Starbucks has always been ahead of the curve when it comes to technological advancements and they take pride in that. They want to improve their customer’s coffee purchasing experience. We all know how Starbucks is a global phenomena. It is part of the huge pop culture and a brand that defines your social status. So it is important for them to keep up with whatever is happening around the world and enhance the user experience.
Moreover, analysts believe that cryptocurrencies increased adoption will drive the prices higher and increase it’s value, eventually forcing it out of the bear market.
The largest coffee chain is now claiming that user’s will be able to satisfy their daily coffee habit at Starbucks by paying through Bitcoins. Now you have two addictions; bitcoins and Starbucks’ coffee.
This will undoubtedly allow Starbucks to maintain their position as technologically savvy innovators. Previously, rumors were going around in the crypto community that Starbucks would be allowing customers to pay for their coffee or food through partnership with the up and coming cryptocurrency platform Bakkt.
However, much to our dismay, it was then corrected that the partnership will not allow customers to make payments directly but instead the Bitcoin will be converted to fiat prior to them making the purchase.
It seems that adopting cryptocurrencies as a method of payment will be the next step in a natural technological evolution for all companies.
Will payments through Bitcoin be normalized in 2020?
A notable venture capitalist explained in an interview that he believes that paying for Starbucks will eventually become a normal experience.
I think when you go to Starbucks to buy a cup of coffee, and you try to pay with dollars, they will laugh at you because you are not using bitcoin or other cryptocurrency… They’ll laugh at you – it will be like the old lady paying out with pennies,” Draper explained during a recent podcast with NBC Bay Area. via @NewsBTC
Draped further chimed in Bitcoin’s praises by saying that it one of the “greatest” that the world has ever seen. It will also be a catalyst for a bigger societal change.
This is one of the greatest technological advances that humanity has ever seen… and it can make a bigger change in society than any of us ever imagined,” he exclaimed.
Bitcoin becoming a typical means of payment would greatly benefit it’s price. The adoption rates would skyrocket towards $250k by 2020. Cryptocurrency can be pulled out of it’s despair by increase in adoption. So companies need to realize what they invest in today will reap benefits later.
There is a market for it right now, people are buying and selling and even integrating it in their daily lives. Some families are also surviving on bitcoin.
As it spreads, it will go up in value. And it is spreading,” Tim concluded.