Stephen Gandel, Columnist

Bitcoin Is Hot, But Good Luck Using It

The frenzy around the digital currency obscures the drawback that it's difficult to buy anything with it.

December 1, 2017 at 1:53 PM UTC

Stephen Gandel is a former Bloomberg Opinion columnist covering banking and equity markets. He was previously a deputy digital editor for Fortune and an economics blogger at Time. He has also covered finance and the housing market.

1512078602_GettyImages-166307154 — Photographer: Sean Gallup/Getty Images

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Bitcoin seems to be everywhere these days. Finding a place to spend it is another matter entirely.

That flies in the face of popular perception that businesses are trumpeting the acceptance of the digital currency as a form of payment. Looking for a mate? OkCupid stopped accepting cryptopayments a year ago. Booking a flight? Expedia.com and Virgin Atlantic both dabbled in bitcoin but now don't accept it for airfare. A Holiday Inn in Brooklyn no longer books beds for bitcoins.