NASHVILLE, Tenn. (WTVF) — Nashville's Bobby Hotel is now accepting cryptocurrency payments from guests using BitPay.
The hotel announced on Monday that it is the first hotel in Music City to accept digital money, including Bitcoin, Ethereum, Dogecoin and stable coin.
"I think what we've seen recently with companies like PayPal starting to take cryptocurrency is that the trends are starting to change, and this is going to be a widely accepted payment worldwide," said Jeff Crabiel, the general manager.
Typically, virtual currencies are not spent, and rather traded like stocks or bonds - their value can change by the hour. But recently, businesses are beginning to accept the holdings as payment. For them, it's like taking cash money right out of your wallet. All cryptocurrency transactions are essentially final sale.
Throughout Bobby Hotel, guests can pay with cryptocurrency. Hotel management expects most people to use Bitcoin, for example, for long stays and big events.
"Cryptocurrency isn't typically used for small bills. Think of it used for a wedding or a group or long stay on a weekend," Crabiel said.
Hotel leaders are excited about being on the cutting edge.
"If you look at the some of the bigger cities like San Francisco and New York, they're widely accepting cryptocurrency. So Nashville is just starting to get into the game and being one of the first hotels in the nation we're really setting the standard for what could be the future," Crabiel said.