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Amazon denies plans to accept Bitcoin cryptocurrency as a payment option

Amazon denies plans to accept Bitcoin cryptocurrency as a payment option

Digital currency physical metal bitcoin coin. Cryptocurrency snow bitcoin concept.

Amazon has denied the suggestion that the company is imminently due to start accepting Bitcoin (BTC) as a payment option.

Citing an unnamed source, City.am said on Monday that the project was "pretty much ready to roll" and its creation had come from the top -- from former chief executive Jeff Bezos himself. 

According to the publication, Amazon would first accept BTC, likely before the "end of the year," before moving on to at least eight alternative coins including Ethereum (ETH), Cardano (ADA), and Bitcoin Cash (BCH). 

It was added that the tech giant was also investigating the potential of developing its own token. 

However, in a statement to Reuters, an Amazon spokesperson dismissed the report, saying that "the speculation that has ensued around our specific plans for cryptocurrencies is not true."

On July 22, Amazon posted a vacancy for a cryptocurrency and blockchain lead. The job posting asks for someone to join the Amazon Payments Acceptance & Experience team to "develop Amazon's Digital Currency and Blockchain strategy and product roadmap."

"You will leverage your domain expertise in blockchain, distributed ledger, central bank digital currencies and cryptocurrency to develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities," Amazon says. 

According to Amazon's spokesperson, the company has "interest in the space" and is "exploring what this could look like" for customers on the platform.

At the time of writing, 1 BTC is worth $37,259.

In May, Tesla CEO Elon Musk said the company would stop accepting BTC due to its high energy requirements, causing the price of the coin to crash. However, the executive has recently reversed this position, saying Tesla would "most likely" begin accepting BTC again after performing due diligence on electricity use and how much renewable energy is used in trades. 

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by:

Charlie Osborne

from:

msn.com
date of publication icon 29 Jul 2021 icon of time needed to read the article 2 min read
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