Starbucks Chairman said that cryptocurrencies will be big, but not Bitcoin


Starbucks Chairman, Howard Schultz said that he believes cryptocurrencies will become more and more popular and implement, but not necessarily Bitcoin.

Schultz said that Starbucks is ready to take advantage of cryptocurrencies in coming years as they become more common for consumers. He then explained that he is not sure Bitcoin will still be around when these cryptocurrencies will become mainstream.

On Thursday during Starbucks’ earning call, Schultz declared:

“The reason I mention this is not because I’m talking about Bitcoin because I don’t believe that Bitcoin is going to be a currency today or in the future, I’m talking about the new technology of blockchain and the possibility of what could happen not in the near term.”

He also declared:

“I’m bringing this up because as we think about the future of our company and the future of consumer behaviour, I personally believe that there is going to be one or a few legitimate, trusted digital currencies off of the blockchain technology,” he said.

Schultz, who also denied the fact that Starbucks planned to launch its version of Bitcoin, also added that if they were to launch one, a trusted consumer brand would help make cryptocurrencies more legitimate and trustful in the eyes of fans and critics alike.

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