When Bakkt announced their launch back in August many articles started popping out about Starbucks accepting bitcoin in the near future.
The news was not confirmed at the time and Starbuck merely expressed that it will have an important role in the development of applications that empower costumers to convert cryptocurrencies into cash.
However, at the time, Starbucks didn’t express to having any plans on accepting Bitcoin. But today, at the Consensus Invest, Kelly Loeffler, Bakkt’s CEO, said that Bakkt is working with Starbucks to give its clients more alternatives in their capacity to pay, especially with bitcoins.
Anyone else wondering why Starbucks is working with @NYSE crypto exchange @Bakkt? Bakkt CEO Kelly Loeffler says it was “to be able to give their customers more options in their ability to pay…to be able to pay with bitcoin.” at #ConsensusInvest tweeting via @ForbesCrypto pic.twitter.com/TAUiGZ37MU
— Michael del Castillo (@DelRayMan) November 27, 2018
Bakkt which will be offering future contracts with physical bitcoin delivered was planned to launch on December 12th this year bud because of the overwhelming demand it was postponed later on January 24. This delay caused a lot of stress in the crypto markets which are waiting for ETF to be approved.
If Starbucks stars accepting bitcoin the impact would be huge. People that are willing to use bitcoin to buy coffee would be thousands, maybe just for the sake of using crypto. On the other hand, this would be a good step to the mass adoption for bitcoin and cryptocurrencies in general which would draw more interest into cryptocurrency sphere.
However Starbucks did not confirm yet the claim, and many questions arise whether Starbucks really intend to accept bitcoins and if really they wanted to why they need to wait for Bakkt to make it possible when we know that Coinbase already offers these merchant tools which are proven to be functional and practical.
Starbucks already have what they need to accept bitcoin or other cryptocurrencies.
So the question is why are they waiting for Bakkt to do that?
What do you think? Feel free to post your opinion in the comments below.