Walmart Buys Bitcoin? 9 Things We Know About the Rumors

Strong rumors have emerged that Walmart (NYSE:WMT) could reveal the amount of exposure it has to Bitcoin (CCC:BTC-USD) in its next quarterly earnings report. And that would make for major headlines if word emerges that Walmart buys Bitcoin.

Source: Jonathan Weiss / Shutterstock.com

So, what all do you need to know about this news? Let’s take a closer look at a few top facts.

  • According to the company’s investor relations page, its first quarter of fiscal year 2021 results are slated for next month.
  • Walmart says it will report before market open on May 18.
  • Earlier this year, Tesla (NASDAQ:TSLA) purchased $1.5 billion in Bitcoin and now accepts it as a form of payment.
  • The electric vehicle (EV) firm cited the reasoning for this move as for “more flexibility to further diversify and maximize returns on our cash.”
  • That said, Walmart purchasing Bitcoin may possibly help diversify a different area of the cryptocurrency realm: its users.
  • As Clancy Rodgers put it for Bitcoin Magazine, “[Walmart owning bitcoin] will create the ultimate exposure for Bitcoin to blue collar Americans and trigger a global monetary paradigm shift that is long overdue.”
  • According to its website, Walmart current has more than 10,000 stores and clubs in 24 countries and sources its products from more than 100 countries.
  • The company also has an extremely robust e-commerce presence.
  • Thus, if Walmart buys Bitcoin, it could also improve these areas as well.

On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

Nick Clarkson is a web editor at InvestorPlace.


View more information: https://investorplace.com/2021/04/walmart-buys-bitcoin-9-things-we-know-about-the-rumors/

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