Amazon rival Rakuten accepting Bitcoin! Will this Japanese based online retailer trigger the next Bitcoin bull run?
Rakuten has begun accepting registrations for its new Bitcoin and Cryptocurrency exchange, Rakuten Wallet. Investors are hoping this will spur other tech companies like Amazon to follow suit. Rakuten is a large company with operations across e-commerce, online banking, media and communications, and has shown interest in Bitcoin and cryptocurrencies for quite some time. Rakuten is on record saying last year that “the role of cryptocurrency-based payments in e-commerce, offline retail and in peer-to-peer payments will grow in the future.”
Bitcoin adoption however is struggling – the world’s traditional bank and payment providers are, however, rushing to digitize their systems. Along with tech companies like Rakuten and eventual adoption by other companies, the next wave of Bitcoin and Crypto adoption could come from these sources, simply because they’re just more efficient.
Rakuten users need to have either a Rakuten Bank account or a Rakuten member ID to sign up to use their cryptocurrency service. However, there is no indication as to when the wider public will be able to register. Rakuten’s crypto exchange is slated to open in June after they received their license for its Bitcoin and Cryptocurrency exchange last month.
CZ of Binance has cheered this announcement, repeating his belief that everyone will be in crypto.
No word from Amazon as they continue to resist calls for the organization to accept Bitcoin and other cryptocurrencies.
This is all in the midst of a seemingly rapid recovery of cryptocurrency as a whole as some tokens have risen over 38%. Some winners include XRP, Ethereum, Litecoin, EOS, Bitcoin Cash, and Bitcoin itself.
While Bitcoin has been in the news for its recovery, right now, the rally has been dubbed the “altcoin season” due to the double-digit gains of smaller cryptocurrencies. We’ve personally seen BAT and POLY be some of our biggest winners. Have you considered joining our pro group? Click here for more information!
As Rakuten is looking to adopt cryptocurrencies, more Japanese companies are following suit. Yahoo! Japan, separate from Yahoo! Which was bought by Verizon in 2017, owns some 40% of bitcoin and crypto exchange TaoTao, which is slated to open next month.
What do you think? Do you see this as bullish that Rakuten is accepting Bitcoin? When do you think Amazon will accept cryptocurrency? Let us know what you think on our Facebook page!