In recent weeks rumors have circulated that Bitcoin might be about to obtain one of its most high profile customers yet.
The speculation has been that online retailer Amazon might begin accepting payment in Bitcoin. Which if true would be a significant step towards wider scale crypto adoption.
It’s stunning to see a non-dollar denominated payment mechanism potentially being accepted by one of the more popular and commonly used retailers. And given that Overstock.com is already accepting Bitcoin as payment, it’s at least plausible that Amazon would not be far behind.
Which is significant when it comes to pricing the cryptos.
Because in the end, what are they actually worth?
It’s not easy to answer without first thinking about about just how large of a role the technology might play in our future.
If it’s just a passing trend to soon be outdated by something better, then perhaps crypto pricing is a bubble that’s already reached its peak.
If the Blockchain is useful technology, but falls short of what some feel is possible, then perhaps the current pricing represents fair market.
Yet if crypto technology is being adopted into our culture while more and more are backing away from the dollar, the rally could still well be young. If Blockchain technology can really clean up as many industries as some proclaim, it’s actually pretty stunning to think about where prices could go.
Having Amazon onboard would be a significant indication towards the last option.
In either case it’s a truly fascinating investing situation. There are several moving parts, and it’s unclear how it will all unfold. However given what’s already occurred as well as the current geopolitical environment, a 1-5% allocation could well be a good speculation.
That way if Amazon is the first of many new Bitcoin customers to come, you could have a significant winner on your hands.