Bitcoin [BTC] receives a fresh boost to $48k after Walmart announcement

Bitcoin [BTC] revisited $48k on the 16th of August yet again as the entire cryptocurrency market swelled to a whopping $2.05 trillion. The fresh boost comes after one of the world’s largest retailers, Walmart, posted a job listing for a product lead for its digital currency and cryptocurrency division. This was enough to send Bitcoin a fresh bullish rally after a minor rejection the previous day.

The crypto-asset retreated shortly thereafter to $47k. However, over the past week, Bitcoin was still up by 9%.

According to Walmart’s career page, the retailer is seeking to hire someone who’s passionate about cryptocurrencies to develop its digital currency strategy. The job posting read,

“As Digital Currency/ Cryptocurrency lead at Walmart you will be responsible for developing the Digital Currency strategy and product roadmap. As an expert in Digital Currencies/ Cryptocurrency and Blockchain related technologies, you will drive the vision for the product and capabilities roadmap.”

To top that, part of the role’s scope also includes driving the retail giant’s digital currency strategy and recognizing cryptocurrency-related partnerships and investments.

Bitcoin and cryptocurrency demand rises; but no signs of Walmart coin yet

The latest news was indeed crucial since this is not the first time Walmart had dabbled in Bitcoin and the cryptocurrency market. It is still early days to speculate about the roadmap for this new initiative, however, it does indicate that Bitcoin and the cryptocurrency industry have not only seeped it into mainstream conversations but are also being rapidly embraced.

The American multinational corporation had previously disclosed that it had filed a patent to launch a US-based stablecoin that would serve low-income households without proper access to banking services. However, no have emerged regarding the same ever since it was first revealed back in 2019.

Besides, Walmart revealed the position just days after its rival Amazon announced looking for a Digital Currency and Blockchain Product Lead. This clearly shows that major companies want to avoid being left out and that the technology is showing itself to be important.