Germany’s burger king has reportedly announced it will accept bitcoin payments. That means burger king, the world’s second-largest restaurant chain, allows customers to buy their favorite food with bitcoin on the restaurant’s mobile APP. Burger King customers in Germany have already noticed that its mobile app integrates cryptocurrency payment methods and now includes bitcoin options in other payment methods such as Visa card and PayPal.
Burger King is the world’s second-largest restaurant chain, behind McDonald’s in market share. Burger king is mainly engaged in a series of fast food such as hamburgers, French fries, and Fried chicken. It is a giant in the catering industry with a history of more than 100 years. It has more than 10,000 branches worldwide, and its daily customer visits exceed 11 million. Once bitcoin is accepted on a large scale, it could bring hundreds of millions of users to the cryptocurrency market. From aggressively expanding the global restaurant market to perfecting online payment methods through bitcoin, burger king is looking to use cryptocurrencies to further scale up payments.
But would you buy a hamburger with bitcoin? It sounds incredibly unbelievable at the beginning. On May 22, 2010, a young man posted a message on BBS asking if anyone could help him order two pizzas in the store for 10,000 bitcoins. After the Posting, a “kind” user actually bought two pizzas for him and got 10,000 bitcoins. It was the first time a payment was made in a digital currency, and it became known as bitcoin pizza day.
Around the world, more and more industry giants are entering the cryptocurrency market and issuing their own cryptocurrencies by taking advantage of huge user base, like the giant retailer Facebook and Wal-mart (WMT). It is reported that Wal-mart’s currency will be pegged to the U.S. dollar and can be converted into cash at any time which will bring convenience to users in a real sense.
Similarly, burger king, the world’s second-largest restaurant giant with a global user base, has announced its formal support for bitcoin payments, which will directly convert some of its users into cryptocurrency users. In a sense, their behavior draws loads of people’s attention to the whole cryptocurrency market. Over time, there are increasing signs that cryptocurrencies are making their way into our daily lives, including financial investment and daily consumption, etc.
Lucian, chief analyst at BitOffer, points out that the price volatility is too high and the transaction speed is too slow, which makes many regions unwilling to accept bitcoin payment. According to the data of BitOffer exchange platform, the current price of bitcoin is temporarily running at around $10,500, and the overall trend is still in a bullish form. If the launch of BAKKT at the end of this month can spur bitcoin’s rise and lead to another bull market. Let’s have a watch!
