Amazon officially comments on rumors about supporting Bitcoin payments

Amazon has officially commented on the recent rumors surrounding the company purportedly creating its own coin and supporting BTC.

@Jak_ConnorTT
Published Tue, Jul 27 2021 5:07 AM CDT   |   Updated Wed, Aug 25 2021 7:48 PM CDT

Yesterday, reports surfaced about Amazon offering cryptocurrency payments to shoppers on its platform, and now Amazon has officially commented.

Amazon officially comments on rumors about supporting Bitcoin payments 01 | TweakTown.com

To give some context, on Jul 22, Amazon posted a job listing for a digital currency and blockchain product lead, leading people to believe that Amazon was in the midst of exploring the cryptocurrency space. Four days after the listing was posted, London's City A.M newspaper published a story that claimed an insider informed the newspaper that Amazon was "definitely" going to support Bitcoin payments and that it will launch a native token.

As you can probably imagine, the news caused the price of Bitcoin to skyrocket, gaining around 15% in less than three hours, per Wu Blockchain. Now, an Amazon spokesperson has told Reuters that the company isn't planning on accepting Bitcoin as a form of payment by the end of the year and that the "speculation that has ensued around our specific plans for cryptocurrencies is not true."

Adding, "We remain focused on exploring what this could look like for customers shopping on Amazon."

Now that this story is live, you can probably expect the price of Bitcoin to begin to trend downwards as the hype surrounding Amazon "accepting Bitcoin" will fade.

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NEWS SOURCE:cointelegraph.com

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest news. Jak's love for technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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