MARKETS

Amazon denies news of accepting Bitcoin as payment

Amazon.com Inc on Monday denied about the news that the e-commerce giant was going to accept bitcoin payments by the end of this year.

The report from London’s City A.M. newspaper, citing an unnamed “insider”, sent the world’s biggest cryptocurrency up as much as 14.5% before it trimmed gains to last trade 6% higher at $37,684.04.

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” a spokesperson from Amazon clarified.

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“We remain focused on exploring what this could look like for customers shopping on Amazon.” further added.

It is important to mention here that the company on July 22 posted a job opening for a digital currency and blockchain product lead.

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Tesla Inc Chief Executive Officer Elon Musk

A large number of businesses have already started to accept digital currencies for payment, by major financial institutions until a few years ago closer to the mainstream. 

Last week, Tesla Inc Chief Executive Officer Elon Musk said the electric-car maker will intend to restart accepting bitcoin as payments source once it conducts due diligence on the amount of renewable energy used to mine the currency.

Amazon.com | Digital currency | Bitcoin | Cryptocurrency | Bitcoin Prices |

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