Being a Pennsylvania native, I have been caught up in many intrastate rivalries in my lifetime.
Philadelphia versus Pittsburgh. I’m from closer to Philly, so Philly all the way for me.
Same with the Flyers versus the Penguins … and the Eagles versus the Steelers.
Penn State versus Pitt, which I managed to avoid by going elsewhere.
And perhaps the biggest of all … Wawa versus Sheetz.
I’m serious.
While these two convenience store/gas station chains overlap operations in a fairly small portion of the state, the debate over which is better spans from east to west. Opinions are plentiful and intense.
I even know husbands and wives who fall on opposite sides of the argument and are very vocal about their preference.
Well, Sheetz just fired the latest shot in the rivalry with an announcement that has much bigger implications than which one has a better breakfast sandwich…
I’m having a little fun with the whole rivalry thing, but the announcement really is important.
Beginning this summer, Sheetz will allow its customers to pay for purchases with Bitcoin (CCC:BTC-USD) … be it gas at the pump or something inside the store, like an order of their famous mac n’ cheese bites.
And it’s not just Bitcoin.
Other cryptocurrencies — called altcoins — will also be accepted, including Ethereum (CCC:ETH-USD), Litecoin (CCC:LTC-USD) and Dogecoin (CCC:DOGE-USD). Select altcoins have outperformed bitcoin in the past, and I expect them to continue presenting even bigger opportunities.
The setup at Sheetz works through a digital payments network called Flexa, which is still privately held. Flexa instantly converts your cryptocurrencies to dollars so you can pay right there at the store. Sheetz is one of many companies that has explored this option — from Bed Bath & Beyond (NASDAQ:BBBY) to Nordstrom (NYSE:JWN) to Petco (NASDAQ:WOOF) to Whole Foods, which is owned by Amazon (NASDAQ:AMZN).
Actually, paying with Bitcoin is now easier and more widely available than you might realize. It’s all part of the blockchain transformation that is about to change so much in our lives. Especially how we pay for goods and services…
For example, not only can you buy and sell select cryptocurrencies on PayPal (NASDAQ:PYPL), you can also use cryptos to pay for some online purchases. You simply choose that option at checkout.
You can pay using one of an increasing number of crypto debit cards. They work a little bit more like a prepaid card than a debit card associated with your bank account. You must convert whatever coin you are using into dollars, and then load that amount onto the card.
And … since you can get credit cards that reward you for just about anything, you can also get credit cards that earn you cryptocurrencies for your spending. It’s pretty much the same as getting cash back for your purchases, but in this case it is converted into bitcoin or an altcoin.
A lot of people don’t know it yet, but cryptos — and the blockchain technology they are built on are — are going to change everything. The way you buy everyday goods and services … purchase a home … pay your taxes … vote … even how you order a pizza.
This transformation is already underway, but the truly seismic shift — when the massive profits are made — is coming as businesses, consumers and those big-money investors realize what’s going on.
Here is one of my rules of hypergrowth investing:
The MORE a technology changes the world for the better, the MORE revenue it will generate and the BIGGER the gains will be for investors.
That’s why blockchain is going to be so huge. It’s going to touch virtually every industry on Earth.
I’m talking about your financial and banking information … personal healthcare information … proprietary business information … contracts … tax information … credit card payments (and rewards) … real estate transactions … energy… and on and on.
When you control information, you control people. And that’s what’s great about the blockchain — it can’t be controlled by a central power.
That’s why it’s already being called “the new internet” or “Internet 2.0.” It gives the power back to the citizens … to the consumer … to the patient … to the individual. The blockchain can make everything more transparent, efficient and honest.
This is happening right now, and probably only one in 1,000 people understand it. It’s about to unleash a tsunami of new wealth and mint new millionaires and billionaires. The next Bill Gates or the next Jeff Bezos may well be a blockchain entrepreneur.
I believe anyone who acts now could turn a small investment into a lifetime of wealth.
On the date of publication, Matthew McCall did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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