Could Kim Dotcom’s Baboom Challenge Spotify with Bitcoin?

January 21, 2014
Kim Dotcom could takeover the Internet with Bitcoin.

Internet Entrepreneur Kim Dotcom was recently interviewed by Max Keiser, and the topic of Bitcoin eventually became the focal point of the discussion. When asked whether or not he was a believer in Bitcoin, Kim stated that the digital currency could become “one of the most important methods of transferring assets over the next decade”. Kim Dotcom’s MEGA accepted bitcoins as payment on their first day of operation, and it would make sense for the Internet tycoon to make similar choices with his other ventures in the near future. With Kim Dotcom and the rest of MEGA team working on all kinds of different projects involving email, encryption, and more, it’s possible that he may be able to leapfrog the competition in various industries by deciding to accept bitcoins right from the jump.

Enter Baboom

Baboom, which is Kim Dotcom’s new competitor to Spotify, enjoyed a soft launch on Monday, but all you can really do with the service right now is listen to Dotcom’s new album, Good Times. While the launch may not seem like a big deal right now, it could have a leg up on other music streaming services when it comes to payments. Bitcoiners have long tried to get Spotify to accept bitcoins for subscription payments, but it doesn’t seem that the music streaming giant is looking to embrace cryptocurrencies at this time. If the full version of Baboom is released to the public in time, we could be looking at a situation where Dotcom is actually able to carve out a bit of the market space for himself. It seems most users don’t see many differences between the current music streaming services, so accepting bitcoins could give Baboom an edge in a certain demographic. It’s important to note that the number of Bitcoiners out there also seems to be growing at an exponential rate.

Bitcoin Business Sense

Kim Dotcom is playing his Bitcoin hand “close to the chest”, but you have to think he would love to accept the cryptocurrency for all of his future online products and services. He’s noted an appreciation for Bitcoin on multiple occasions, so there’s no reason to think he would leave Bitcoin out of the Baboom launch. Even if he wasn’t a fan of Bitcoin, you could argue that it would make sense for him from a business perspective. By being the first business to accept bitcoins in various online industries, he could carve out a chunk of the entire Internet pie for himself.

Last modified (UTC): January 21, 2014 03:18

Kyle Torpey @kyletorpey

Kyle is a freelance Bitcoin writer and the Marketing Director for Bitcloud. His work has been featured on Business Insider, VICE Motherboard, Let's Talk Bitcoin, and RT's Keiser Report . You can follow him on Twitter (@kyletorpey) or send him an email.