Bitcoin (BTC) has come to Burger King in Venezuela as a new partnership opens up cryptocurrency payments at the fast-food chain.
Confirmed in a tweet on Dec. 30, a single Burger King branch in the Sambil area of Caracas now accepts Bitcoin, along with altcoins Ether (ETH), Litecoin (LTC), Binance Coin (BNB) and Dash (DASH), as well as stablecoin Tether (USDT).
Venezuela continues to suffer from major economic turmoil, giving rise to efforts to boost cryptocurrency usage. The government has shunned borderless payment methods, imposing heavy restrictions on foreign currency access.
Every once in a while here at Barstool we talk about that month where we were all buying boats and planning our early retirements because Bitcoin wouldn't stop going up. What a fun few weeks that was. We were just high stepping around the office like Deion Sanders returning a pick 6, sure as hell we were the smartest people alive because we bought Bitcoin. And then, as most things usually do, the Bitcoin water found it's level and it went way down, and we all got back to our lives.
Now, I will say this, I still believe in Bitcoin. I think it has a practical use and will go back up. For those out of the loop, it peaked at $19k and it's currently at $8.8. So could be worse, but could be better.
Where it makes sense is in places like Venezuela where their currency is basically worthless. Money is a weird construct that I still have a hard time completely understanding (get high and start thinking about value of money and how a dollar here isn't worth the same amount in another country, and how in countries like Venezuela money is virtually worthless, it'll really break your brain). So the citizens have started using way more crypto-currency because a bitcoin is worth a bitcoin, and is not government regulated but is still a value of money that can be accepted. It actually makes a ton of sense for them to use, and when it is accepted at major chains like Burger King, the citizens of the country can begin to stabilize their wealth again.
My hope is if I just keep hanging on to Bitcoin, maybe in 5 years I'll wake up rich. I probably bought too much at the time, but I still hold out hope it'll go back up and be worth it. Or it'll go down to 0 and I'll be like oh well, at least I tried. But all I know is I'm not selling at $8.8k. Give me $30k or bust.