Weedmaps CEO Slams Bitcoin as Cannabis Industry Banking Solution

Justin Hartfield - CEO of WeedMaps
Justin Hartfield – CEO of WeedMaps

Weedmaps, the online legal marijuana community, allows users to review and discuss cannabis strains and local dispensaries. The website garners two million monthly visitors with annual revenue of approximately $18 million. Widely considered the industry leading website, Weedmaps founder CEO Justin Hartfield has a unique point of view on the industry. Hartfield recently told CCN that he does not believe Bitcoin will help the cannabis industry.

“Here’s the thing – say you sell a bunch of weed, and your customers pay you in Bitcoin,” Hartfield told CCN.  “How the heck are you gonna cash out millions of digital coins into tens of millions of United States Dollars?  We need this multi-billion dollar industry out of the shadows and into the light and banking is the first crucial step to that maturation,” he adds.

Read Justin OConnell’s “Weedmaps.com Founder Doesn’t Think Bitcoin Is What Marijuana Industry Needs”:  https://www.cryptocoinsnews.com/weedmaps-bitcoin-marijuana

Published by NCV Newswire
NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

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