• Amazon has denied rumors that it is planning to support Bitcoin

  • Amazon has denied recent reports that it is planning to allow Bitcoin payments, stating that it presently has no plans to do so.

    On July 27 citing an Amazon spokesperson, the company is still interested in crypto but has no immediate plans to accept digital assets for payment:

    “Despite our interest in the industry, the rumors that have circulated about our specific plans for cryptocurrencies are false.”

    The spokeswoman did not dispute, however, that Amazon is investigating cryptocurrency payments, saying, “We are focused on studying what this could look like for Amazon consumers shopping.”

    Amazon announced a job position for a digital currency and blockchain product lead on July 22. Four days later, the City A.M. newspaper in London published a story claiming a “source” who claimed Amazon was “absolutely” planning to allow Bitcoin payments and create a native token, sparking a frenzy of speculation over Amazon’s alleged crypto ambitions.

    Amazon’s suspected ambitions were ascribed by Wu Blockchain, a Chinese crypto media site, to Monday’s soaring market action, during which Bitcoin gained about 15% in less than three hours amid a violent squeeze that resulted in more than $110 million in liquidations. Wu noted on July 26 in a tweet:

    “Bitcoin surged by 12 percent in one hour, outpacing the rest of the market. Because the Chinese have just recently awoken. Following the propagation of the Amazon story in the Chinese community, the price of Bitcoin has clearly begun to rise.”

    BTC prices have started to fall as Amazon denied its alleged plans to support Bitcoin. BTC was trading at $36,770 at the time of writing, down 4.4 percent in the last 24 hours.

    On July 23, Amazon announced a new role in payments acceptance and experience steam. The product lead will be in charge of creating the company’s digital currency and blockchain strategy, as well as a product roadmap.

    What's your reaction?
    Happy0
    Lol0
    Wow0
    Wtf0
    Sad0
    Angry0
    Rip0