Mon, 20 Sep 2021

Amazon denies reports that it will accept bitcoin payments

Robert Besser
31 Jul 2021, 02:09 GMT+10

SEATTLE, Washington: Amazon.com denied media reports on July 26 that the company was considering accepting bitcoins as a form of payment.

Amazon dismissed London's City A.M. newspaper's report, quoting an unidentified insider, which led to the price of bitcoin soaring by 14.5 percent prior to plunging to six percent higher to reach $37,684.04.

"Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true," according to a company spokesperson.

"We remain focused on exploring what this could look like for customers shopping on Amazon," the spokesperson added.

On July 22, Amazon had placed a job posting to hire someone with expertise in digital currency and blockchain.

Increasing numbers of firms have begun accepting digital money as a payment method, thereby bringing the cryptocurrency, earlier avoided by key financial establishments, nearer to going mainstream.

In the past week, Elon Musk, the CEO of Tesla, stated that the electric vehicle manufacturer would, in all probability, again taking bitcoins as a method of payment after a thorough review of the extent of renewable energy being utilized in mining the digital cash.

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