Odds on Next Platforms to Accept Cryptocurrency as a Payment Method: Apple.com, Tesla, Kroger.com

• Whole Foods and Starbucks recently announced they’ll accept Bitcoin as a payment method.
• Could Tesla, Apple and Kroger be next to join the fray?
• Bitcoin recently surpassed the $8000-mark before pulling back.

The crypto craze has been quiet for a good year, but Bitcoin has been buzzing as the price as nearly doubled in the last few months. With New York Blockchain Week happening right now and lots of companies now accepting Bitcoin as a payment method, the question becomes: who is next?

Tesla Crypto Payments Odds

Rising Price Good For Investors, Bad For Transactions

Everyone gets excited when they see the price of Bitcoin shooting up but the truth is that it’s good and bad. It’s good in the sense that as the price goes up, more investors get in – including institutions – and more people want to be a part of the ecosystem.

Charlie Shrem tells @AndersonCooper about his wild ride on the bitcoin “rocketship,” on 60 Minutes this Sunday at 7 p.m. https://t.co/Ey8ePSeAVk pic.twitter.com/2Nl8rNQS6b

— 60 Minutes (@60Minutes) May 18, 2019

The downside is that it’s never good to have an unstable currency – even if the price is going up. The reason for that is it creates uncertainty. If you paid 0.0005 of a Bitcoin for a cup of Starbucks coffee but then the price shoots up by 10% or down by 10%, someone is going to feel ripped off in the equation.

That uncertainty will turn away customers and businesses from using it on a day-to-day basis.

Apple Crypto Payments Odds

Whole Foods, Starbucks Starts Accepting Bitcoin

As we say that, though, some bigger businesses are getting into Bitcoin. We’ve seen that now the popular grocery brand Whole Foods will accept Bitcoin payments and Starbucks will as well. For the most part, this doesn’t move the need for the average customer as they already have easier ways of paying.

Bitcoin tops $8,000@APompliano makes the case to @kevinolearytv on why he is bullish on Bitcoin pic.twitter.com/irQHUybfC6

— Squawk Box (@SquawkCNBC) May 14, 2019

At the same time, it shows that these companies are bullish on Bitcoin. It’s likely their way of investing in it and they’re probably going to keep a lot of the Bitcoin they get and speculate that the price will go up.

Kroger.com Crypto Payments Odds

Which Company Is Next?

We have a few options on the prop but from the list, it seems pretty clear who is the best bet to get involved next. Tesla’s CEO Elon Musk is tech-savvy but he’s not big into crypto. He’s not against it but he’s not a huge proponent, so it’s unlikely Tesla is next to join the fray.

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— CNBC Futures Now (@CNBCFuturesNow) May 18, 2019

As for Apple, they tend to be very protective of their ecosystem. At this point, there is no huge demand from their customers to allow Bitcoin transactions through their wallet, so why bother? There seems to be more downside risk for them than upside benefit.

Of the three, I’d bet on Kroger. The grocery giant probably won’t service many people who have Bitcoin, but they are in an all-out war to compete with Whole Foods, Wal Mart, Aldi and many more. Anything that can give them an edge will help. With Whole Foods adding it as a payment method, they’re probably evaluating whether they should do the same.