On 27 November 2015 the bitcoin community celebrates the new Black Friday. Some are waiting for good offers, some for a new spike in cryptocurrency price and some expect bitcoin awareness-raising.

The complete list of merchants participating in Bitcoin Black Friday will only be released on the day itself. However, it is already known that it is more than 150 companies on the list.

Originally an American tradition, Black Friday is the next day after Thanksgiving Day. It is widely regarded as the beginning of Christmas shopping, and many retailers offer special discounts on that day. First Bitcoin Black Friday was held in 2012 when Jon Holmquist recruited 50 retailers to offer special deals on bitcoin purchases.

Many bitcoin enthusiasts hope that bitcoin discounts for Black Friday would boost the popularity of cryptocurrency. Bitcoin.com has published a guide on “How to explain bitcoin to your family this Thanksgiving.” Jon Holmquist believes that mainstream news reports about the event will be a “good press for bitcoin,” a welcome change after the stories about Silk Road and Mt. Gox.

Bitcoin holders also wait for a spike in bitcoin price: in 2014 Bitcoin Black Friday stimulated the price growth from $350 to $380, probably due to people buying bitcoins for shopping or to compensate the ones spent on shopping. However, soon after Black Friday the prices dropped down again, both in 2013 and 2014. 

The guide on Bitcoin Black Friday promises that customers will be able to buy almost anything with bitcoin, including electronics, fashion, books, food, software or entertainment.

However, a Twitter survey by cointrader suggests that only a minority of bitcoin holders will use their bitcoins to buy anything on Black Friday.

Alexey Tereshchenko