Many traditional companies are following in the footsteps of Tesla and are beginning to accept Bitcoin payments. America’s oldest wine shop Acker is the latest to join the party.
Established in 1820, Acker is the oldest wine shop in America. It also has the world’s largest rare and fine wine auction house, allowing collectors to sell rare and luxury wines on online auctions every week.
The company announced that it would start accepting Bitcoin and several other cryptocurrencies at retail and auction. Apart from Bitcoin, Acker has opened its payment portal to receive Ethereum, Bitcoin Cash, and Dogecoin. This is in addition to stablecoins such as the PAX, BUSD, and Gemini Dollar.
The new payment option is made possible via crypto payment processor BitPay. In reality, BitPay receives crypto payments on behalf of Acker and then converts them into fiat currencies.
Furthermore, the wine shop has added Bitcoin and Ethereum to its analytics platform Acker Markets. The platform gathers and compares wine auction data from producers, vintages, and regions in the wine auction sector to other financial markets.
Bitcoin and cryptocurrencies, in general, are proving to be more than just a fad. John Kapon, Acker chairman, said:
As one of the oldest licensed businesses in America, Acker is proud to accept this novel form of payment as we continue to evolve in our third century as a company.