Howard Schultz, the Former Starbuck CEO, stands for US presidency post. Slashes Bitcoin, Backs Blockchain

Former CEO of Starbucks, Billionaire Howard Schultz is seeing contesting for the US presidential post as he is not happy with the harsh political deadlock he sees in the present and wants to do something for the nation. He announced his intention via Twitter.

He possesses a net worth of around $3.3 billion. He has served as the CEO of Starbucks in two intervals – first between 1986 to 2000 and then from 2008 to 2017. With this announcement, he now joins an emerging list of liberal candidates who have announced their candidateship in public.

Schultz declared on Twitter that he would like to contest as a “centrist independent” as he is upset with the fixed and ineffective dual-party concept within the United States. In a series of tweets, he posted “I love our country, and I am seriously considering running for president as a centrist independent. This moment is like no other. Our two parties are more divided than ever. Let’s discuss how we can come together to create opportunities for more people. ”

Schultz cursed both Democrats and Republicans stating that both are just involved in devastating unfair conflicts and minor issues that don’t serve the residents of America in any way. He further added that “We’re living at a most-fragile time. Not only the fact that this president is not qualified, but the fact is that both parties are consistently not doing what’s necessary on behalf of the American people. [Politicians] are engaged, every single day, in revenge politics.”

The matter of concern remains here is how would the US presidency under Howard Schultz affect bitcoin and the blockchain industry? Earlier in Jan 2018, Schultz had stated that there is no future for Bitcoin and is not “legitimate.” Schultz hah then said, “I don’t believe that bitcoin is going to be a currency today or in the future,”

Bitcoin today has no tangible existence nor is it associated with any real establishment. He believes that there are high chances that some other more trusted cryptocurrency, except bitcoin, maybe the future currency provided it is connected to a “legitimate brick-and-mortar establishment where the consumer has trust and confidence in the company that is providing the transaction,”

He is not against all the crypto assets and thinks that these would play a very important role in establishing a cashless future. However, Schultz is a follower of blockchain technology. Further, he in fact even gave a clue that Starbucks, which has more than 28,000 stores globally, is contemplating to integrate blockchain technology into its mobile app.

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

A couple of weeks back, the Democrat Congresswoman – Tulsi Gabbard of Hawaii had also announced her candidature for the US presidency post. The crypto community immediately post the announcement buzzed with the news as she has an investment in the crypto market.

Gabbard had purchased $1,001 to $15,000 of Ether and Litecoin, as per her federal filings. However, it is still not clear on the volume of crypto that Gabbard currently holds.

Gabbard announced on 12th January stating “I have decided to run and will be making a formal announcement within the next week. There are a lot of challenges that are facing the American people…that I want to help solve. There is one main issue that is central to the rest, and that is the issue of war and peace.”