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You Could Soon use Bitcoin (BTC) to Pay For your Starbucks as Early as November

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Crypto-adoption is one of the major driving forces that will send our favorite digital assets to the Moon in terms of value in the crypto markets. We are always reminded of the 10,000 BTC pizza purchase of 2010 that could be worth a few million with today’s value of Bitcoin. But that purchase was necessary to popularize Bitcoin as a medium of exchange for the purchase of goods and service. That particular purchase even kick-started the use of Bitcoin as a store of value to the point where Wall Street firms want a piece of the action.

Yes. Wall Street wants in on Bitcoin. The owners of the New York Stock Exchange (Intercontinental Exchange) has partnered with Microsoft, Starbucks, BCG, and others, to launch the Bakkt Company. The latter firm aims at making Bitcoin and all digital currencies, more visible as viable investment options as well as digital assets to be used in the day to day purchases of goods and services. This is where Starbucks comes into play.

A better explanation of how Starbucks will push the adoption of Bitcoin was given by CNBC’s Brian Kelly in a commentary only a few hours after the Bakkt announcement was made. Mr. Kelly stated that:

“Starbucks are going to allow you to take your crypto and effectively load up a US Dollar card with it. We do not have a problem with that payment system here in the US.

This is more about a move forward and if you look at Starbuck’s history, they are really at the forefront of digital payments particularly in the retail space. To have them involved is more of a signal that this is becoming more of a mainstream.

If you go globally, they are talking about Bitcoin as a global currency…which I believe it could be…People are going to start using Bitcoin to buy their coffee if their currency does not work well.”

With Bakkt being slated to start operations in November, this is where we get the timeline of us being able to purchase coffee using BTC by then. It could be sooner or later and depend on how Starbucks wishes to spearhead the adoption of BTC.

Either way, this is huge news and in the desired direction of Bitcoin and other digital assets, being adopted as a means of investing as well as paying for day to day items such as coffee at Starbucks. This, in turn, means that their value in the crypto-markets could reach for the Moon.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

What Caused So Many Investors to Turn to Bitcoin in 2017?

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Bitcoin (BTC) has been growing increasingly popular in recent years, especially in the last two. About five weeks ago, the coin celebrated its 10th birthday, however, while it has been an entire decade of its existence, it was basically unknown to anyone who is not a particularly interested in new technologies. This all changed in 2017, when Bitcoin’s price skyrocketed from $1,000 to $20,000, making it the biggest trend of the year.

Suddenly, the entire world heard of its name, and cryptocurrencies finally got their place under the spotlight. Investors continued to arrive at the crypto space, cash was flowing, hundreds of new coins emerged, and more optimistic analysts predicted Bitcoin’s price going even higher, potentially reaching $50,000, $100,000, and more.

However, as we know today, it was not to last. 2018 was barely a few weeks in when the market crashed, the prices started dropping, and investors started selling. The profits were quickly lost for anyone who did not cash out in time, and these days, Bitcoin’s price sits at around $3,812. The crash reminded everyone that cryptocurrencies remain as volatile as ever and that they still pose a risk for investors. But, people already knew this, so why did they invest in the first place?

Chart courtesy of TradingView

Bitcoin is alluring

The first thing…

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Bitcoin

Top 5 Presidential Candidates Thoughts About Bitcoin

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The cryptocurrency space is growing larger and has more impact on our everyday life with each new year. Despite the low prices and market crashes in 2018, the situation on the market seems to be taking a turn for the better, especially after a new surge that started on February 8th. However, as we progress through another year of cryptos’ fight for survival and adoption, the 2020 US Presidential Elections continue to approach.

With that in mind, it might be worth knowing what the current major Presidential candidates think about the crypto space, and Bitcoin (BTC), in particular. Of course, no one can know who will get elected and whether the next US President will be a crypto investor or someone who will have no problems with imposing even stricter regulations that might limit the market’s potentials.

Even so, we can at least see what they had to say about the crypto industry, and form some sort of expectations regarding the future based on that. It should be noted that the list does not include every candidate, only the major ones, and those who decided to take a notable stance towards Bitcoin.

1) Cory Booker

Let’s start with the Democratic candidates, the first of which on our list is Senator Cory Booker. Unfortunately, Sen. Booker did not reveal what his thoughts are on Bitcoin and the crypto industry,…

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Why Chinese New Year Affects Bitcoin (BTC)

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Bitcoin (BTC) lost about $100 in value in the last week, and, while reasons behind the drop in crypto prices can often be hidden and unclear — this time, that is not the case. The reason for this drop is believed to be the celebration of the Chinese New Year.

The New Year celebration was over more than a month ago for most of the modern world. However, things are a bit different in China. This is a country which is considered to be one of the oldest ones in the world, with a long and complex history. The country’s traditions are fascinating to many around the world, as so many of them are different from western culture. One of these traditions is the Chinese New Year.

The New Year celebrations in China start on January 28th, which was a week ago. The New Year itself is today, February 5th, although the celebrations and festivities are going to last until February 19th. For the people of China, and all those around the world who follow the country’s tradition, this is the time to relax, take a break, and perhaps travel and visit friends and family. But, what does it have to do with Bitcoin?

China and Bitcoin

Those who are new to the world of cryptocurrencies have likely already heard many stories about China banning Bitcoin trading and…

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