Tell Starbucks to Accept Bitcoin
Howard Schultz, CEO
Starbucks Coffee Company
2401 Utah Avenue South
Seattle, WA 98134-1436
Dear Mr. Schultz,
On January 24, 2014, you were quoted on CNBC as saying there is a "significant sea change" underway in retail. You went on to add that "I would not want to be a traditional brick-and-mortar retailer that did not have mobile payments, that did not have social and digital media." Fortunately, even with the "online migration" you described, many of us appreciate having a Starbucks on the corner where we can get our coffee!
Starbucks is one of the world's most forward-thinking companies and it must continue to innovate into the future. As you probably know, the digital currency known as Bitcoin has reached a $10 billion market cap and has a growing pool of dedicated users. Recently, when Overstock and TigerDirect began accepting Bitcoin, their sales surged by several hundred thousand dollars each in the first few days. Nearly 40,000 businesses now accept Bitcoin payments through processors like Bitpay and Coinbase. These processors charge pennies for this service and can make same-day exchanges from Bitcoin to U.S. dollars, eliminating the risk of any potential volatility for merchants. They also eliminate credit card fees, greatly improving their profitability.
I would like to pay for my coffee in Bitcoins. I urge Starbucks to enable this by accepting Bitcoins for all transactions at its stores and online. If Starbucks begins accepting Bitcoins, then I pledge to support Starbucks with my coffee-drinking business for the foreseeable future! Thank you for considering this request.
P.S. Many people signing this petition will add dollar amounts for their estimated Bitcoin purchases at Starbucks for 2014. I trust that your Accounting Department can combine these. While this total represent a small sample, it may help you project the potential revenue gain once Starbucks begins accepting Bitcoin payments.
- January 25
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