Crypto is “speculative… we don’t deal with the speculative” Amazon Pay VP


  • Amazon maintains that it is too early to consider entering into the crypto space due to the current speculative nature.
  • Facebook’s crypto Libra continues to attract mixed feelings from the regulatory front.

As the news of the newly launched Facebook coin Libra settles, many have started speculating whether, the online shopping giant, Amazon will dive into the crypto space as well. However, according to a senior executive from the company, the idea of a crypto cannot be entertained at the moment, maybe in several years to come.

Patrick Gaulthier, the VC of Amazon Pay was speaking at the Fortune’s Brainstorm Finance 2019 event where he said that the decision by Facebook to launch a crypto was a great step but not in the current climate.

“It’s fresh, it’s speculative; at Amazon, we don’t really deal with the speculative, in the now,” he stated.

Facebook’s crypto Libra continues to attract mixed feelings from the regulatory front. The French Minister of the Economy recently cautioned that Libra can never be a sovereign current while asking for guarantees that the crypto will not try to substitute the fiat system. Meanwhile, the Fed Chair, Jerome Powell said yesterday that Libra brings with it both benefits and risks and it only gets into the central bank’s radar due to consumer and money laundering issues.

However, Gaulthier said that Amazon would like to have the conversation about a cryptocurrency in a few years.

“At Amazon, we deal with data a lot, so I’ll be happy to have that conversation two or three years from now.”

 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin may surpass $9,000 as early as this weekend

Bitcoin bulls hit a brick wall on the approach to $9,000. The first digital coin settled at $8,960 after several unsuccessful attempts to pass this barrier.  At the time of writing, BTC/USD is up 2.5% since the beginning of the day.

More Bitcoin News

Bitcoin closes in on $9,000, IOTA and Ethereum Classic bulls unstoppable

Sounds of happiness and cheer fill the cryptocurrency space on Friday following an impressive turnaround from the drab start during the Asian session, to incredible upward movement in the European session. 

More Cryptocurrencies News

DASH has low chance to be classified as a security

DASH, now the 13th largest digital asset with the current market value of $1.15 billion, topped at $144.75 on January 15 and retreated to $124.00 by the time of writing.

More Dash News

Ethereum Price Analysis: ETH/USD bulls in tactical retreat after a failure at $170.00

Ethereum, the second-largest digital asset with the current market value of $18 billion, has been gaining ground after a short-lived retreat on Thursday. The coin has gained over 3% on a day-to-day basis and 2.8% since the beginning of Friday. 

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls piggy-back on altcoins rally

This week was marked by a strong altcoins rally on the cryptocurrency markets. Bitcoin SV (BSV) and Dash experienced the sharpest price increase over 100% in recent seven days...

Read the weekly forecast

BTC

ETH

XRP