Online travel website Expedia Inc (NASDAQ:EXPE) has announced that it will accept Bitcoin for hotel bookings. This means that Expedia is one of the first major online travel agencies to accept the digital currency. If the crypto-currency transactions become popular on the website, it will be rolled into other service lines. Expedia will use Coinbase for Bitcoin processing and it won’t hold the digital currency it receives.
Bitcoin has been rapidly growing over the last 18 months with some volatile fluctuations. Bitcoin was first introduced in 2009. Over 60,000 retailers now accept Bitcoin worldwide.
However, Bitcoin has been dealing with a bit of turmoil lately. Bitcoin exchange company Mt. Gox shut down after a hack attack. Charlie Shrem, a major Bitcoin backer, was recently arrested after he allegedly conspired to launder $1 million worth of Bitcoins to help Silk Road users anonymously make illegal purchases.
Some large companies that have also started to accept Bitcoin include Overstock.com and Dish Network. CheapAir.com also accepts Bitcoin and was the first online travel agency to accept it.