Apple (Apple shares NASDAQ: AAPL) is trying to integrate Bitcoin as a form of payment? This is the question people ask themselves after a job posting from the US tech giant.
Bitcoin's twittersphere is booming after Apple posted a job ad for a business development manager in "alternative payments". A specific mention of the cryptocurrency has led to the spread of speculation like wildfire.
Ironically, it all sounds pretty cryptic, so let's take a look at the details.
Partnership, not development
The announcement, which was posted on Apple's website yesterday, says the role is for a person to help guide the charge in partnering with alternative payment partners. This addresses an area of speculation: Apple has no plans to create its own cryptocurrency yet.
Instead, Apple's dedicated wallet, payments and commerce team is looking to partner with alternative payment service providers. What kind of payment service providers? Well, the announcement requires more than 5 years of experience working in or with tools like digital wallets, BNPL, fast payments, and cryptocurrency.
It is probably no coincidence that there are rumors that Apple is partnering with Coinbase Global to offer integration with Apple Pay. An Apple Insider article on April 28 reported that the code found in the Coinbase app indicated that Apple Pay support for its debit card may be available soon.
The job posting could be about a similar partnership in the future. However, unfortunately for cryptocurrency enthusiasts, it doesn't necessarily explain Apple's adoption of Bitcoin.
Other Bitcoin Developments Outside of Apple
While the news about Apple and Bitcoin is mere speculation, Paypal's latest update related to cryptocurrency is real.
Paypal will allow users in the near future to withdraw their Bitcoins to switch to third-party wallets. Although the payment giant has offered to buy cryptocurrencies since October 2020, withdrawals have not been supported.
Paypal Vice President Jose Fernandez da Ponte said he wants to embrace this technology.
At the time of writing, the price of Bitcoin is hovering around $ 48. Despite a resurgence in the past week, Bitcoin is still over 40% below its all-time high of $ 63.819,60 reached on April 14, 2021.
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