Amazon’s (AMZN) CEO is optimistic about the crypto market’s future…
Last week, Andy Jassy released his first shareholder letter since taking over as CEO of Amazon.
In the letter, he said he doesn’t currently own any cryptocurrencies or non-fungible tokens (NFTs).
However, he added that he was optimistic about their use and eventual adoption.
Jassy noted that over time, he believes cryptos will become a major aspect of the retail market. He also said NFTs will continue to grow in popularity.
In turn, the CEO alluded to the fact that they may eventually have some form of implementation on the company’s existing platforms.
And this has added to speculation that Amazon will inevitably enter the market.
Prior to today’s development, a report by Cointelegraph said Amazon was hiring a financial services specialist who was well-versed in the digital asset ecosystem.
Meanwhile, Amazon also posted a job advertisement looking for applicants with blockchain and distributed ledger technology experience for the benefit of its AWS cloud service.
So, while the present volatility in assets like Bitcoin may be pushing the company to delay crypto-related efforts, it’s likely that we’ll see the firm add crypto payment services to its business somewhere down the line.
And once this happens, it could help support Bitcoin’s forecasted price move to $100,000…
But in the meantime, investors could also choose to short-sell smaller cryptocurrencies for big gains, including Litecoin (LTC).
Litecoin is currently one of the most-talked-about cryptocurrencies on the market, as supply and demand dynamics have many anticipating a large price gain from the decreased supply.
And while it’s prone to volatility, it makes it the perfect target for short-selling – as any potential profits could ultimately be converted to Bitcoin ahead of broader retail adoption and its anticipated surge over the course of 2022…
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