Tony Gallippi thinks the immediate outlook for Bitcoin is very strong.BitPay is considered among the best payment processing companies in the crypto currency industry.The firm has introduced many new innovations and features over the last few months and the firm’s fondness for bitcoin is obvious.

The recent change in Bitcoin’s price is something that many observers have been waiting for.Payment processor BitPay has been in the news recently because of their landmark partnership with ESPN for launch of a Bitcoin Bowl.Other renowned Bitcoin companies are waiting to benefit from the increased activity and attention in the Bitcoin industry.The Silk Road 2.0 was taken down by the FBI and other government agencies recently, along with dozens other Dark Net or Deep Web marketplaces.

This led to a significant increase in the media coverage of Bitcoin, Tor, and all other crypto currencies.Everyone has their own opinions about Bitcoin and cofounder of BitPay, Tony Gallippi, shared how his company sees the digital currency.He discussed about Bitcoin going into the holiday season. In an interview, the Executive Chairman and Co-Founder offered BitPay’s view on the increasing price of Bitcoin.

He said that the BitPay team thinks the digital currency’s price rise suggests that mainstream adoption is still increasing. The augment also validates crypto currency’s leading position in the market.With passing time, more and more merchants are deciding to integrate bitcoin into their overall payment platforms. He also said that the holiday shopping season boosts the effects.

BitPay strongly believes that the immediate impression for bitcoin is extraordinarily strong.Some people in the Bitcoin community blame the merchant adoptions for the incessant price drop of Bitcoin over the period of last few months.They are convinced that the merchant companies are responsible even though the companies like Coinbase, BitPay, and GoCoin have worked tirelessly to achieve it.BitPay has always considered the industry’s interests as a priority.

This motive is proven by one of the decisions BitPay made. Few months ago, the firm decided to eliminate its fees for the small merchants.They had to sacrifice some of the revenues but they did it anyways to boost the larger Bitcoin economy.The firm also encouraged the Bitcoin industry by offering various services and innovative features.As an effort to bring bitcoin payments to the ordinary people, this leading Bitcoin payment processor launched a new Point-of-sales app called Bitcoin Checkout, which can be used for in-store payments.

It is correct that usually bitcoins received from sales via Bitcoin payment processors are dumped back on the market immediately. However, this is not true for many firms. Companies like Overstock prefer to hodl 10% of their Bitcoin earnings.As there are less chances of fraud and no credit card processing fees involves, using Bitcoin saves merchants a huge percentage of money. Bitcoin customers too have incentives to save their Bitcoin assets.Bitcoin is a great alternative for money transfer and people are finally beginning to realize it.