While Amazon did post a job opening for a Digital Currency and Blockchain Product Lead on July 22, 2021, it denied any plans to accept cryptocurrency.
While rumours arose in the last few days that WhatsApp was preparing to accept bitcoin as a payment option on the platform, Amazon has refuted them. The original claims sparked online speculation, resulting in a 14.5 percent rise in Bitcoin. The allegations were based on an Amazon job posting for a ‘Digital currency and Blockchain product lead’ that was published on July 22, 2021. Continue reading to learn more about Amazon’s announcement.
Amazon has denied multiple claims that it accepts bitcoin as a form of payment.
In response to the claims, an Amazon spokesman informed a newspaper that, while they are interested in the area, the rumors about their particular intentions for cryptocurrency are false. “Amazon is focused on investigating what it may look like for people buying on Amazon,” the spokesman stated. Given the growing number of businesses accepting cryptocurrencies as payment, Amazon’s significant position in digital currency and blockchain goods has led to speculation that the platform would soon accept bitcoin as a payment option.
Bitcoin soared after the promises of adoption
The announcement that Amazon will start accepting Bitcoin enthralled investors all around the world, and Bitcoin soared to $40,499.68 on July 26, 2021 (according to CoinMarketCap). It was the first time since June 16, 2021 that Bitcoin surpassed the $40,000 barrier. However, when the e-commerce behemoth refused to accept Bitcoin on its platform, the cryptocurrency began to plummet. Bitcoin is now trading at $36, 727, down 3.85 percent, at the time of writing this post (09:10 AM, July 27, 2021).
Amazon is still recruiting a professional with experience in blockchain goods and digital assets, even though it is not allowing bitcoin as a payment option on the marketplace. Since the first rumors were debunked, it’s possible that Amazon is gaining a better grasp of the cryptocurrency business. It is impossible to exclude the prospect of Amazon using blockchain-based payment systems in the future. Tesla was formerly one of the firms who chose to embrace Bitcoin, but Tesla CEO Elon Musk decided against it. He claims that crypto miners are inflicting too much environmental damage, and that Tesla would not accept crypto unless it is mined using a renewable energy source.