Someone is buying the rumor because bitcoin is pumping hard, hopefully putting some much needed pep in the step of holders everywhere.
Boom and just like that we're almost back to $40k, been a while huh?
Last time BTC was at $40k was about 6 weeks ago, so we're very much still in the scary zone where we don't know if this is the beginning of the end or whales are going for another leg up to take the markets to the moon.
BTC up nearly 29% in past 5 days
These kinds of pumps are fun, there's money to be made which is awesome but I don't think they're sustainable. Rapid climbs are typically followed by rapid declines and I wouldn't be surprised to see the air let out of these tires hard later this week.
"BTC Moving Off Exchanges Again!"
Last week I wrote about exchange net flow for BTC and how an average of 2,000 coins were coming off of centralized exchanges per day.
Net flow of coins coming off of exchanges combined with some seriously awesome Amazon rumors look to be fuelling a resurgence!
Amazon To Accept Bitcoin as Payments?
The rumor started when Amazon's Payments Acceptance & Experience team recently posted looking to hire "an experienced product leader to develop Amazon's Digital Currency and Blockchain strategy and product roadmap".
When the worlds 4th largest corporation by market cap (1.6 Trillion) hires for a product manager to build out it's digital currency acceptance roadmap, well that's huge!
This isn't just one more confirmation that crypto is here to stay, this is the worlds largest online retailer getting ready to accept crypto as payments.
But will Amazon accept Bitcoin?
My guess would be that amazon builds it's payment product to accept multiple cryptocurrencies, not just BTC.
Bitcoin is slow and expensive to transact, without a second layer solution in place it won't be used for payments on a large scale.
Would amazon by interested is further developing Bitcoins Lightning network or would they just go ahead and build there own 2nd layer payment processing solution?
Follow the Leader
In the world of online retail all the top corporation pay very close attention to what their competition is doing.
With amazon moving into accepting crypto as payments I would not be surprised to see other retailers like Walmart quickly follow suite.
This is the real beginning of mass adoptions, it's happening!
Ciao for now,
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