Bitcoin can now be used to pay AT&T phone bills

It might be no coincidence that AT&T announced their new Bitcoin payment option in the middle of a crypto market bull run. Cryptocurrencies like Bitcoin have long been deemed as value storing assets that have limited use in the real world, and AT&T’s move may further boost trust and adoption rate for the virtual coin as a legitimate alternative to fiat currencies.

AT&T is now the first wireless provider in the U.S. to offer its customers the alternative to pay their monthly bills online via Bitcoin through BitPay, which is the premier payment processor that has been facilitating Bitcoin transactions for online stores since 2011. It should be noted that the new AT&T Bitcoin payment method does not extend to purchases of handsets and other telecommunication devices, and the option only works online, not in storefronts.

Vice president of AT&T Kevin McDorman explained that the company is “always looking for ways to improve and expand […] services.” Another AT&T spokesperson stated that “BitPay provides payment processing services for merchants and is one of the largest bitcoin payment processors in the world. Our customers are on this platform and we are always looking for different ways to better serve our customers.”

The reaction to such news was clearly positive for the Bitcoin price, as the cryptocurrency jumped from around US$7,600 to US$8,000 in less than 12 hours, and analysts believe the bull run should soon break the US$8,500 mark.