2022-10-12 14:52:15
Google will accept payments in crypto for cloud servicesWe’ve got our biggest adoption news of the season, folks: Google Cloud users will be able to pay their cloud service fees in crypto. This is possible thanks to a partnership between Google and Coinbase. •
Google Cloud is the 3rd-biggest cloud service provider in the world after
Amazon Web Services (AWS) and
Microsoft Azure. In the past,
Coinbase worked with
AWS, but it mostly hosted its apps there.
Amazon never accepted crypto – neither for
AWS products nor on the marketplace – and it doesn’t plan to do so.
• The same goes for
Microsoft Azure: you can pay with crypto in the
Microsoft store, but not for cloud subscriptions. So
Google will be the only one in the top 3 to accept cryptocurrency, though at first only some of the users will have access to this payment option.
Why is this so important? For 3 reasons:1) One of the world’s biggest companies finally embraces crypto → many others will follow the example → Bitcoin adoption in big tech
2) The news can be a trigger for a crypto rally – either in Q4 2022 or in Q1 2023
3)
Google will also ‘explore’
Coinbase Prime, a crypto custody service. If the tech giant gets into BTC custody business, things will get even more bullish.
Let’s wait and see where this goes – but things do look very exciting!
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