Amazon denies report accepting bitcoin as payment
Amazon denies report accepting bitcoin as payment

Amazon has dismissed a report claiming that it will accept bitcoin as a payment method before the end of the year.

A company spokesperson told Reuters: “While we are interested in this area, speculation about our specific plans for cryptocurrency is wrong.

"We're still focused on researching what this might look like for customers who shop on Amazon," he added.

The rejection came after the London financial newspaper City AM reported a number of specific plans from company insiders.

According to reports, this year the e-commerce giant is preparing to accept Bitcoin as a payment method, followed by other popular cryptocurrencies such as Ethereum and even the company's native token.

The explanation for the cryptocurrency scheme is said to come from Jeff Bezos himself. Although Bezos recently stepped down as Amazon CEO.

Although Amazon's statement does not specifically mention this report. But this is in line with Amazon's speculation about some bogus plans.

The company included major crypto and blockchain product providers last week, sparking a flurry of speculation.

The list shows that Amazon is looking for someone to study how the company uses cryptocurrency technology in its business.

Amazon does not accept Bitcoin as a payment method

“We are inspired by the innovation that is happening in the cryptocurrency space,” a company spokesperson said at the time. We checked what this might look like on Amazon.

Therefore, the company has a general interest in this area. But she does not have a specific plan.

These reports have caused the price of Bitcoin to fluctuate significantly over the past week. Reuters noted that the price of the coin rose by 14.5% after the release of the City AM report.

But the price has fallen from a high of more than $40,000 to just under $37,000.

Before the report was released last week, the cryptocurrency was trading at between $29K and $32,000.

However, accepting Amazon Bitcoin is a big deal. But it wouldn't be the first big company to do so.

Earlier this year, Tesla began accepting Bitcoin as a way to buy a car in the United States. However, due to environmental issues related to the cryptocurrency, it was discontinued after less than two months.

Amazon announced it was creating a $2 billion climate fund last year, and those concerns are likely to be present as well.

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