Use Bitcoins For Your Coffee At Starbucks! How?

Basically, on an average each Starbucks outlet serves 500 clients, which translates 13.5 million clients each day. Each cup of coffee retails at $5 which translates to $68 million, expanding a revenue of $25 billion a year.

Starbucks and Microsoft through the ICE backed Bakkt, plans to build an open, seamless global network. This enables users to buy, sell, store and spend digital assets simply, safely and efficiently. Starbucks along with Microsoft allows its customers to pay for their their triple venti lattes with Bitcoin instead of cash.

The Chief Innovation Officer at BlockEdge Capital, Alec Ziupsnys, knows that the CFTC is yet to approve the launch of Bakkt. Eventually, this will launch the first physically delivered Bitcoin futures which will legitimize Bitcoin. Hence, thrusting it to 100 million customers per week.

Starbucks-Microsoft Partnership

The Starbucks-Microsoft partnership creates a secure cryptocurrency wallet which allows customers to convert Bitcoins to USD or any fiat currency. Basically, all of this depends on the location. Finally, using this the user can buy coffee, but not everyone wishes to convert their Bitcoin to Fiat.  

Suppose if only 1% of 13.5 million clients agree to translate Bitcoin to fiat and buy coffee, this may eventually translate $250 million of added market cap per year. Hence, resulting in a much stable and less volatile crypto market.

Considering this calculation, if one in every ten customers buy coffee with Bitcoin, it translates to $2.5 billion of added liquidity. It may even rapidly increase with the favorability of rates. Additionally, the resistance can be pulled over using the Beta Lightning Network, the one offering instant transactions. This is what Starbucks expects, as it enables low fees. Aiming to please its customers and offer a scalable system that is perfect for Bitcoin.

The Economist, Milton Friedmann, envisioned that the internet is one such source that may reduce the role of the government elaborating which he also said,

The internet is going to be one of the major forces for reducing the role of government. The one thing that is missing is a reliable e-cash, a method by which on the internet you can transfer funds from A to B anonymously.

What is your opinion on using Bitcoins to pay for your coffee at Starbucks? Share your thoughts on our Twitter and Facebook pages.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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