Amazon Debunks Rumors Of Accepting Bitcoin As Method Of Payment

Amazon has declined to the rumors going around that it may accept payment in Bitcoin before the end of this year. A few days ago, social media went frenzy when the online shopping platform posted a job vacancy seeking an expert in blockchain and digital currencies.

- Advertisement -

A report by City Am suggested that Amazon was lining up Bitcoin payments and token according to an unnamed insider. The suggestion alone sent the price of Bitcoin above 40,000 USD and that was the first time since May. The price is currently rallying to its highest point since the crash in may and at the time of writing, it was at 40,294 USD.

An Amazon spokesperson said, “notwithstanding our interest in the space, the speculation that has ensued around our specific plan for cryptocurrencies is not true.” ‘’We remain focused on exploring what this could look like for customers shopping on Amazon.”

Several eCommerce stores have also started accepting digital currencies as payment, like Paypal and Square Cash Owned by Twitter CEO Jack Dorsey. Last week, Tesla CEO Elon Musk also stated that it is most likely that his company will resume accepting payments in Bitcoin. He said once the level of environmental impact caused by mining drops by a significant margin he will start accepting payment in Bitcoin.

In May he announced that Tesla wasn’t going to accept payment in Bitcoin again citing fears over the environmental impact that Bitcoin Mining has. The total power consumption of the Bitcoin network has been estimated to be as much as the nation of Finland.

Previous Articles:

- Advertisement -

Latest

Bitcoin Climbs Above $105K; Signs Suggest Rally Nearing Top

Bitcoin holds above $105,000 in early week trading across Asia, though signals of “overheating” appear.CryptoQuant reports rising bitcoin demand and whale balances, with key...

GameStop Buys $512M in Bitcoin, Joins Corporate Crypto Trend

GameStop purchased 4,710 Bitcoin, valued at $512 million, as a corporate treasury asset. The company’s CEO called Bitcoin a hedge against inflation and systemic risk,...

Cryptocurrency Set to Dominate Asset Reserves by 2025

Digital assets are entering a new period of growth, with signs cryptocurrency will be prioritized for asset reserves by 2025. Fans Hash introduced mining tools...

TON Blockchain Hit by Outage, Block Production Halts Temporarily

The Open Network (TON) blockchain experienced a temporary outage on June 1, stopping block production for about 40 minutes.The issue was fixed quickly by...

Pi, IMX, ZBCN in Focus as Key Token Unlocks Threaten More Losses

The crypto market experienced a sharp drop as Bitcoin fell from $111,900 to below $104,000, resulting in widespread altcoin declines.Investors are closely watching key...

Must Read

Top 9 VPNs That Accept Bitcoin And Crypto

CyberGhost | FastVPN | TorGuard | Private Internet Access | ExpressVPN | NordVPN | Private VPN | SurfShark | AirVPN | Why Buy VPN...