UK-based News Agency Claims Amazon is Going to Enable Cryptocurrency Payments

Amazon is the fourth-largest company in the world in terms of annual revenue generation. The retail giant was caught by a cloud of rumor mongers who connected Amazon with cryptocurrencies like Bitcoin. The root cause of the rumors was a series of job postings by Amazon that show vacancies for blockchain and digital payment experts.

The rumors took a strong root in the crypto community when a UK-based publication, City AM, published such news. According to City AM articles, it was highly likely that Amazon was looking for a way to make cryptocurrency payments possible for its consumers before the end of the current year. However, the management of Amazon has broken their silence, denying all such claims as mere gossips.

The fake rumors around Amazon and digital payments might seem a plausible explanation behind all the recent job postings. However, there are better reasons that can describe the current interest. According to many, the City AM is not a legitimate source for finding any type of news. Many investors took to Twitter to comment that City AM is the type of newspaper that one reads when their phone battery is dead, and there is nothing better to do.

The market reacted positively to these rumors as Bitcoin gained 14% in a matter of 24 hours. A few hours ago, Bitcoin was able to reach above $40K, but at press time, it has been reset to $38K. City AM also added two anonymous sources to make their claims more believable. While the record has been set correct by Amazon officials, many investors claim that when Amazon decides to make any big moves in the crypto arena, the anonymous sources would be better off talking to more established news sources.

The Company is still Exploring its Options with Cryptocurrencies

The rumors spread by City AM claimed that Amazon is planning to accept payment in currencies like Bitcoin, Bitcoin Cash, Ethereum, and Cardano. The management of Amazon has come forward to clear the misconception and told the media that at present, there are no such plans. At the same time, it has also been made clear that the e-commerce giant is still exploring its options in virtual currencies.

While the rumors were making rounds in the crypto community over the weekend, the price action of Bitcoin and Ethereum underwent a positive trend. Bitcoin could recover from a two-month consolidation period and breach 40K for the first time since June. On the other hand, silver crypto ETH was also able to get above $2K.

Leave a Reply

Your email address will not be published. Required fields are marked *


All You Need To Know About New Innovations In The Crypto Space

BTC is always going to stay at the top like a boss, but the developments which are happening in DAOs, layer-2 solutions, NFTs with the emerging metaverse, and utility are much more groundbreaking and innovative right now. Bitcoin Is Great There is something definitely brewing, and those who have capable noses can easily smell it. […]

Binance Appoints Ex-detective as Director of Audit and Investigations

Binance continues to grow in this new era of crypto adoption, and to make sure that the exchange is well equipped with modern regulations and regulatory insight, Binance has acquired a new director for audit and investigation. Aron Akbiyikian is a well-renowned digital media analyst and forensic expert, and he has taken charge as the […]

Financial Giant SBI Holdings has Launched Crypto Fund

It is believed that it was Japan where the world’s first cryptocurrency, Bitcoin, was founded, but the region has been a tad slower into adopting the crypto revolution. There haven’t been any interruptions or cataclysmic bans on the digital assets and the cryptocurrencies per se, but the overall adoption of blockchain technology remained grey. But […]

Poolz Introduces $2 Million Fund for NFTs and Gaming Projects

Fundraiser and token launcher, Poolz, has said that they are bringing up a $2Million fund that will be used in the research and development of new and unique NFT and gaming projects. Poolz is establishing a fund that will contribute to the research and development of new NFTs and gaming projects in hopes of giving […]

Russian Sberbank Will Roll Out Its Digital Asset Tool This Month

Sberbank, without any doubt, is the largest financial and banking institution in Russia, and it has recently decided to make a move into the crypto space for good. A Russian take on the idea of decentralization is not very positive at all, and for this matter, the central bank of Russia is working on a […]