NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

The 100 Million Bitcoin Users Case – Could Bakkt Massively Boost Adoption?

Davit Babayan
Davit Babayan
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bakkt, a digital asset platform which is set to introduce the very first physically-settled bitcoin futures, will launch later this year. And, according to Alec Ziupsnys, the launch could legitimize the dominant cryptocurrency before 100 million potential users per week.

The chief innovation officer at BlockEdge Capital tapped on how Bakkt’s partnership with Starbucks was a key to bitcoin awareness. He suggested that the American coffeehouse chain was processing the mobile transactions of up to 25.6 million every day. In comparison, Apple Pay and Google were handling a lesser 24.5 million and 12.4 million sales every day, respectively.

https://twitter.com/AlecZiupsnys/status/1099120779457937408

The statement followed months of speculation about Starbucks accepting bitcoin as one of the payment methods. At the time of Bakkt announcement, media had wrongly perceived the story as the coffeehouse chain’s interest in bitcoin.

However, in a clarification shared with Motherboard, Starbucks admitted that it was not going to accepting bitcoins anytime in the future. At the same time, the company said that its partnership with Bakkt would focus more on helping people who want to spend their bitcoins.

“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,” a Starbucks spokesperson told Motherboard. “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 space evolves.”

Analyzing Ziupsnys’ Statementon Bitcoin

There are around 14,606 Starbucks stores across the world, according to Statista. As of now, these stores have an average of just over 500 customers every day. But, according to a report from Trefis, a US-based market analysis firm, the number would grow to more than 750 by 2020.

The study found that an expanded food menu, a mobile app, and introduce fresher mobile payment options would back Starbucks’ growth. That said, considering the coffeehouse chain will not open new stores, the total number of users it would serve could reach a minimum 11 million every day.

7/ Phase two is a mystery. Bakkt hasn't said what it is or when it's coming.

Given all the talk about "spending" via Bakkt, I'm guessing it's some type of consumer-grade payment system. Maybe the kind you'd use at Starbucks to buy coffee with bitcoin. We'll have to wait and see.

— Jake Chervinsky (@jchervinsky) November 6, 2018

Ziupsnys believes Starbucks to be a natural advertiser for bitcoin is the growth potential. Per the Bakkt announcement, it would be mainly focusing on “spending” in its phase-2 development.

It is not necessary that their so-called payment application would focus on bitcoin, which remains to be highly volatile in terms of pricing. It is possible that the company would look into using a stablecoin. But, in the end, at least those “100 million” Starbucks customers would know about bitcoin. At least, that is what we could interpret from Ziupsnys’ tweet.

https://twitter.com/AlecZiupsnys/status/1099123617751842817

The Bottoming Out

In near-term, Bakkt could be just the catalyst bitcoin needs to come out of its most extended bear cycle. A federally regulated platform would allow the digital currency to broaden its horizons among serious investors. Atop that, it would also pave the way for the approval of crypto-based exchange-traded funds by resolving the core underlying issue – the lack of trusted price information. As Bakkt CEO Kelly Loeffler stated:

“A critical element to price discovery is physical delivery. Specifically, with our solution, the buying and selling of Bitcoin are fully collateralized and pre-funded. As such, our new daily Bitcoin contract will not be traded on margin, use leverage, or serve to create a paper claim on a real asset. This supports market integrity and differentiates our effort from existing futures and crypto exchanges which allow for margin, leverage, and cash settlement.”

Bitcoin could effectively bottom out after Bakkt’s launch. At the same time, Starbucks’ involvement in the project could boost digital currency’s awareness among a wider mass. It is the first step towards a potential adoption.

Tweet123Share280ShareSend
Davit Babayan
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

crypto scam, crypto

Happy Ending: Crypto Hacker Returns Funds From $42 Million GMX Exploit

In a positive development for the crypto community, the individual responsible for the GMX exploit accepted the platform’s bounty and...

Rubmar Garcia 8 hours ago

迷馬斯克發言引爆PNUT價格爆漲20% 迷因幣火熱本周末不能錯過的1000倍幣!

當迷因文化與宏觀趨勢在加密市場中交會,便構成了我們當下所看到的雙重敘事。2025年7月,加密貨幣再次成為話題核心,一邊是馬斯克發言引爆的PNUT爆漲現象,另一邊則是技術預期與基礎建設共振下的Bitco...

Mark Mak 10 hours ago

比特幣強勢爆發 標普創歷史新高 SPX6900與T6900代幣蓄勢待發 即將引爆新一輪行情

比特幣($118,661)勢不可擋,連破歷史新高;標普500指數(SPX)本周同樣創下歷史高點;迷因幣 SPX6900 雖尚未登頂,但勢頭強勁;而剛剛橫空出世的 TOKEN6900 (T6900) 也...

estherw 11 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Crypto Founder Pushes Ethereum As World Reserve Asset: A Yield-Backed Store Of Value

Crypto Founder Pushes Ethereum As ‘World Reserve Asset’ – Details

Sebastian Villafuerte 4 hours ago

Why The Solana Price Could Crash To $95 Before Reaching $200

Scott Matherson 6 hours ago
Dogecoin koers klaar voor groei dankzij whale activiteit?

Dogecoin-whaleactiviteit stijgt met 112%: explosieve groei verwacht

Lars Diederiksen 6 hours ago

Premium Sponsors

Press Releases

  • [Lightning Launch] CoinBase Miner Earns $9141 a Day...

    3 minutes ago
  • 4 kryptomeny, vďaka ktorým toto leto zmeníš 1000 € na...

    16 hours ago
  • 3 altcoiny do obserwacji w drugim tygodniu lipca 2025 roku

    3 altcoiny do obserwacji w drugim tygodniu lipca 2025 roku

    17 hours ago
  • 4 kryptowaluty, dzięki którym tego lata zamienisz 1000 zł w miliony

    4 kryptowaluty, dzięki którym tego lata zamienisz 1000...

    17 hours ago
  • 4 criptomonede cu care poți transforma 1000 de lei în milioane vara aceasta

    4 criptomonede cu care poți transforma 1000 de lei în...

    20 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.