Former Starbucks CEO believes cryptocurrencies will be widely used in future

Former Starbucks CEO Howard Schultz has revealed his optimistic stance on cryptocurrencies, claiming that the digital asset class will be widely used in the future.

The 65-year-old, who on Sunday announced that he may run for US presidency in 2020, admitted that cryptocurrencies would be incorporated into the company’s long-term digital payments strategy in 2018.

“I’m talking about … the possibility of what could happen — not in the near term, but in a few years from now — with a consumer application in which there’s trust and legitimacy with regard to a digital currency,” he said.

Schultz added: “I’m not bringing this up because Starbucks is announcing that we are forming a digital currency or we’re investing in this … I’m bringing this up … as we think about the future of our company and the future of consumer behavior.”

The Brooklyn-born businessman confirmed that he would be “travelling the country” over the coming weeks and months. His aim is to embrace “a better choice” in terms of the next presidential election, in which he may run.

“In the next few weeks and months, I’ll be traveling the country. I’ll be listening, and learning, and meeting many of you,” he said.

“I look forward to seeing you and I strongly believe that this is an opportunity in America at a very fragile time, to embrace a better choice, not the status quo which will lead to decline, but a better choice that I think will lead to a season of renewal, leadership that you can trust and once again government that can be working for all the people.”

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