Amazon Will Not Accept Bitcoins Any Time Soon

The cryptocurrency market is particularly volatile and every little rumor can have serious effects on prices. A current report was tough because it said that Amazon is jumping on the Bitcoin bandwagon. But there they immediately denied it.

Bitcoin represents the future of payment transactions for many and there are already many banks and many companies that rely on cryptocurrencies. Bitcoin has not yet reached the masses, and one of the reasons is that you can’t pay an awful lot online with this currency.

An acceptance on the part of the retail giant Amazon would of course have been more than a minor sensation and that is exactly what a British newspaper reported: The London newspaper City AM claims, citing an alleged insider, to have found out that the e-commerce giant is working to accept Bitcoin as a form of payment by the end of the year. In addition, the newspaper claims to have learned that Amazon should prepare its own currency.

Price Hike

This also led to a significant rise in the price of Bitcoin, the cryptocurrency rose by almost 15 percent in the meantime, but eventually leveled off at a six percent plus and around 37,700 dollars.

But all of this is wrong, according to Amazon. Because, as the news agency Reuters reports, the Seattle-based company has denied the report and said: “Regardless of our interest in this area, the speculations that have arisen about our specific plans for cryptocurrencies are not true.”

However, one cannot speak of a categorical denial either, because Amazon also announced: “We are continuing to concentrate on researching what this could look like for customers who shop on Amazon.” So the company leaves more than one back door open. A complete denial would not have been credible either, because the report was based, among other things, on the fact that a job posting appeared in which Amazon is looking for a product manager for digital currency and blockchain.