Apple is rumoured to be considering accepting cryptocurrencies as a form of payment. How would that Apple accepting cryptocurrency influence the market value?
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.
- > NEXT STORY: New Switch Pro dock may have an ethernet port
- < PREVIOUS STORY: Leaked Battlefield 6 footage isn't the actual reveal trailer