What Happens When Walmart Buys $1 Billion Of Bitcoin?
- Though no purchase has been announced, Walmart’s inevitable allocation to bitcoin will jump start a ripple of hyperbitcoinization.
Clancy Rodgers — Mar 29, 2021
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MicroStrategy, Square and Coinbase are multimillion-dollar companies traded on NASDAQ with big bitcoin bags, but the everyday American could care less. Ask your average Joe how he feels about Michael Saylor’s MicroStrategy purchasing of 91,326 bitcoins and you’ll probably get a “What is Bitcorn?” and “Michael who?”
Walmart, on the other hand, is a different story because it’s the epitome of working class America. Built off the back of America’s mom and pop, it is now the world’s largest company by revenue raking in $548 billion in 2020. When Walmart adds $1 billion of bitcoin to its balance sheet, you’ll have that same average Joe’s full attention. It will create the ultimate exposure for Bitcoin to blue collar Americans and trigger a global monetary paradigm shift that is long overdue.
As Walmart’s tentacles reach into 24 countries, a Bitcoin tidal wave will blast through its world of ecommerce and brick-and-mortar retail operations. Walmart sources products from more than 100 countries, bringing globalization to Middle America. Instead of having to deal with complex currency conversions with global suppliers, Walmart will accept bitcoin, which will negate the headache of dealing with dozens of fiat currencies. This will simplify accounting and streamline operations. With no middleman bankers pirating off of transactions, the only thing separating Walmart from its global partners will be oceans (if the miners don’t boil them first).
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I see this as a great SET of “use cases” for WalMart.
Remember: Wal-Mart Stores abruptly abandoned those plans for its own bank, withdrawing its application to obtain a special banking charter after a firestorm of criticism from lawmakers, banking industry officials and watchdog groups.Mar 17, 2007.
I’m sure that the Banking Industrial Complex used all their political power to block this 800# elephant from entering the competitive area. Probably more than the BIC (Banking Industrial Complex), everyone else with a vest interest piled on. What would Wall Street, Credit Unions, Western Union (and all the other funds transfer agencies), Amazon, Target, and the grifter politicians and bureaucrats do if WalMart literally swept up all the unbanked and all the little people’s bank accounts. Profit margins if any would be cut to zero as WalMart ties in its bank with its stores.
So now imagine that WalMart adopts bitcoin and see its use cases: (1) funds transfer from its international subsidiaries become cost free; (2) pay suppliers with bitcoin (free and fast); (3) Buy and sell bitcoins for U$D (dollars) globally; (4) avoid all sorts of onerous financial regulations, taxes, and fees.
It would be a real hoot to see all the politicians and bureaucrats around the globe running around with their hair on fire.
And, in addition to a big win for WalMart, the little people all over the world could avoid the hidden taxation of earnings and savings that fiat currencies enable.
I’d love it.