Strong Rumours Walmart Is To Stack Bitcoin On Its Balance Sheet
There are strong rumours that American retail giant Walmart is stacking sats and is ready to declare it has Bitcoin on its balance sheet.
It is believed that its next quarterly report on May 18 the retail giant will reveal its exposure to Bitcoin, following other corporations MicroStrategy, MassMutual and Square Inc making Bitcoin a part of its balance sheet.
So, is Walmart ready to change its operations and start accepting Bitcoin? We might find out in May.
How Walmart Accepting Bitcoin Would Change Everything
It looks like Walmart will be putting Bitcoin on its balance sheet, and as bullish as that is, if it goes a step further and utilizes Bitcoin, it could change everything.
It’s without question that Walmart accepting Bitcoin would be huge. Not just for Bitcoin acceptance, but for the world’s biggest bricks and mortar retail store.
Accepting Bitcoin as payment across all of its stores would drive Bitcoin adoption and of course the value of Bitcoin would receive a positive impact.
Walmart might be a bricks and mortar company, but it still has a huge e-commerce presence, which helped it become the world’s largest company by revenue raking in $559 billion in 2020.
This alone is nothing to be sniffed at, but Walmart has a loyal following of blue collar workers. The working classes in America love Walmart and when it announces it is getting into Bitcoin, ‘it will create the ultimate exposure for Bitcoin to blue collar Americans and trigger a global monetary paradigm shift that is long overdue,’ says Clancy Rodgers.
Walmart isn’t just America’s darling, either. The retail giant is established in 24 countries around the world and sources products from over 100 countries all around the world.
Further down the line, and Walmart’s balance sheet is booming and the benefits of working with Bitcoin surpass its expectations, surely it will use its influence with global suppliers to start accepting Bitcoin.
After all, currency conversions are expensive for both sides of the trade and if the retail giant’s partners see Walmart believing in Bitcoin, surely they will be intrigued, too?
Walmart To Pay Its Staff In Bitcoin?
In recent months we have seen NFL star Russell Okung be paid half his salary in Bitcoin. And more recently, news leaked of NBA franchise Sacramento Kings to offer all of their staff to earn their salary in Bitcoin.
And then last week Southampton FC signed a deal that will see the Premier League club earn their bonuses in Bitcoin. There’s a trend that will only gain pace, and if Walmart is already putting Bitcoin on its balance sheet, why won’t it offer its staff the option of earning their salary in Bitcoin?
This idea would have seemed a decade away this time last year, but with the speed at which Bitcoin adoption and acceptance is moving, it is surely just a matter of time.
The technology is there. Jack Mallers’ Strike payments application facilitates Russell Okung’s Bitcoin transactions which sees the Carolina Panthers star salary paid into his Strike account, and half of which is immediately converted into Bitcoin.
Sure, some Walmart staff won’t be interested, but many will and even if they only opt for 5% of their salary to be converted into Bitcoin, the ripple effect will be huge.