Cryptocurrency news

Amazon denies Bitcoin acceptance rumors

A report from a London tabloid alleged that an anonymous Amazon insider had learned that it would start accepting Bitcoin and other cryptocurrencies by the end of the year.

This rumor quickly spread on news sites and social networks. Amazon has since denied the rumors via an email statement to Coindesk.

Amazon denied City AM’s report and said it doesn’t plan to launch crypto by 2022 and won’t accept Bitcoin this year, but will continue to explore cryptocurrencies and blockchain.

“Despite our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this might look like for clients who buy from Amazon, ”the Amazon spokesperson said.

The City AM source said Amazon has a full-fledged plan to allow crypto payments and will be an integral part of the business going forward.

“It’s not just about getting cryptocurrency payment solutions in place at some point in the future – it’s an integral, well-discussed, and integral part of Amazon’s future operating mechanism. “the source said. .

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The source even said that this project came from Jeff Bezos himself.

“It starts with Bitcoin – this is the key first step in this crypto project, and the directive comes from the top … Jeff Bezos himself.”

The Amazon insider said the company is looking to add more than just Bitcoin and has been working on it since 2019.

“Ethereum, Cardano and Bitcoin Cash will be next in line before putting eight of the most popular cryptocurrencies online. It won’t take long as the plans are already there, and they’ve been working on it since 2019. This whole project is pretty much ready to roll.

The source also added that Amazon is looking to develop its own native token once all the major cryptos are integrated.

“When all of these crypto ducks are lined up, there is another twist to push things even further in favor of Amazon – a native token,” the source explained.

Amazon starting to accept Bitcoin and even going so far as to make its own token set the crypto community on fire and Bitcoin pumped nearly 11% the same day, only to fall back after denying the rumors.

This is the second time that Amazon has made the cryptocurrency news last week. The company caused a stir on Friday after posting a new job posting for a digital currency and blockchain product manager who “would own the vision and strategy for the digital currency product strategy and roadmap. and Amazon’s blockchain “.

While Amazon has denied the City AM insider’s reports, the company’s new job listing shows it has some interest in cryptocurrency or blockchain.

This story is developing.

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