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.
Report: Amazon is preparing to accept Bitcoin, leading to a cryptocurrency surge -- tokenization also possible
Speculation about the possibility of Amazon starting to accept Bitcoin as a method of payment started to circulate after the company posted a job listing for a Digital Currency and Blockchain Product Lead.
This led to a surge in the cryptocurrency, with the trading heading toward $40,000 in an impressive 20 percent jump over the weekend. In addition to the job posting, an insider has been quoted as saying that not only is Amazon working toward accepting Bitcoin by the end of 2021, but it is also considering launching its own token.