PayPal
Starting last week, PayPal will now allow people in the United States to use cryptocurrencies to make purchases from millions of merchants that use their platform, according to a report by International Business Times.
These transactions are now made possible by a new ‘Checkout with Crypto’ feature.
As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies.
Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies.
Dan Schulman. PayPal chief executive said in a blog post
The merchants get paid in standard currency as PayPal converts the Bitcoin to U.S. Dollars.
Elon Musk tweeted out that Tesla is now accepting Bitcoin as a new form of payment.
Starbucks
International Business Times also reports that Starbucks will be implementing a similar system.
Customers can reload their Starbucks card with Bitcoin via the Bakkt app to the coffee chain’s app, and the currency is then converted to dollars.
Additionally, customers have the option to convert the currency into rewards, points, frequent flyer miles, and gift cards to be used at Starbucks.
Our teams worked closely together as Bakkt sought input in developing a unique and trusted payment experience that enables customers to unlock the value of their digital assets in the form of U.S. dollars.
Karl Hebert. Starbucks vice president of global card, commerce and payment
Starbucks and Bakkt have been testing this app and have received over 500,000 participants in the trial. Bakkt also stated that they will have future operations with Best Buy, GolfNow, Fiserv, and Choice Hotels.
The average consumer holds a wealth of digital assets – from gift cards to loyalty points to bitcoin – but lacks the tools to adequately track and utilize their value. We’re thrilled to bring the Bakkt App to the public as a step along our journey to expand digital asset access to all.
Gavin Michael. CEO of Bakkt
The Bakkt app is available in the Google Play store and App Store.
Chipotle
The third report also comes from International Business Times on March 30th:
Chipotle is celebrating National Burrito Day with a special offer for customers that will not only fulfill their craving but will also fill their digital wallets with some cryptocurrency.
The Mexican grill is giving away 10,000 burritos for free on April 1 in addition to up to $100,000 in Bitcoin to several lucky winners.
The contest gives a nod to Stefan Thomas, the founder and CEO of Coil, who, along with Chipotle, launched the new interactive game Burritos or Bitcoin. Thomas is known for losing his hard drive login, which stored $387 million in Bitcoin, and is now urging fans to carry out a mock “chiptocurrency” rescue mission to uncover the digital wallet login.
While Chipotle customers will not log into Thomas’s actual hard drive, they will have the chance to crack the code on the Burritos to Bitcoin game for their chance to win up to $25,000 in the cryptocurrency.
To play, each customer will have 10 tries to guess a valid six-digit code that will win them a free burrito, $500 in Bitcoin, or up to $25,000 in Bitcoin. If a player does not guess the right code in their 10 attempts, they may still win a special offer from Chipotle, the chain said.
The odds of winning a prize break down to a total of 10,000 fans receiving a free burrito, 50 players winning $500 in Bitcoin, and three customers winning $25,000 in Bitcoin, Chipotle said.
The Burritos or Bitcoin offer goes live on Thursday at 9 a.m. PDT and ends at 6 p.m. PDT the same day at burritosorbitcoin.com.
No purchase is necessary to play, but participants must be at least 18 years old and a legal resident of the U.S. Bitcoin rates will be determined as of Thursday at the cut-off time, the company’s rules state.
National Burrito Day is a huge moment for Chipotle as our fans traditionally flock to our restaurants and digital platforms to order their favorites. We’re always looking for unique ways to enhance the celebration, and this year, we’re giving fans the opportunity to acquire two highly valuable assets: Burritos or Bitcoin.
Chris Brandt, chief marketing officer at Chipotle
The giveaway marks Chipotles entrance into the cryptocurrency market as one of the first U.S. restaurant chains to offer such a promotion.
AUTHOR COMMENTARY
With all the buzz surrounding Bitcoin it will drive its stock prices even way higher. Bitcoin will continue to ascend to new heights as more businesses recognize this currency as the new wave of the future.
That being said, I believe Bitcoin is in a bubble right now in the stock market. Some would argue with me on that, but as a Bible believer, I know (as probably you know as well if you follow our reports) that the end game and final solution is the mark of the beast. So at some point, they will have to get the world accepting a new global currency, not one that is technically not controlled by countries’ central banks. I couldn’t give a timeline, but I forecast that this bubble will burst eventually. It could burst when the other ones burst – the ones we have been warning about, but I do not know.
Evangelical Financial Advisor Dave Ramsey Says There Is No Market Bubble
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