Bitcoin has spiked like there’s no tomorrow. After several weeks of dealing with bearish activity, the world’s number one digital currency by market cap has surged all the way to the mid-$38,000 range. The jump appears to have something to do with Amazon, the biggest retailer in the world, and its potential decision to begin its own cryptocurrency and accept bitcoin as a payment method before the year is out.
Amazon Suggests It Will Accept BTC
Amazon is arguably the biggest company the world has ever been privy to, which is why if the company agrees to accept BTC and other forms of digital currency as methods of payment, crypto assets could find themselves moving into mainstream territory fast.
The retailer recently issued the following job post. The company is looking for a blockchain expert that can help carve out its future. The post reads as follows:
You will leverage your domain expertise in blockchain, distributed ledger, central bank digital currencies and cryptocurrency to develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities.
A spokesman for the company stated that the company recognizes the importance of blockchain, and that the space is going to grow into something that handles far more than financial transactions. The spokesman said:
We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon. We believe the future will be built on new technologies that enable modern, fast and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.
While it’s easy to get super excited at first and consider the prospects of Amazon accepting BTC in the coming future, we cannot forget that this is not the first time a major company has announced acceptance of crypto as a form of payment, with Tesla being one of the big examples, and that wound up being a major disappointment.
This Has Happened Before
Tesla CEO Elon Musk initially stated that his electric car company would be accepting bitcoin payments for goods and services at some point in 2021. However, it didn’t take long for this attitude to change when Musk suddenly felt that the bitcoin mining process was a little too hazardous for the Earth to handle. He was thus quick to rescind his decision and state that his company couldn’t accept BTC until less energy was utilized and the process became greener.
Users should potentially be unsurprised should Amazon decide against its present course of action at some point within the next five months, though for now, it appears the company is going through with its original blockchain agenda. The move is a big change from where it was in 2017 when Amazon CEO Andy Jassy explained that the company “wasn’t particularly focused on blockchain.”