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June 25, 2022
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Amazon Denies Bitcoin (BTC) Rumors

The initial announcement that Amazon would start accepting Bitcoin payments caused the price of the currency to rise.

Amazon.com Inc (NASDAQ: AMZN) has openly rejected claims by a British newspaper, City A.M., that it would begin accepting Bitcoin payments by the end of the year.

The City A.M. report was distributed free of charge on the London Underground and cited an unidentified insider as the source of the information. He claimed that Amazon was discussing full integration of cryptocurrencies into its payment system, starting with Bitcoin. The report further claimed that the guideline was issued by Jeff Bezos.

However, the e-commerce giant disassociated itself from such a report. The company claimed that, despite its interest in the crypto universe, and rightly so, there were no specific plans for cryptocurrencies yet. Instead, as the company’s spokesperson said in the email:

“We remain focused on exploring what this could be like for customers who shop at Amazon.”

The initial announcement that Amazon would start accepting Bitcoin payments caused the price of the currency to rise. With Bloomberg reporting Amazon’s denial, the price dropped again. As of this writing, it has fallen 4.08% in 24 hours to $37,065.23.

According to the spokesperson’s comments, while there may be no rush on a large scale to adopt a cryptocurrency, Amazon was keeping its eyes and ears open. Last week, the company announced its intention to contract a “digital currency and blockchain product lead” to develop Amazon’s strategic cryptocurrency and blockchain product pipeline.

The product manager would be based in Seattle and work with Amazon’s Payment Acceptance Experience Group. Speaking about the job ad, a company spokesman said:

“We believe the future will be built on new technologies that enable modern, fast and cheap payments, and we look forward to bringing that future to Amazon customers as quickly as possible.”

The successful candidate for the job should have prior experience in blockchain, cryptocurrencies, and central bank digital currencies. This experience would then be deployed to position the company with ready capabilities to take advantage of changes in the cryptocurrency space in line with the company’s overall vision.

The job ad isn’t Amazon’s first foray into the digital currency ecosystem. In 2013, the company launched an Amazon currency that allows users to access discounts when shopping with their Kindle and Fire tablets. In 2017, Amazon CEO Andy Jassy ​​also noted that while the company wasn’t focusing on blockchain technology, it was watching developments.

Source: Coinspeaker

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