Walmart and Starbucks Enter the Crypto Era: What Awaits Investors?

Walmart and Starbucks Step into the Crypto Era

Leading retail giants in the US, Walmart and Starbucks, are taking significant steps to popularize the use of crypto assets in payments. This development is seen as an important signal for the increasing acceptance of cryptocurrencies in shopping.

Walmart's Crypto Strategy

Walmart offers its customers the ability to convert their crypto assets into cash for payments through the OnePay mobile application. Users can sell their digital assets, such as Bitcoin or Ethereum, through the app to make purchases. At the payment stage, they complete transactions by scanning the barcode in the app or using online methods.

The Role of Starbucks

Starbucks has integrated crypto payments through the SPEDN mobile application since 2021. However, no major retailer has yet accepted crypto assets as a direct payment method. This situation indicates that development in the sector is ongoing.

Advantages and Challenges of Crypto Payments

Brian Spinelli, Co-CIO of Halbert Hargrove, points out that these stores have not yet accepted direct payments in crypto. However, the ability to convert crypto assets into cash presents a significant advantage for many consumers. This system's ease is especially notable for a large segment of the population in the US who do not have bank accounts.

CK Zheng, Founding Partner of ZX Squared Capital, states that Bitcoin should be viewed as an investment vehicle against the depreciation of fiat currencies. Tax obligations are also a significant issue. Since the IRS considers digital assets as property, capital gains or losses must be reported for each transaction.

Expert Opinions

Experts indicate that the acceptance of Bitcoin as a payment method could contribute to an increase in its value over time. There are opinions suggesting that Bitcoin's future volatility may decrease. Investors believe that increasing adoption has the potential to stabilize the value of cryptocurrencies.

All these developments are enhancing the role of cryptocurrencies in financial services. However, it is crucial for investors to remain cautious and consider the existing risks.