Amazon rival Rakuten has begun accepting registrations for its new cryptocurrency exchange, Rakuten Wallet
The bitcoin price exploded at the beginning of the month,leaving traders and analysts unsure of what exactly caused the sudden upswing and causing many to doubt whether bitcoinethereum, Ripple's XRP, litecoin, EOS, and bitcoin cash would be able to hold on to their recent gains.
, climbing to $186 billion, with bitcoin making up an eye-watering $90 billion of that—though, the broader rally has been labeled"altcoin season" due to some of the double-digit gains many smaller cryptocurrencies have made. The bitcoin price jumped at the beginning of this month and has so far been able to hold onto its gains.Rakuten Wallet, previously known as Everybody’s Bitcoin, was acquired by Rakuten for $2.4 million last August before being rebranded and"closed for refurbishment" in March.
Rakuten first began accepting bitcoin payments back in 2015, integrating bitcoin payments processor Bitnet into its U.S. website.digital scrapbooking startup Pinterest. Rakuten invested around $50 million in Pinterest in 2012. Bitcoin and cryptocurrency investors will be hoping Rakuten's move into crypto will prove as lucrative.
Elsewhere, other Japanese companies are looking to bitcoin and cryptocurrency as a future revenue driver. Yahoo! Japan, separate from the Yahoo! which was bought by U.S. telecoms giant Verizon in 2017, owns some 40% of bitcoin and crypto exchange TaoTao, which is due to open next month.
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