Starbucks Not Accepting Bitcoins And Altcoins
Starbucks has clarified that it will not be accepting bitcoins anytime soon. This is contrary to reports that the company plans to do so. Even mainstream media outlets such as Bloomberg were misled into making the publication that the coffee chain plans to commence bitcoin support.
The genesis of the mix up was the announcement by the Intercontinental Exchange that , the operator of 23 global exchanges including the New York Stock Exchange (NYSE) that it plans a build a global ecosystem for digital assets. The project is apparently in collaborations with big names like Microsoft and Starbucks. However, many major media outlets misunderstood it to mean that Starbucks plans Bitcoin support.
Speaking to Motherboard, a spokesman for Starbucks maintained that the company has no plans to commence Bitcoin support soon. He said, “customers will not be able to pay for Frappuccinos with bitcoin,” he continued by saying, “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.”
The Coin Market Rebounds As $5 Billion Added Capitalization is Seen
Over the last 24 hours, coins have seen a lot of positive movement with Bitcoin adding hundreds of dollars. The market capitalization currently stands at $258 billion, an addition of $5 billion.
Ether is currently trading at $413 while Bitcoin has seen high of $7,170. The market volatility has been in play in the past 24 hours and the effect has been seen all over the market. The first two coins have currently added 2 percent in value. The situation is such that it is difficult to predict the direction of the market.
The price of Bitcoin fell hours after the Intercontinental Exchange announced that it was planning a digital asset support. The coin recovered barely 24 hours later and rose to values as high as $7700 before coming down to $6,997.
BTC/USD Price Chart, Tuesday August 7th:
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