Latest news from the Modesto-area business scene Updated 6 hours 13 minutes ago Probably, because about all the vast majority of us know about the cryptocurrency is that one is likely worth more than your car right now. But two Modesto businesses are betting big on the digital currency.
Rancho Fresco Mexican Grill in downtown Modesto and a Chevron station on McHenry Avenue are among the first in town to either accept or sell Bitcoin on site. The former has been accepting Bitcoin as payment for its Mexican food for the past year.
The latter recently installed a Bitcoin ATM where people can buy Bitcoin — or more likely a portion of a Bitcoin — with cash. Created in 2009, Bitcoin is a relatively new cryptocurrency originally meant to make anonymous person-to-person transactions without having to use or pay a middleman like a bank or other central administrator.
Since then the global currency has caught on and in the last year its value has shot up — and sometimes back down — dramatically. This past December it hit an all-time peak, at $19,783.06 for one Bitcoin.
This week the currency has been worth around $10,000 per Bitcoin. Sign up today for unlimited digital access to our website, apps, the digital newspaper and more. Read more from modbee.com…
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