Amazon denies cryptocurrency rumors, and Bitcoin drops in value
The ever-volatile price of Bitcoin took another turn as Amazon denied recent rumors that it is looking to accept the cryptocurrency as a form of payment.
Speculation about the online retailer's embrace of Bitcoin and other cryptocurrencies, as well as rumors of tokenization, caused a Bitcoin surge at the weekend. But now the company has spoken out to deny the suggestions, the value has tumbled again.
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It was a report from City A.M. that sparked the speculation and rumors -- although things were further fueled by a job listing by the company for a "Digital Currency and Blockchain Product Lead".
The publisher cited an insider as having insight into Amazon's plans, but the company has now denied all of the claims made in the article.
A spokesperson for Amazon said:
Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this could look like for customers shopping on Amazon.
This is, of course, not to say that Amazon will not accept Bitcoin or other cryptocurrencies in the future. The company may indeed already have plans to do so -- but it is clearly not ready to admit to this if it is the case.
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