Amazon (AMZN Stock) denies rumored plans for Bitcoin support
|Amazon has refuted recent speculation it may be readying to support Bitcoin payments, asserting it currently has no plans for BTC.
According to a Reuters report on July 27 citing a spokesperson from the firm, Amazon remains interested in the crypto industry but has no specific plans to onboard digital assets for payments just yet:
“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true.”
However, the spokesperson did not deny that Amazon is researching crypto payments, adding: “We remain focused on exploring what this could look like for customers shopping on Amazon.”
On July 22, Amazon posted a job opening for a digital currency and blockchain product lead. Four days later, London’s City A.M. newspaper ran a story citing an “insider” who claimed Amazon was “definitely” preparing to support Bitcoin payments and launch a native token — igniting frenzied anticipation for Amazon's purported crypto plans.
Chinese crypto media outlet, Wu Blockchain, attributed Amazon’s rumored plans to Monday’s surging market action — during which Bitcoin gained roughly 15% in less than three hours amid a violent squeeze that drove more than $110 million in liquidations. In a July 26 tweet, Wu stated:
“Bitcoin rose by 12% in one hour, leading the increase. Because [the] Chinese have just gotten up. It is obvious that the price of Bitcoin has started to rise after this rumor about Amazon spread in the Chinese community.”
With Amazon dismissing its rumored plans to support Bitcoin, BTC prices have started to retreat. At the time of writing, BTC was trading down 4.4% over the past 24 hours at $36,770, according to CoinGecko.
On July 23, Cointelegraph reported on the position posted by Amazon’s payments acceptance and experience steam. The product lead will be tasked with developing the company’s strategy of digital currency and blockchain as well as a product roadmap.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.