The global cryptocurrency market  size is estimated to grow by  $39.75 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  16.7 percent  during the forecast period. Rising investment in digital assets is driving market growth, with a trend towards acceptance of cryptocurrency by retailers.

“The adoption of cryptocurrencies like Bitcoin and Ether has gained traction among the public, businesses, and merchants for everyday transactions,” Technacvio said.

“In 2022, the usage of cryptocurrencies by major retailers, such as Starbucks, enhanced public acceptance and trust. Previously, cryptocurrencies were utilized for purchasing cars and ordering food and groceries,” it added.

However, volatility in value of cryptocurrency  poses a challenge.

Key market players include AlphaPoint Corp., Binance Holdings Ltd., Bit2Me, Bitfury Group Ltd., Cardano, CEX.IO Corp., Coinbase Global Inc., DOGECOIN, FMR LLC, Gemini Trust Co. LLC, KuCoin, Ledger SAS, Marathon Digital Holdings, Pantera Capital, PT Pintu Kemana Saja, Riot Platforms Inc., Ripple Labs Inc., Shiba Inu, Valora Inc., WazirX, and Xapo Bank Ltd..

Companies like Starbucks currently accept cryptocurrency payments through third-party exchanges, such as iPayYou, which convert cryptocurrencies to cash. Starbucks Corporation (Starbucks) may consider accepting direct cryptocurrency payments in the future.

In April 2022, Starbucks introduced Non-Fungible Tokens (NFTs) and cryptocurrencies as payment methods in their stores. 

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