NewsAmazon Debunks Rumors Of Accepting Bitcoin As Method Of...

Amazon Debunks Rumors Of Accepting Bitcoin As Method Of Payment

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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.

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, β€œnotwithstanding our interest in the space, the speculation that has ensued around our specific plan for cryptocurrencies is not true.” β€˜β€™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.

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