The cryptocurrency market is growing rapidly throughout the world. Not only has the technology become a major boom to worldwide industries, but the widespread adoption and usage of crypto coins as forms of payment have also increased exponentially. With that in mind, many recognizable brand names are entering the cryptosphere in order to maximize the potential of this technological expansion. In addition to global brands like Nike, both Facebook and Samsung are rumored to be working towards their own crypto coin. Furthermore, speculations of a crypto wallet for Apple smart devices have picked up as well.
As these reports and speculations mount, online betting sites are starting to offer bets on whether or not the following major brands will unveil crypto items by 2020. Let’s take a look at these crypto prop bets and see where we can make some money or crypto.
Will Facebook Launch a Crypto Coin in 2019?
- Yes (-120)
- No (-120)
Facebook is the largest social media platform in the world. And they have been rumored to be interested in the cryptocurrency industry for quite some time. Over the last few months, reports have leaked some details about Facebook’s ambitions that leads most industry experts to believe that Facebook will release their own crypto coin in the near future. But will that future be before January 1st, 2020 or not?
To answer this question, we have to take a look at what news we can find on Facebook’s crypto endeavors.
Are They Even Entering the Crypto Game?
It’s all but officially confirmed that Facebook is entering the crypto industry. For starters, Facebook already tested a potential peer-to-peer in-app currency with their WhatsApp late last year. From there, more news came out that Facebook had a secret team of employees in a separate department working on creating their own blockchain.
For those that don’t know what blockchain is, it’s the actual technology that cryptocurrency is built on. The most popular crypto coin and blockchain is Bitcoin. Developers can either create their own projects on an established blockchain like Ethereum, which was the world’s largest blockchain. Or developers can create their very own blockchain, which is what Facebook is doing. The advantage of this is that you aren’t using someone else’s tech to release your own coin.
With that said, Facebook has tasked PayPal’s former president to lead their blockchain team. There are reports of over 50 employees assigned to this once secret group. Over the last few days, news has come out that Facebook also registered a new company called Libra Networks in Switzerland. This company is reportedly set up to be a blockchain payments firm.
If that’s not enough to convince you of Facebook’s crypto in the works, they have reportedly raised $1 billion in capital for Project Libra.
What Kind of Coin Will Facebook Release?
Early reports indicate that Facebook is going to release a stablecoin. For the non-crypto traders and enthusiasts out there, a stablecoin is a type of cryptocurrency that’s pegged to a stable asset like the US dollar. It can also be pegged to a valuable commodity like gold or silver. The primary goal for a stablecoin is to minimize volatility. In other words, the asset that a stablecoin is pegged to will keep that coin from rapidly going up or down in price. So, when it’s pegged to the US dollar, the stablecoin stays at a value of $1 USD.
In regards to using cryptocurrency as a form of payment, a stablecoin makes it more reliable to make payments without having to factor in the rise or fall of a coin’s price. For Facebook, with nearly 2.4 billion users, a stablecoin makes it very safe and reliable for FB users to make payments via the coin in the Facebook ecosystem. One last note about Facebook using a stablecoin, it will also help with their e-commerce efforts. Cryptocurrency, especially in the form of a stablecoin, makes it possible for users to send global payments quickly and without regional restrictions.
Will the Coin Come out in 2019?
As for this bet, the smart play is on “No.” With roughly six months left in the year, and no news of a potential launch in the near future, a Facebook coin would most likely wait until next year. Furthermore, Facebook is in discussions with Visa and Mastercard for partnerships, which could take some time. Additionally, without any significant regulations from the United States towards crypto, it’s hard to imagine that Facebook would jump into the industry when the waters are still murky.
Will Samsung Launch a Crypto Coin in 2019?
- Yes (-140)
- No (Even)
Unlike Facebook, Samsung has already made a splash in the cryptocurrency market. For starters, they unveiled a crypto wallet on their flagship smartphone Galaxy S10 a few months ago. Commonly referred to as the Samsung blockchain wallet, this crypto wallet is compatible with ERC-20 tokens only. Basically, it only allows coins that are built on the Ethereum blockchain. And it’s not compatible with Bitcoin as of yet. I would expect this compatibility to come out on a future release.
According to Block Tribune, Samsung announced they will implement this wallet and other blockchain functions on their budget Galaxy phones:
“We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions. We will also expand our service target countries after Korea, the United States, and Canada.”
That’s big news, because it will introduce crypto and blockchain functions to millions of additional customers.
But that’s not all when it comes to Samsung and crypto. The South Korean tech giant invested nearly $3 million in a crypto wallet company this past April. The company, Ledger, is the most popular cold wallet on the market today.
