As a bitcoin adoption spikes, Spotify could start accepting BTC payments in the near future

Quick take

1 minute read

• Bitcoin has been growing massively over the course of 2020. 

• Even during the coronavirus pandemic, the leading crypto token has experienced massive interest from institutions and retail investors alike. 

Bitcoin has been growing massively over the course of 2020. Even during the coronavirus pandemic, the leading crypto token has experienced massive interest from institutions and retail investors alike. More people are adopting the asset including the music streaming service, Spotify.

Last week, Spotify was probably all over your timeline given that it was the #SpotifyWrapped2020 day that pushed it on trending for all to see. Now, Spotify is getting ready to enter the crypto industry as it is potentially going to be accepting bitcoin payments from its subscribers.

With this plan, Spotify would introduce it’s consumer base of over 300,000,000 to the world of crypto. This is a massive milestone for the industry. So many people have already heard of bitcoin but for it to be actively thrown into one of the most popular applications of the last decade is something unheard off.

According to Spotify, the new team member will be tasked with looking for new payment opportunities and provide innovative solutions in that sense. Basically, it’s safe to say that the most recent innovation in the payment industry is all about cryptos and blockchain technology.

Reports have it at the minute that the innovation team at Spotify is looking for an associate director to lead the development of a new framework to help integrate crypto currency payments into its network.

To that end, the person who takes up this role will be helping develop opportunities and innovations in the use of block chains and so many other stable coin and digital assets.

With all of this to take in, Spotify could be the home for crypto in the next two years. We’re not saying that Spotify is going to become a crypto platform dedicated to the buying and selling of digital assets but it could be a stepping stone for many of its user base to be exposed to the world they would not otherwise see.

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