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Shiba Inu, Bitcoin Now Accepted as Payment by Minnesota-Based Jewelry Shop via BitPay

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Thu, 05/12/2022 - 12:47
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Tomiwabold Olajide
Continental Diamond now allows its customers to use cryptocurrencies as payment
Shiba Inu, Bitcoin Now Accepted as Payment by Minnesota-Based Jewelry Shop via BitPay
Cover image via stock.adobe.com

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Shiba Inu, Bitcoin and other cryptocurrencies are now accepted as payment by St. Louis Park-based jewelry store Continental Diamond.

This move reportedly makes Continental Diamond the first jewelry store in Minnesota to allow its customers to use cryptocurrencies as payment. The jewelry store, which dates back to 1981, will be using crypto payments processor BitPay for its merchant services.

BitPay officially announced support for Shiba Inu in late 2021, which allowed spending SHIB at hundreds of BitPay merchants where Shiba Inu is accepted. Aside from Shiba Inu, BitPay also supports other cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC) and five USD-pegged stable coins (BUSD, DAI, GUSD, USDC and USDP).

Other luxury fashion brands and businesses have also started accepting cryptocurrencies. As reported by U.Today earlier, Gucci, one of the famous fashion brands, stated that it will start accepting Bitcoin, Dogecoin, Shiba Inu and some other cryptocurrencies at select locations in North America.

As previously reported by U.Today, Shiba Inu and other cryptocurrencies are also accepted as payments by luxury yacht charter and brokerage company Camper & Nicholsons. The 240-year-old company accepts cryptocurrency payments for its entire yacht fleet, for buying, chartering and all other services via BitPay.

Large holder buys $207 billion SHIB as price drops to $0.00001

WhaleStats reports that a top ETH whale, "BlueWhale0073," has bought 207,882,946,977 SHIB valued at $2,365,707. Shiba Inu briefly added a zero to its pricetag as it tumbled to lows of $0.000008 on May 12. SHIB has removed the zero and is trading at $0.0000106 at the time of publication.

As stated in an official Shiba Inu blogpost, Shiba Inu's main financial components, Shibarium, SHI and SHIBFE, are presently in development and are nearing completion. Shiba Inu lead developer Shytoshi Kusama states in the blog post, "I refuse to give any hard dates at this time, but I expect to see one or multiple of these technologies before the end of summer or very early fall."

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.