Everyone already knows that Starbucks accepts crypto. Except Starbucks

Starbucks wants to be crystal clear: despite recent stories about their involvement in some sort of blockchain project, they are not going to be accepting bitcoin as a form of payment for coffee

Yes, Starbucks is getting into crypto — just not at the cash register. At least not yet.

On Friday, Starbucks and a number of other companies including the Intercontinental Stock Exchange, Microsoft, and BCG announced they were forming Bakkt (Finrazor has already mentioned why launching of Bakkt is a good news for the crypto industry), a company that intends to create a ‘seamless global network’ leveraging ‘Microsoft cloud solutions to create an open and regulated, global ecosystem for digital assets.’

That inspired a wave of headlines speculating that you could soon be able to

pay for Frappuccinos with bitcoin

That was enough for news outlets. Various headlines trumpeted the notion that Starbucks fans would soon be able to pay for their teas and lattes with bitcoin.

It is important to clarify that we are not accepting digital assets at Starbucks. Rather the exchange will convert digital assets like Bitcoin into US dollars, which can be used at Starbucks. At the current time, we are announcing the launch of trading and conversion of Bitcoin. However, we will continue to talk with customers and regulators as the space evolves.


Starbucks does, however, already accept digital payments in the form of its highly used mobile payments app, which reportedly outpaces Apple Pay, Google Pay, and Samsung Pay by millions of users.

So crypto for croissants may very well be in Starbucks’ future. For now though, regular bucks/coins/cards/Mobile Pay only, please.


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Bitcoin Ethereum Litecoin XRP LINK BNB ZRX Technical Analysis Chart 10/13/2019 by ChartGuys.com

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Does Crypto Need a Bitcoin ETF? CNBC Analyst Says Maybe Not

If you have followed the Bitcoin industry’s news cycle over the past two years, you likely would have noticed an incessantly recurring trend: Bitcoin exchange-traded funds (ETFs). These financial vehicles, which have yet to appear in U.S. markets, are believed by some analysts to be the catalysts that could propel this nascent market to new heights. Indeed, an ETF tracking the leading cryptocurrency would give institutions (and possibly retail investors) their first medium for Bitcoin investment. However, not everyone convinced that such vehicles would be the end all and be all for cryptocurrency investment. Related Reading: Crypto Tidbits: Bitcoin ETF Denied, Libra Loses Visa & eBay, SEC Crackdown on Telegram’s Blockchain Bitcoin ETF Hype Unwarranted Speaking on a CNBC “Fast Money” segment last week, Brian Kelly of BKCM argued that a Bitcoin ETF isn’t essential for continued development and growth in this budding space. While many may take this statement as blasphemous, Kelly went on to back up his comment, drawing attention to the fact that there are other up-and-coming on-ramps. The industry investor looked to Fidelity and TD Ameritrade — two giants in the American finance realm — adding that “ultimately you’re going to be able to buy Bitcoin in a regular brokerage account, or it’s going to look like a regular brokerage account. So I’m less concerned that you need a bitcoin ETF at this point in time.” The SEC just knocked back anther bitcoin ETF. @BKBrianKelly breaks it down. pic.twitter.com/C3OfdhG2ru — CNBC's Fast Money (@CNBCFastMoney) October 10, 2019 Kelly’s comment is similar to that made by Sasha Fleyshman, a trader at cryptocurrency investment manager Arca. Fleyshman recently wrote on Twitter that the Bitcoin ETFs that are being so heavily lauded aren’t exactly needed, in that that there already custodial and investment solutions that should spark an institutional entree. I still can't quite comprehend why this space is so incessant on having a #Bitcoin ETF. With what @Bakkt is doing (physically backed $BTC futures/custody), what @DigitalAssets is doing in terms of custody solutions, etc: why are we so hung up on an ETF for "institutional entry"? — Sasha Fleyshman (@ArcaChemist) October 10, 2019 These comments come shortly after the U.S. Securities and Exchange Commission (SEC) slammed Bitwise Asset Management’s ETF proposal, issuing an over 100-page letter on why they believe that this market isn’t ready for a publicly-tradable fund. Where We’re Going, There Are No Institutions CryptoOracle founder Lou Kerner has taken Kelly’s rhetoric further. Per previous reports from NewsBTC, the former Goldman Sachs analyst said that Bitcoin doesn’t need institutions to succeed and rocket higher, citing the fact that a majority of the asset’s growth has been retail-based. Kerner even went as far as to say that the institutions will be the followers in this market, not the trailblazers. Yet, he did admit that institutions will eventually make a true foray into this market, claiming they will be attracted to cryptocurrencies like apples are attracted to the ground. Related Reading: Fun Fact: Bitcoin Price is Up 838,000,000% in Ten Years’ Time Featured Image from Shutterstock Does Crypto Need a Bitcoin ETF? CNBC Analyst Says Maybe Not was last modified: October 13th, 2019 by Nick ChongThe post Does Crypto Need a Bitcoin ETF? CNBC Analyst Says Maybe Not appeared first on NewsBTC.

Bitcoin still making its way into global monetary base

This year the crypto industry lured several companies as well as countries into its ecosystem. While this did put cryptocurrencies and Bitcoin in the mainstream spotlight, several authorities dissed the duo including the President of the United States. When authorities publicly snub cryptocurrencies, the regulatory climate surrounding Bitcoin being a part of the monetary base […] The post Bitcoin still making its way into global monetary base appeared first on AMBCrypto.

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