC/USD trade plans, every dip should be a buying opportunity with reasonable targets at $4,500. Such is only possible if BTC is steady above $3,800—our breakout level now minor support.

Technical Indicators

Participation is low, and in the next few days, Mar 16 candlestick anchors our trade plan. It has been successful in holding price action in the last few days and has decent volumes—13k versus 7k. Dictated by candlestick arrangements, buyers will be in control if prices race above $4,200. As always, accompanying this move must be high volumes exceeding 13k thereby confirming bull pressure of Mar 5.

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.