Why Apple accepting cryptocurrency may be the biggest endorsement yet

A new job listing from Apple suggests that the company may soon throw some support behind accepting cryptocurrencies such as BTC.

1 minute & 35 seconds read time

Apple is rumoured to be considering accepting cryptocurrencies as a form of payment. How would that Apple accepting cryptocurrency influence the market value?

Why Apple accepting cryptocurrency may be the biggest endorsement yet 01

The rumor originates from Apple posting a job listing for "Business Development Manager - Alternative Payments", which is a job position that Apple says candidates need to be adept in handling cryptocurrency. Additionally, Apple says the candidate that is successful would be joining the Apple Pay and the iPhone Wallet app development team.

Qualifications for the role included; "5+ years experience working in or with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrency and etc." And, "We are looking for a candidate who is comfortable with ambiguity, enjoys thinking about edge cases and asking 'what is an alternative way of doing this'."

Now, how would Apple accepting cryptocurrency as payment influence the market value? Telsa previously announced it would be accepting Bitcoin as payment before retracting its statement over environmental concerns caused by the energy cost of mining the currency. When Tesla announced it would be accepting BTC as payment, the price of the coin skyrocketed as the market was essentially being endorsed by Tesla.

If Apple decided to adopt cryptocurrency it would have a similar affect, but that affect would be much more large scale as every iOS user would now be presented with an option to pay with cryptocurrency. If Apple did this it would reinforce the trust of cryptocurrency payments in general as consumers would believe in the coin now that Apple has approved of its payments, thus increasing the value furthermore.

Millions of iOS users who would also be exposed to cryptocurrency for the first time if an Apple 'Crypto Wallet' was integrated into every device. These first-time adopters would cause a new wave of money to flow into the market, increasing the value of coins. For more information on this story, check out this link here.

NEWS SOURCE:forbes.com

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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