Samsung Working on Their Own Blockchain
In April, news came out that Samsung had begun working on creating their own blockchain. The initial reports suggested that Samsung would have its own private Ethereum-based blockchain. Based on these reports, Samsung would create their blockchain and crypto coin on the established Ethereum blockchain, which would make it an ERC-20 token.
Will Samsung Release a Coin in 2019?
Online betting sites seem to favor Samsung releasing a coin this year. The reasons for this are: Samsung’s activity in the crypto industry, building a blockchain on Ethereum, and the fact that Samsung is in South Korea where they don’t face the same scrutiny as crypto does in the United States.
With numerous financial institutions coming into the crypto game, and global brands testing the waters like Pepsi and Nike, it makes sense that Samsung jumps ahead of its biggest competitors like Apple by releasing a coin this year. Since the company already has experience with crypto and they’re reportedly building on Ethereum, they could definitely release Samsung crypto by the end of 2019.
For this bet, the smart play is on “Yes” at -140 odds. However, “No” also offers solid betting value if you don’t believe that Samsung will release their own coin this year.
Will Apple Get Involved in the Crypto Industry This Year?
As mentioned above, Apple is a major rival to Samsung in the smartphones and tablets niches. But one thing that’s in Samsung’s advantage has been their willingness to embrace cryptocurrency. With that said, there are some rumbles that Apple is exploring the blockchain tech and crypto industry. Bovada has released the following prop bets based on Apple’s rumored interest in crypto:
Will Apple Have a Crypto Wallet on iOS by 2020?
- Yes (+180)
- No (-240)
It’s a surprise that Apple hasn’t already dipped its toes in the crypto waters, especially with Samsung doing so. Apple is the largest publicly-traded company in the United States and it’s one of the most popular global brands. Additionally, Apple is always at the forefront of technology and innovation. So, to not be involved in any type of Apple crypto has been rather surprising.
There have been rumors over the last year that Apple has been exploring blockchain technology. An SEC filing earlier this year revealed some of Apple’s potential blockchain desires. We also can’t ignore that former Apple employees have gone on to join crypto startup companies over the last two years.
With that said, if Apple was going to unveil a crypto wallet then it would be later this year with their new iPhone devices. As of now, the leaked information has mostly been about a new design with some upgraded features under the hood. But, there have been no reports or rumors that Apple could release a crypto wallet later this year with their new products.
For this bet, the smart play is on “No” at -240 odds.
Will Apple.com Accept Crypto Payments This Year?
- Yes (+180)
- No (-240)
Although there is no concrete evidence or even rumors of Apple getting involved with crypto in the near future, there is a chance that Apple could start accepting crypto payments later this year. It’s becoming inevitable for major manufacturers and retailers to accept Bitcoin and other cryptocurrencies as forms of payment. Companies like Starbucks, Whole Foods, Jamba Juice, and Baskin Robbins are just a few examples of popular brands accepting crypto payments.
Despite the betting favorite being “No,” I am leaning toward Apple.com accepting crypto payments by the end of the year. In addition to the companies mentioned above, major financial institutions like Fidelity and exchanges like Bakkt are entering the crypto market. Furthermore, ETFs could be approved in October. It’s just a matter of time before crypto is used everywhere. With that said, it’s time for Apple to get involved and the easiest first step when venturing into crypto is to accept payments.
Will Tesla Inc. Accept Crypto Payments by End of Year?
- Yes (+160)
- No (-250)
Tesla is a car manufacturer that has moved to the forefront of technologically-advanced automobiles. With that said, they would seem to be the one company to embrace this new crypto technology. VW has already entered the cryptosphere with their blockchain partnerships, but not many largescale companies are accepting payments in the form of crypto.
Could that be changing in the near future?
Tesla has been rumored to be interested in creating their own Tesla crypto coin. Unfortunately, that buzz has died down. However, their top boss Elon Musk has been creating crypto buzz for a while now. Although Musk believes that crypto is a better way to transfer value than paper money, he’s hesitant to use Tesla’s resources in the cryptosphere as of now. In my opinion, it’s just a matter of time before Tesla fully embraces the crypto market. Unfortunately, that will require a more stable and regulated crypto market, which could happen by the end of this year or the beginning of next year.
I want to say Tesla will accept crypto payments this year, but it’s hard to put money on it. So, take the safe play and go with “No.”
Final Thoughts on Crypto Prop Bets
These were just a few of the two dozen or more crypto prop bets available. Check back later this week for analysis on a few more. With that said, cryptocurrency is a fascinating digital asset and utility token. Furthermore, the blockchain technology that crypto is built on is a revolutionizing, world-changing tech.
Industries are already seeing an improved optimization with their business functions because of blockchain technology. Additionally, crypto investors are starting to rally and the long bear market is coming to an end sooner than later. By the end of this year, or the beginning of next year, we are going to see some big changes in store due to crypto.