{"id":19804,"date":"2024-11-12T09:09:08","date_gmt":"2024-11-12T09:09:08","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=19804"},"modified":"2024-11-12T09:09:08","modified_gmt":"2024-11-12T09:09:08","slug":"chinese-chip-company-nano-labs-begins-accepting-bitcoin-payments","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=19804","title":{"rendered":"Chinese Chip Company Nano Labs Begins Accepting Bitcoin Payments"},"content":{"rendered":"

Nano Labs, a China-based crypto mining chip designer, has announced that it will accept Bitcoin <\/span><\/p>\n

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as payment for its goods and services through a business account on Coinbase. <\/p>\n

The move is part of the company\u2019s strategy to adapt to the growing demand for digital currency transactions within the technology sector, the firm <\/span>said in a November 11 press release<\/span><\/a>. <\/span><\/p>\n

In the announcement, the Hangzhou-based company, listed on the Nasdaq, described the decision as a step toward embracing financial innovation in the evolving digital economy.<\/span><\/p>\n

EXPLORE: <\/span>Detroit To Accept Crypto For Taxes And Fees In Bid To Attract Blockchain Firms<\/span><\/a><\/strong><\/p>\n

Adopting Bitcoin Enables Greater \u201cPayment Flexibility\u201d<\/span><\/h2>\n

Nano Labs emphasized that adopting Bitcoin enables \u201cgreater payment flexibility\u201d while catering to businesses seeking secure and efficient cross-border transactions. However, the company has not disclosed whether it plans to hold Bitcoin on its balance sheet.<\/span><\/p>\n

Following the announcement, Nano Labs\u2019 stock price rose 2.81% to $3.29, a modest increase. Despite the uptick, the shares remain significantly down, <\/span>dropping<\/span> over 60% from their October high of $8.33. <\/span><\/p>\n

The current value is also far below the all-time high of $96.20 reached in July 2022, shortly after its Nasdaq debut.<\/span><\/p>\n

Nano Labs is now accepting Bitcoin payments through Coinbase, marking a big step in embracing digital currency.#Crypto<\/a> #Bitcoin<\/a>https:\/\/t.co\/iCRlwD2iAM<\/a><\/p>\n

\u2014 Cryptonews.com (@cryptonews) November 11, 2024<\/a><\/p>\n\n

Nano Labs joins a growing list of companies accepting cryptocurrency as payment. Tech giant Microsoft accepts Bitcoin in its Xbox store, while McDonald\u2019s has adopted crypto in El Salvador and Lugano, Switzerland. <\/span><\/p>\n

The Dallas Mavericks NBA team also accepts Bitcoin for merchandise and game tickets via BitPay.<\/span><\/p>\n

China\u2019s stance on cryptocurrency has seen shifts in recent years. Despite a 2021 crackdown on crypto mining and trading, signs of a softer approach have emerged. <\/span><\/p>\n

In September, former Chinese finance minister Lou Jiwei urged the country to closely examine advancements in the crypto space. The same month, a Shanghai court recognized Bitcoin as a unique digital asset with inherent value, marking a subtle shift in sentiment.<\/span><\/p>\n

Meanwhile, Hong Kong has taken steps to regulate and embrace crypto, approving its first spot Bitcoin and Ether ETFs earlier this year. Nano Labs\u2019 adoption of Bitcoin payments reflects a broader trend of integrating cryptocurrency into mainstream business operations.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>10 Best Decentralized Exchanges for September 2024\u00a0<\/span><\/a><\/strong><\/p>\n

Crypto Adoption Reaches Record Levels<\/span><\/h2>\n

According to a report by venture capital giant Andreessen Horowitz, cryptocurrency usage has soared to unprecedented levels and shows no signs of slowing down<\/span>.<\/span><\/p>\n

The report estimates that global cryptocurrency owners have hit a new high of 617 million this year. Moreover, 30 to 60 million active users have <\/span>been engaging<\/span>\u00a0with crypto regularly.<\/span><\/p>\n

In another report, digital asset technology platform Aspen Digital revealed that a growing number of Asia-based\u00a0<\/span>private wealth managers are embracing cryptocurrencies<\/span><\/a>, with some predicting that Bitcoin could reach $100,000 by the end of this year.<\/span><\/p>\n

The report said that digital assets are becoming a popular investment option among Asia\u2019s private wealth sector, with 76% of family offices and high-net-worth individuals (HNWIs) currently invested in cryptocurrencies.<\/span><\/p>\n

According to the report, most participants identified the potential for higher returns as the primary motivator for investing in cryptocurrencies. Diversification and the appeal of using digital assets as a hedge against inflation also emerged as important factors driving interest.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>Best Crypto Affiliate Programs in 2024<\/span><\/a><\/strong><\/p>\n

Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/p>\n

The post Chinese Chip Company Nano Labs Begins Accepting Bitcoin Payments<\/a> appeared first on <\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Nano Labs, a China-based crypto mining chip designer, has announced that it will accept Bitcoin Price Trading volume in 24h <!– ? –> Last 7d price movement as payment for its goods and services through a business account on Coinbase. The move is part of the company\u2019s strategy to adapt to the growing demand for […]<\/p>\n","protected":false},"author":0,"featured_media":19805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19804"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19804"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19805"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}