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Author: Admin | 2025-04-28
Mining / News August 23, 2021 "We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible," shared an Amazon spokesperson. Amazon is in the news nearly every other week with a new investment or innovation, and their most recent development is in the cryptocurrency space. The company thrives on being proactive in technology and innovation, so their interest in Bitcoin is not unexpected. Meanwhile, long-time Bitcoin supporter Jack Dorsey has revealed new avenues for Bitcoin’s adoption through social networks in hopes of making it the “native currency” of the internet. Twitter and Square: Longtime Crypto Proponents While Bitcoin has entered a temporary dip, smart money and industrial giants are staying steadfast with a bet on a cryptocurrency future. Bitcoin has been added to countless balance sheets for companies including Tesla, MicroStrategy, Square Inc., and Coinbase. Beyond this, many traditional institutional investors have moved into cryptocurrency, such as Goldman Sachs, Morgan Stanley, and Andreessen Horowitz. Twitter and Square CEO, Jack Dorsey has once again come out in support of Bitcoin, this time to Twitter investors during its second-quarter earnings call. He explained that Twitter will be a “big part” of Bitcoin’s future. While this overlap has been speculated for some time, there have finally been concrete products revealed to integrate the cryptocurrency into the social network. Dorsey claims building Bitcoin into the company’s new features and systems “is the "best candidate" to become the "native currency" of the internet.” This opens a new door within Bitcoin’s mainstream utility as a social media staple. Twitter intends to use it with several new products: “If the internet has a native currency, a global currency, we are able to able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar and we can reach every single person on the planet because of that instead of going down a market-by-market-by-market approach." These developments will increase adoption and speed up the timeline for Bitcoin to become the first truly global currency. While Jack Dorsey has long since been a proponent of Bitcoin, more recent developments have come from e-commerce conglomerate Amazon. Amazon: A New Disruption? Amazon, the fourth largest company on the planet, has previously expressed interest but has just recently made a large step towards making crypto payments a reality. However, it may not be that simple. The company is looking to hire a digital currency and Bitcoin expert and is “inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon.” However, an Amazon spokesperson recently came out and denied the
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