Pizza Hut Accepts Crypto in Venezuela! (History Says This Is a Bad Idea)

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A quick warning… this news might make your mouth water.

Hungry crypto enthusiasts in Venezuela can now pay for Pizza Hut using a range of cryptocurrencies — including Bitcoin, Ethereum, Litecoin, Tether and Binance Coin.

The news was announced by Richard ElKhouri, the fast food chain’s director in the country.

In an interview with a local news outlet, he said Pizza Hut cannot ignore the “technological advances” in how people make payments — adding that the company was determined to keep up with “young people, contemporary adults or people with knowledge of technology.”

Pizza Hut Venezuela has teamed up with Cryptobuyer to make these transactions possible… but sadly, there’s no sign of its American arm following suit just yet.

Fast food outlets have become some of the most enthusiastic adopters of crypto payments, with some of the world’s biggest brands beginning to dabble in Bitcoin.

Just Eat France now allows its customers to pay for food deliveries from 15,000 restaurants using crypto — and Burger King has experimented with supporting BTC in the past, too.

Those with a long memory will know that pizza and Bitcoin have a rather painful history. In 2010, Laszlo Hanyecz splashed out 10,000 BTC on two pies from Papa John’s… crypto that would be worth $186 million today.

Even though this is arguably the most expensive meal in history, Hanyecz says he has no regrets about his extravagant purchase. But if Bitcoin’s price manages to hit six figures as some expect, we could see history repeat itself.

Why this news matters

This news of crypto adoption in Venezuela has a serious side. The South American country has been suffering from rampant hyperinflation as a result an economic crisis in recent years — with blockchain intelligence firm Chainalysis revealing that the country has “one of the highest rates of cryptocurrency usage in the world.”

Crazy things you can buy with Bitcoin

From pizzas to precious metals, there’s a lot of things that can be bought using the world’s biggest cryptocurrency. Find out which big brands accept Bitcoin on CoinMarketCap Alexandria.

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The post Pizza Hut Accepts Crypto in Venezuela! (History Says This Is a Bad Idea) appeared first on CoinMarketCap Blog.