It was reported in mid-2021 that Amazon was preparing to make some massive moves in the crypto market, but nothing has come to fruition yet. Bitcoin and altcoin enthusiasts will be waiting with bated breath over Jeff Bezos’s plans, however, as the behemoth eCommerce company could potentially have the power to push crypto right into the mainstream.
Elon Musk has already shown how the world’s richest people and companies can affect the crypto markets. Will an official announcement about Amazon backing crypto cause another major spike?
Amazon may be one of the richest companies in the world with revenues of more than $469.8 billion, but it is still expanding. Indeed, it’s still seen as one of the best investment prospects as it has a market cap of $1.5 trillion. Amazon stocks are currently offering higher gains than crypto, and earnings per share have gone from $14.09 to $27.25 in the last year.
Crypto enthusiasts who spend a lot of time trading the various coins are likely to be interested in getting into investing in Amazon, but don’t know how to buy Amazon stock. This is simple nowadays, as there are apps out there that help people buy and sell in a straightforward manner, as well as trade its stock with zero commission. The talk of Amazon buying into crypto could influence people to invest in both the eCommerce company and Bitcoin.