Now you can buy food in this restaurant through Bitcoin

NDTV Gadgets 360 Hindi

American fast-food giant Quiznos has started accepting bitcoin as payment for its sandwiches and some other items. The company issued a press statement announcing that customers can now make payments through bitcoin at fast food outlets. Quiznos has joined hands with digital asset provider Bakkt in the US for payments. The brand will run a pilot program this month at outlets in downtown Denver to see if people want to use Bitcoin to buy food.

Earlier this year, there was a huge jump in the price of bitcoin, but with the end of the first quarter the cryptocurrency market crashed and almost all the coins fell flat. However, it is not that the market is no longer capable. The price of bitcoin is still very high compared to 2020. According to Coindesk, the price of bitcoin in India at the time of writing this report was $39,304 (approximately Rs 29 lakh).

Given this investor confidence in bitcoin, more companies are now starting to accept payments in cryptocurrencies. In this way companies will be poised to further increase their portfolios, as many still believe that cryptocurrencies will grow further in the times to come.

A Bakkt official says the company will be watching the pilot program closely before deciding to expand the partnership to more locations across the US. If customers buy bitcoin from the Bakkt app and pay for their Quiznos items via cryptocurrency, they will receive $15 (about Rs 1,100) worth of bitcoin as a reward, the statement said.

The Bakkt app was launched in 2019 and is partnering with retail chains and other businesses to make bitcoin transactions easier. Its goal is to liquidate digital assets in the form of fiat currency like the US dollar or Indian rupee. The app is available on both iOS and Android.<!–

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