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Largest Natural Gas Company in Czech Republic to Accept Bitcoin

The largest natural gas company in the Czech Republic, Pražská plynárenská, has announced that they will begin accepting Bitcoin payments by June according to their Chief Executive Officer Pavel Janeček.

Pražská plynárenská serves more than 420,000 customers in the Czech Republic. This announcement came shortly after the company announced record profits of 53.9 million USD, up 30 million USD compared to the previous year, with total sales of 544 million USD. A very long and cold winter is stated to be responsible for these record profits.

Starting June, customers will have the option of paying their bill with the Czech Republic’s fiat currency, the Koruna (CZK), or Bitcoin. The company will not hold onto any Bitcoin to avoid market volatility, it will instantly be converted to fiat at the time of payment. The company has decided to accept Bitcoin to appeal to the younger generations and not to appear as an old dysfunctional company.

Additionally, Pražská plynárenská is planning to accept Bitcoin for crowdfunding of green and gas energy projects in and around Prague.

This is not the only example of Bitcoin being accepted by a major company in the Czech Republic. The e-commerce company alza.cz has been accepting Bitcoin from customers since February 2018, and since then thousands of purchases totaling tens of millions of USD have been made with Bitcoin. The Head of Internet Marketing at alza.cz says that most orders paid with Bitcoin are for Bitcoin mining equipment and hardware wallets.

It is quite positive that the largest natural gas company and the largest e-commerce site in the Czech Republic are accepting Bitcoin from their customers, and is a good indicator that Bitcoin will continue to spread across the Czech Republic and the rest of the world on its path to becoming a widespread global currency.

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