Bobos & Wojaks

Get Rich Or Die Tryin

Back Bay Church Now Accepts Crypto As A Form of Payment

Last Sunday, Back Bay became the first Southern Baptist church in the United States to take bitcoins in addition to more traditional payment methods.

 

Pastor Adam Bennet, a Mississippi Gulf Coast native who has been in full-time ministry since 2005, has added cryptocurrencies to the mix of tithe (fundraising) possibilities.

Bennet spoke with a few people in the church who were interested in cryptocurrency, “which developed into a conversation about it.”

“Then I conducted some study and found that crypto is accepted by the Salvation Army. I looked at their platform and ultimately decided to pick one that was more appropriate for us.” he said.

The most well-known cryptocurrency is Bitcoin, yet it is far from the only one. Bennett also has Bitcoin Cash, Dai, Dogecoin, Litecoin, USD Coin, and Ethereum, the second most popular cryptocurrency.

The untraceable roots of cryptocurrencies add to the doubt that many people still feel about using it, despite the fact that adoption has clearly increased.

 

Russell Okung, an offensive tackle for the Carolina Panthers, changed half of his $13 million salary to Bitcoin in December of last year.

 

By late April, the value of Bitcoin had more than doubled, making him one of the highest-paid players in the National Football League at his position and one of the top 25 overall.

 

Bennett highlighted that his church’s entry into cryptocurrency is merely a test of the waters. However, he anticipates that its use will increase in the next few years.