Thursday, March 28, 2024

Amazon denies reports of accepting Bitcoin as payment | Technology News

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Amazon on Monday denied media reports that the e-commerce giant hopes to accept Bitcoin payments by the end of the year.

That report https://bit.ly/3xb6orM The City AM newspaper from London quoted an unnamed “insider” as saying that the world’s largest cryptocurrency rose by 14.5%, and then narrowed the increase to 6% of the final transaction price to $37,684.04.

An Amazon spokesperson said: “Although we are interested in this area, the speculation surrounding our specific plans for cryptocurrency is not correct.”

“We are still focused on exploring what this will look like for customers shopping on Amazon.”

The company announced the vacancy of the digital currency and blockchain product leader on July 22.

More and more companies are beginning to accept virtual currency for payment, which brings asset classes that major financial institutions evaded until a few years ago closer to the mainstream.

Last week, Tesla CEO Elon Musk said that once due diligence is conducted on the amount of renewable energy used to mine Bitcoin, the electric car manufacturer is likely to restart accepting Bitcoin as a payment method.

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