According to the Starbucks Executive Chairman named Howard Schultz, Bitcoin is in a place where it is not yet ‘legitimate’, but could be a trusted cryptocurrency with great potential in the future.
Schultz made the prediction during a post-earnings conference call on Thursday. He stressed that the distributed ledger technology (DLT) behind Bitcoin can be leveraged outside of cryptocurrency-based applications.
As he stated, “I don’t believe that bitcoin is going to be a currency today or in the future,” Schultz said during the conference call, audio of which can be found on the Starbucks website. “I’m talking about … the possibility of what could happen — not in the near term, but in a few years from now — with a consumer application in which there’s trust and legitimacy with regard to a digital currency.”
The former Seattle Supersonics owner also said that Starbucks is not planning to launch its own cryptocurrency, despite the claims and moves of Kodak and Burger King Russia in recent months. Instead, Schultz said that an increasing consumer interest in digital payment options makes it easy for companies like Starbucks to anticipate the future consumer behavior.
“I’m not bringing this up because Starbucks is announcing that we are forming a digital currency or we’re investing in this,” Schultz said,”I’m bringing this up … as we think about the future of our company and the future of consumer behavior,” Schultz said.
Could we see a link between Starbucks and Bitcoin soon?
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