There are many critics of Bitcoin who have said that it is not a real currency because you can’t buy anything with it. There are a number of online retailers that have started to accept Bitcoin. However, the vast majority still do not. Burger King in Germany announced that it would accept Bitcoin as payment. This was very big news because none of the other major fast food chains had warmed up to the idea of accepting Bitcoin or any other type of cryptocurrency. The experiment proved to be a big success for Burger King.
The bad news is that Burger King has announced that it will no longer be taking Bitcoin in any of its German locations. The company released a statement saying that it was just a promotional offer. Apparently, it was never meant to be permanent. However, this shows that Bitcoin is a very viable form of payment for major chains to use. There is no question that many companies around the world took notice of what Burger King was doing. It would not be surprising to see other large companies begin to accept Bitcoin at some point in the near future.
One of the main reasons that companies did not want to get involved with Bitcoin for so long is that not many people knew what it was. They wanted to wait and see if Bitcoin would take off and become mainstream. The popularity of Bitcoin has steadily risen over the past few years. It certainly has its fair share of critics, not the least of which being President Donald Trump. That having been said, there is no question that enough people use Bitcoin to make it a viable form of payment for companies to accept on a large scale. It remains to be seen if any other fast food chains will be willing to follow Burger King’s lead.
The future of Bitcoin is very bright. The turning point will be when a large international company decides to make Bitcoin a permanent payment method. That day has not yet arrived. However, it might be coming soon. Facebook developing their own version of cryptocurrency might be just the thing to convince very large companies that Bitcoin might be worth taking a chance on. However, Facebook has not received the approval they need to launch their cryptocurrency called Libra. The next few months will be very big as far as Bitcoin is concerned.