by Gil Davis
Bitcoin has been absolutely smashing expectations lately as far as price goes, hitting $11,000 recently. Even the experts are stunned by this price point and to call it unprecedented is an understatement. As a result Betway, a popular online booker, is taking odds on some Bitcoin-related events including that McDonald’s will be accepting the cryptocurrency by the end of 2018 and pretty good odds at ½ of bitcoin breaking $20,000 in the same time frame.
Betway is offering odds on a few other retailers as well:
To accept Bitcoin before end of 2018 – Odds
- Walmart 1/5
- British Airways 1/3
- McDonald’s 1/2
- Argos 4/5
- Amazon 6/4
- Easyjet 7/4
- Apple 5/2
- Primark 3/1
- John Lewis 7/2
- National Rail 4/1
- Greggs 10/1
- Poundland 10/1
In 2016, this would seem laughable, yet time and time again bitcoin has proven itself to not only recover from its price dips but come back even stronger each and every time. In 2017 alone BTC-USD has risen 900 percent since the beginning of this past year. As always, people are questioning if this is a bubble. But, for followers of BTC, this speculation is nothing new.
So the question left is that of whether BTC is rising due to speculation or due to widespread adoption. Obviously, both are a factor as cryptos, in general, are gaining a mainstream audience on both parties. Alan Alger, Betway’s PR head in London had this to say:
“We are seeing fresh gains for Bitcoin on a daily basis at the moment, leading us to believe that Bitcoin could easily sail past $20,000 before the end of next year… With the steep increase in the number of people getting their hands on Bitcoin, we think it is highly likely at odds of 1/2 that the likes of McDonald’s will begin to accept it. I’m not sure how many fractions of a Bitcoin it would take to buy a Big Mac, but it looks like we will start finding out sooner rather than later!”
Betway seems to hold a lot of confidence in the currency, and since they risk their livelihood on keeping their odds correct, they aren’t a bad source to listen to for this sort of this. Here are the odds they have listed for bitcoin’s price at the end of 2018:
Peak value before end of 2018
- More than $20,000 11/8
- $15,000 – $20,000 13/8
- Less than $15,000 9/4
They’re even calling odds on a list of sports centers in the UK which will start carrying bitcoin ATM’s. It’s not unreasonable to expect this sort of widespread adoption in the near future. The first large companies to get in on BTC will most likely receive plenty of goodwill purchases from staunch users of the currency, but beyond that, as the currency becomes more widespread there’s no good reason for a company not to want to get in on the increased revenue.
Still, the question lingers if BTC is just in a speculative bubble or not. So far, history says no, but there’s always the possibility that this increase is due mostly to investors trying to get in on the ground floor. Experts are arguing, investors are pondering, and the early adopters are grinning at the moment. Only time will tell the future of the Bitcoin, but the odds are in favor for a bright 2018.