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.
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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.
Walmart is stacking #bitcoin. You heard it here first.
— Vik Sharma 🇺🇸 (@vikrantnyc) April 4, 2021
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.
