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Is Flipkart’s Bitcoin Announcement an April Fools Joke?

Is Flipkart’s Bitcoin Announcement an April Fools Joke
  • Flipkart announced today that it will start accepting bitcoin payments.
  • Users believe the announcement was an April Fools Day joke.
  • Meanwhile, the Indian Government is mulling over a possible cryptocurrency ban.

Late last night, India’s largest e-commerce company Flipkart tweeted that it will start accepting Bitcoin payments. The new mode of payment has recently made a media splash as more and more large companies are adopting it.

Flipkart however, was just pulling an April fools joke.

Initially, Flipkart followers were torn between celebrating and being skeptical of the news. Many users reacted to the post, even though they thought it may be a joke. The crypto space is notorious for playing such jokes on its community. Flipkart later clarified with an “#AprilFoolsDay” tweet.

However, the prank did not amuse Flipkart users. Some went as far as saying they will stop using the platform. It seems like the brand’s antics are driving customers away. Others also mentioned how Flipkart is falling behind in the race to integrate crypto in its business.

Flipkart claims to have more than 200 million users as of July 2020. This means adding crypto-payments on the platform would be bullish for the Indian market. In fact, the joke helped raise crypto and bitcoin awareness which still makes it a bullish indicator.

Notably, the joke occurred as the Indian Government considers banning all private cryptos. However, India’s Finance Minister Nirmala Sitharaman gave hope to the Indian crypto sphere by implying there won’t be a complete ban.

In fact, the government is exploring blockchain use and potential. India is also analyzing the possibility of a Central Bank Digital Currency (CBDC). Meanwhile, Indian Corporate firms will soon disclose their crypto holdings under Standard SCH III filing. Also, the country seems to be planning on taxing crypto.

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A Computer Engineering graduate who writes news focuses on cryptocurrency-related and blockchain technology. He is enjoying using his skills to contribute to informing people of the exciting technological advances that happen every day.