Bitcoin Payments Reach Over a Million U.S. Merchants Despite Limited Daily Use
Spiral's report highlights the paradox of Bitcoin's merchant adoption versus its low everyday spending.
Spiral's report highlights the paradox of Bitcoin's merchant adoption versus its low everyday spending. Bitcoin (BTC) is trading at ₹77,53,319 ($81,443.00). This is an original Token Times brief based on reporting by Crypto.news, with live market data added, as of Wed, 28 Oct 2026 11:00:01 UTC.
This development highlights a key tension in Bitcoin's evolution as both a store of value and a medium of exchange, impacting its mainstream adoption potential.
- Bitcoin payments are accepted by over a million U.S. merchants via Square.
- Despite merchant access, everyday Bitcoin spending remains low.
- Spiral's report suggests a gap between adoption and actual use.
- Analyst Predicts Bitcoin Could Reach $1 Million, Citing Dot-Com Boom Parallel
- Bitcoin Payments Reach Over a Million U.S. Merchants Despite Limited Daily Use — this brief
Spiral, a developer supported by Block (formerly Square), has released a report stating that 
Bitcoin payments are now accepted by over a million U.S. merchants through Square's platform. This represents a significant expansion in the accessibility of Bitcoin as a payment method.
However, the report also highlights a paradox: despite the growing number of merchants accepting Bitcoin, the cryptocurrency is rarely used for everyday transactions. This suggests a gap between the technical capability to transact in Bitcoin and the actual behavior of consumers.
The report's frank assessment underscores a broader challenge for Bitcoin's role as a medium of exchange. While it has gained traction as a store of value and investment asset, its use in daily commerce remains limited.
The broader crypto market is currently experiencing a period of growth, with the total market cap at $2.8 trillion and Bitcoin's price at $81,462, reflecting a 24-hour increase of 2.36%. This upward trend in the market contrasts with the limited use of Bitcoin for everyday transactions.
The Fear & Greed Index stands at 51, indicating a neutral market sentiment. This context suggests that while investor confidence in Bitcoin is relatively stable, the cryptocurrency's use as a currency for transactions has yet to catch up with its adoption as an investment.
Since this brief published about 2 hours ago, Bitcoin (BTC) has moved from ₹77,55,128.23$81,462.00 to ₹77,53,319.44$81,443.00 — -0.02%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin reach $82,500 in October?
Crowd-implied probability on Polymarket, ₹9.28M 24h volume, resolves Nov 1 — snapshotted when this brief published (Oct 28 10:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by Token Times and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₹8.18M (about $81,443.00), up 1.9% over 24 hours. The rupee itself trades about 5.5% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Bitcoin Payments Reach Over a Million U.S. Merchants Despite — questions & answers
How many U.S. merchants accept Bitcoin payments?
Over a million U.S. merchants accept Bitcoin payments through Square.
Why isn't Bitcoin used more for everyday transactions?
Despite merchant acceptance, consumer behavior and technical barriers may limit everyday Bitcoin use.
What does Spiral's report suggest about Bitcoin's future?
The report indicates a need for greater alignment between merchant adoption and consumer use for Bitcoin to become a widely used currency.
How much is 1 Bitcoin worth in rupee today?
About ₹8.18M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $81,443.00. The rupee price moves with both BTC's US-dollar price and the USDT/INR rate; use our Bitcoin in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Crypto.news. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.