Ex Starbucks CEO Talks Blockchain and Presidency, Says Bitcoin has No Legitimate Future


Howard Schultz, the former CEO of Starbucks, has lashed out against the current US government and has said on Twitter that he is considering running for president. The Former CEO is famously critical of Bitcoin but has shown some favor towards blockchain.

Fighting the Power

Frustrated with the current two-party situation which he seems ineffective, he says he’ll run as an independent.

“I love our country, and I am seriously considering running for president as a centrist independent,” he tweeted.

He says that both the Democrats and the Republicans constant fighting is hurting the America people.

“We’re living at a most-fragile time,” Schultz told 60 Minutes, starring that both sides are engaging in revenge politics, “Not only the fact that this president is not qualified but the fact that both parties are consistently not doing what’s necessary on behalf of the American people.”

All these have fueled an interest in politics for Schultz.

What Does this Mean for Bitcoin?

While a Schultz presidency might be free of revenge politics, what does this mean for bitcoin as an industry?

In the past, Schultz has spoken out about bitcoin, branding it illegitimate.

“I don’t believe that bitcoin is going to be a currency today or in the future,” Schultz said.

As a solution, Schultz has stated that another non-bitcoin crypto could be the currency of the future but that it would need to be well structured and legitimate in the sense that it must have ties to a traditional institution in order to gain the trust of the public.

Like many people, Schultz might not like bitcoin but he has little problem with blockchain, the technology upon which bitcoin is based. It has been embraced by nations such as China even though cryptocurrency is banned there.

Schultz has hinted that Starbucks could very well integrate Blockchain technology into its mobile app.

“I think blockchain technology is probably the rails in which an integrated app at Starbucks will be sitting on top of,” he said.

The reluctance on his part stems from a lack of faith in cryptocurrency which is something the industry has been battling for years. With time, crypto is starting to shed its image of being an internet fad and is being taken more seriously.

An example of this is the fact that Bitcoin has become accepted as a means of tax payment in Ohio and it is believed that more states will follow soon.

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