5 surprising companies now accepting cryptocurrency as payment

Microsoft (MSFT) co-founder Bill Gates has been a vocal critic of Bitcoin and other cryptocurrencies. He argues that Bitcoin is unproductive as an asset class and that he would bet against it if given the chance.

Although Gates is skeptical of cryptocurrencies, Microsoft acknowledges blockchain’s transformative potential. For example, through Bitpay, Microsoft enables users to purchase games and apps for Windows Phone, Xbox, and Windows operating systems.

Coffee giant Starbucks (SBUX) began accepting Bitcoin and Ether in 2021, enabling crypto payments through the mobile app SPEDN – a digital payments platform that allows users to store, convert, and spend their cryptocurrency. Customers can load the app with cryptocurrency and pay using a QR code at checkout.

Starbucks also partnered with the Bakkt App, a digital wallet that allows users to manage their crypto holdings. With Bakkt, customers can use Bitcoin, load their Starbucks gift cards, and seamlessly buy their favorite coffee.

The largest hardware store chain in the U.S. began accepting Bitcoin as payment in 2019 through Flexa, a platform that instantly converts Bitcoin to dollars. Due to this feature, home builders can purchase nearly all the materials and tools needed to construct a house using cryptocurrency.

In 2019, AT&T (T) became the first major U.S. mobile carrier to accept cryptocurrency payments. Through the cryptocurrency payment service BitPay, customers can conveniently pay their AT&T bills online using Bitcoin and other cryptos. AT&T is also a partner with Bitrefill, allowing customers to top up their AT&T Prepaid Plan using Bitcoin, Ether, and other cryptocurrencies.

Whole Foods (AMZN) accepts cryptocurrency indirectly through the SPEDN app. Customers can load their account with crypto, select Whole Foods at checkout, and generate a code. The cashier scans the code, instantly converting Bitcoin into dollars for payment.