16th April 2023 - Amazon.

tl;dr

Amazon makes its first crypto play – what else is in store further down the line?

Market Snap

Market Wrap

Yesterday I suggested that the recent rise in shrimp holdings may not prove resilient to any downturn. I have since found out that between April 4th and April 11th there were more google searches for BTC than at any time in the past. That suggests new adopters are queuing up – every dollar rise makes them keener to get involved. Personally I don’t understand the psychology that leads to buying only when prices are higher than before, but I guess that’s my contrarian nature on display once more.

When we add in the weak hands who folded sub 20k - who are now suffering severe regret and itching to press that buy button again - retail buying could give this rally a strong boost.

Curious Cryptos’ Commentary – Amazon

Crypto enthusiasts have longed for the day when Amazon gets involved in cryptos by accepting them as a payment option.

We are not there yet, but sources close to the company have been briefing about its very first crypto initiative – the launch of an NFT (non-fungible token) marketplace in April.

Initially there will be 15 collections available to purchase using standard fiat payments from credit and debit cards, though at first only open to US customers. One should expect a global rollout soon after.

There are rumours of an Amazon blockchain, and an Amazon coin (bring on that payments function!) but with no official press release, the veracity of these rumours cannot be assessed.

Once again, crypto adoption is happening right here, right now.