Rumor mill: According to an insider, the supermarket chain Walmart is planning to enter Bitcoin.
Overall, the cryptocurrency markets are very bullish, market cap over $ 2 trillion.
Walmart’s next quarterly report, due out in the middle of next month, will provide clarity.
MicroStrategy, Tesla – Walmart will soon also be a Bitcoin investor?
Yesterday there was a new, exciting rumor when it comes to institutional investors and Bitcoin. According to Vik Sharma, CEO of Cakewallet, the supermarket giant Walmart , which employs hundreds of thousands of people worldwide and is consistently growing, is now interested in a Bitcoin investment:
Walmart is stacking #bitcoin. You heard it here first.
— Vik Sharma 🇺🇸 (@vikrantnyc) April 4, 2021
“Walmart stacked Bitcoin. You heard it here first, ”so his tweet. The tweet went viral and several crypto giants, including Fluffypony (Monero Community), certified Vik to be a serious figure who would not spread rumors indiscriminately.
A Walmart entry would be the next big sensation after that of Tesla and would put pressure on other companies of this magnitude. Even now, it is riskier for them not to invest in Bitcoin than to do so. Walmart’s cash reserves are enormous and if you compare the time of Tesla’s entry into the market with the Bitcoin chart, you can guess that Walmart could help the Bitcoin price to new heights.
Why do companies invest in Bitcoin?
In addition to (hedge) funds, it is especially large companies that are increasingly investing in the decentralized cryptocurrency Bitcoin as institutional investors. This will protect you from the threat of (hyper) inflation in the coming years. The loose monetary policy of the central banks means that the M1 and M2 money supply increases consistently so that the economy is (supposedly) stabilized. However, history shows that in the long run every FIAT currency is doomed to failure and has an expiration date.
In the near future, it can be expected that more and more companies will take this step and invest at least a small part of their assets in Bitcoin. Because Bitcoin is limited to a maximum of 21 million BTC and is not subject to any government or other central entity.
It is also not very likely that international regulators (especially those from the USA) will actively oppose Bitcoin at this point in time. One can assume that players like Tesla , or Morgan Stanley (ETF application), have done their homework and see no greater risk.
Conclusion: The next quarterly report will show it
In mid-May there will be the new quarterly report from Walmart, in which there will of course be a list of all assets. According to Vik Sham, you should take a closer look at this quarterly report, if he has the choice it will prove Walmart’s Bitcoin investment. It will be exciting to see in the next few months whether other large calibers such as Tesla and Walmart will join the trend.