BAKERSFIELD, Calif. - A Bakersfield pet grooming store is now accepting Bitcoin, a decentralized digital currency, as payment for services.
"We can actually exchange it out for cash right away without the credit fees," said David Sidhu, owner of Self Serve Pet Spa in west Bakersfield. "You just got to try and stay ahead of everybody else, that's what we're trying to do with our business," he said.
Sidhu told 23ABC he began accepting Bitcoin around a month ago after communicating with a pet food vendor. So far, he says, nobody has used Bitcoin to pay -- but his customers now have the option.
David Anderson with Moneywise Guys Wealth Management says the demand for Bitcoin has drastically increased in the past two years.
"We saw the price of Bitcoin really go through the roof," he said.
Still, Anderson cautions purchasing Bitcoins due to recent volatility in its value.
On Monday, state lawmakers approved legislation that lifted bans on alternative and digital currencies.
"It more legitimizes it, and more importantly from a tax perspective, they're saying Bitcoin is property," Anderson said.
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