crypto, bitcoin

Amazon Refutes Bitcoin as Payment but Considers Crypto

On Monday, Amazon denied a statement that it planned to begin accepting Bitcoin payments this year. However, the company admitted that it has an interest in cryptocurrency.

Newspaper City A.M. mentioned an anonymous insider saying that Amazon might start accepting cryptocurrency. The person was saying that Amazon recently published a job position for people with specific digital currency and blockchain skills.

AFP contacted an Amazon spokesman who said that the information in the story was not accurate, but the company might consider the cryptocurrency.

The spokesman said that they stay focused on what this has to look like for consumers shopping on Amazon.

Insights in Amazon

Cryptocurrency values rose on speculation around Amazon that was planning to accept it for purchases. The spokesman also said that the innovation happening in the cryptocurrency space is inspiring for them. He added that they are exploring how could it work for the company.

They believe that the future will depend on new technologies that allow fast, modern and low-priced payments. They also hope to bring this kind of future to Amazon.

After falling between May and July, Bitcoin finally rose above US$41. It was trading at US$37,208 on Monday.

For investors, the cryptocurrency sector feels like a bit of a roller-coaster ride. The authorities and regulators closely watch this sector because of concerns about its lack of transparency.

The reaction by governments caused Facebook to reconsider plans regarding its global cryptocurrency named Libra in 2019.

An independent association trusted the project that has shifted to fielding stablecoins. It is a type of cryptocurrency that has a value based on the selection of real-world currencies.

Annually, in transactions, Amazon deals with hundreds of billions of dollars which makes it a massive marketplace to deliver a debut as legal tender for cryptocurrency.

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