Some Portuguese residents will reportedly be able to pay for electricity in Bitcoin starting from February.
Luzboa, a small energy trading company in Portugal, will soon start accepting Bitcoin (BTC) as payment for electricity.
The company’s president Pedro Morais Leitão announced the news to Portuguese publication Expresso on Wednesday, stating that the new payment option should become available this month.
According to the executive, Luzboa will create a Bitcoin wallet in the coming days, allowing residents to pay for electricity under a new payment system known as “Bit Spot.” According to Leitão, the firm plans to instantly convert received Bitcoin into euros to protect its business from unstable prices.