Digital marketing agency RankWorks has announced plans to accept Bitcoin as a form of payment for digital marketing campaigns.
The move will make the Canada-based company one of the first digital marketing agencies to accept Bitcoin payments to fund Google Ads campaigns in the US and Canada.
RankWorks cited the increase in the number of blockchain wallet users worldwide, along with significant growth in Bitcoin’s value and market size compared to other cryptocurrencies.
2021 has been a record-breaking year for Bitcoin – it started the year as its value reached $34,000, compared to its previous record of $18,600 in December 2017.
After a few dips, its value soared to $48,190 in early February, setting a new record. Since then, its value has risen multiple times, having peaked around $58,000 at the weekend and currently sitting around $54,550.
RankWorks decision to accept Bitcoin comes at a time when digital transformation is expanding across all levels of different industries and markets.
The company’s President & CEO Chris Keirl said: “There is a big demand from our client base to accept payments in Bitcoin. Since a lot of our clients have eCommerce websites that accept payments in cryptocurrency, the decision to adopt Bitcoin as an option to fund digital marketing campaigns was an easy one.”
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RankWorks offers a proprietary advertising platform that connects Pay Per Click (PPC), Social Media Management (SMM), and Influencer Marketing services to different social media platforms such as YouTube, Instagram, and Pinterest.
“It’s our belief that as long as the demand remains strong in digital advertising, new payment technology options will evolve to suit the needs of our clients. It is our goal as a company to provide our client base with an effective solution to move their business online and market their products and services to mass audiences,” said Director of Marketing & Brand Development Dan Alper.
“By accepting Bitcoin as a form of payment, it will open up new opportunities to grow the RankWorks brand into new markets.”
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The previous Bitcoin high in 2017 was largely driven by amateur investors. After proving that the cryptocurrency could potentially bring huge returns on investments, the 2021 record has been driven by institutional investors enthusiastic to take advantage of Bitcoin’s rising value.
The latest peak comes with the support of billionaire and contender for world’s richest man Elon Musk. His car company, Tesla, revealed that it had made a massive investment in Bitcoin, and may even accept bitcoins as payment for its cars.
As such, the growth of practical uses for cryptocurrencies will help increase their value beyond that of a heavily fluctuating asset. RankWorks’ decision to accept Bitcoin will help cryptocurrencies move into the mainstream.
However, as Bitcoin and other cryptocurrencies grow in popularity, the US FCA has warned investors of the inherent dangers of investing in such volatile assets.
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