Pizza Hut Accepts Crypto in Venezuela! (History Says This Is a Bad Idea)
A
quick warning… this news might make your mouth water. Hungry crypto
enthusiasts in Venezuela can now pay for Pizza Hut using a range of
cryptocurrencies — including Bitcoin, Ethereum, Litecoin, Tether and
Binance Coin. The news was announced by Richard ElKhouri, the fast food chain’s
director in the country. In an interview with a local news outlet, he
said Pizza Hut cannot ignore the “technological advances” in how people
make payments — adding that the company was determined to keep up with “young
people, contemporary adults or people with knowledge of technology.” Pizza Hut
Venezuela has teamed up with Cryptobuyer to make these transactions possible…
but sadly, there’s no sign of its American arm following suit just yet. Fast
food outlets have become some of the most enthusiastic adopters of crypto
payments, with some of the world’s biggest brands beginning to dabble in
Bitcoin. Just Eat France now allows its customers to pay for food
deliveries from 15,000 restaurants using crypto — and Burger King has
experimented with supporting BTC in the past, too. Those with a long memory will
know that pizza and Bitcoin have a rather painful history. In
2010, Laszlo Hanyecz splashed out 10,000 BTC on two pies from Papa John’s…
crypto that would be worth $186 million today. Even though this is
arguably the most expensive meal in history, Hanyecz says he has no regrets
about his extravagant purchase. But if Bitcoin’s price manages to hit six
figures as some expect, we could see history repeat itself. Why this news
matters This news of crypto adoption in Venezuela has a serious side. The South
American country has been suffering from rampant hyperinflation as a result an
economic crisis in recent years — with blockchain intelligence firm Chainalysis
revealing that the country has “one of the highest rates of cryptocurrency usage
in the world.” Crazy things you can buy with Bitcoin From pizzas to precious
metals, there’s a lot of things that can be bought using the world’s biggest
cryptocurrency. Find out which big brands accept Bitcoin on CoinMarketCap
Alexandria. Still hungry for more news? Subscribe here for a daily round-up of
the biggest headlines in crypto, direct to your inbox.
A
quick warning… this news might make your mouth water. Hungry crypto
enthusiasts in Venezuela can now pay for Pizza Hut using a range of
cryptocurrencies — including Bitcoin, Ethereum, Litecoin, Tether and
Binance Coin. The news was announced by Richard ElKhouri, the fast food chain’s
director in the country. In an interview with a local news outlet, he
said Pizza Hut cannot ignore the “technological advances” in how people
make payments — adding that the company was determined to keep up with “young
people, contemporary adults or people with knowledge of technology.” Pizza Hut
Venezuela has teamed up with Cryptobuyer to make these transactions possible…
but sadly, there’s no sign of its American arm following suit just yet. Fast
food outlets have become some of the most enthusiastic adopters of crypto
payments, with some of the world’s biggest brands beginning to dabble in
Bitcoin. Just Eat France now allows its customers to pay for food
deliveries from 15,000 restaurants using crypto — and Burger King has
experimented with supporting BTC in the past, too. Those with a long memory will
know that pizza and Bitcoin have a rather painful history. In
2010, Laszlo Hanyecz splashed out 10,000 BTC on two pies from Papa John’s…
crypto that would be worth $186 million today. Even though this is
arguably the most expensive meal in history, Hanyecz says he has no regrets
about his extravagant purchase. But if Bitcoin’s price manages to hit six
figures as some expect, we could see history repeat itself. Why this news
matters This news of crypto adoption in Venezuela has a serious side. The South
American country has been suffering from rampant hyperinflation as a result an
economic crisis in recent years — with blockchain intelligence firm Chainalysis
revealing that the country has “one of the highest rates of cryptocurrency usage
in the world.” Crazy things you can buy with Bitcoin From pizzas to precious
metals, there’s a lot of things that can be bought using the world’s biggest
cryptocurrency. Find out which big brands accept Bitcoin on CoinMarketCap
Alexandria. Still hungry for more news? Subscribe here for a daily round-up of
the biggest headlines in crypto, direct to your inbox.