Retail giant Walmart made an announcement that pushed the Bitcoin price to the $48,000 level and is looking to hire a cryptocurrency expert. With this news, Bitcoin price and the market were moving.

Walmart listed a job posting and Bitcoin price jumped!

Walmart, the largest private employer in the US, has listed a job posting for a cryptocurrency and Blockchain product leader position. This news gave a significant impetus to the price of Bitcoin, which managed to revisit the $48,000 level on the Bitstamp exchange after a sharp rejection on Sunday. According to the job description, Walmart wants to hire someone “passionate” about cryptocurrencies to develop its crypto strategy.

Specifically, the new hire will need to form partnerships related to cryptocurrency and invest in the digital currency space. Walmart has been experimenting with Blockchain, the technology that underpins Bitcoin and other digital currencies for years. Following in the footsteps of AB InBev and other retailers turning to Blockchain to improve their supply chains, the company started using IBM’s food traceability solution to track leafy greens in 2018.

Walmart to issue its own cryptocurrency?

In late July, Walmart rival Amazon also posted a similar job posting, leading to a lot of speculation about the company’s future plans for the industry. Cryptocoin. com, Amazon denied these rumors. In 2019, Walmart filed a patent to launch a US-based stablecoin that would benefit low-income households without proper access to banking services.

This patent filing shows that the Bentonville-based retailer is more likely to expand with its own cryptocurrency than opening its doors to existing cryptocurrencies like Bitcoin or Ethereum. At the time of writing, Bitcoin price is trading at $47,500 after $48,000.

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Michael Lewis


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