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Amazon Denies Bitcoin as Payment Anytime Soon

On Monday, Inc has denied a media report which said that the e-commerce giant was looking out to agree to take bitcoin payments by the end of this year.The report ascertains, referring to an anonymous “insider,” that he had sent the world’s biggest crypto-currency up as much as 14.5% before it clipped gains to the last trade of 6% higher at an amount of $37,684.04.

A spokesperson from Amazon said that their interest in the space, the assumption that has followed up around some of their specific plans for crypto-currencies, is not correct. The spokesperson further said that they want to focus mainly on exploring what kind of impression this could give for the customers who are shopping on Amazon.On July 22, 2021, the company posted a job opening regarding digital currency and blockchain product lead.

Amazon Denies Bitcoin as Payment Anytime SoonAn increasing number of companies are already on track to agree to take virtual currencies for payment, bringing up an asset class avoided by the important financial institutions until a few years ago closer to the ordinary.Last week, CEO of Tesla Inc., Elon Musk said, in the electric vehicles industry, bitcoin could be a standard payment medium to support the major shift towards renewable energy consumption.

However, the new payment model would be accepted in the mainstream gradually and not immediately. The changes would be relevant only after evaluating the due diligence and thoroughness on the quantity of renewable energy, which would be used to mine the amount of currency to trim it according to the payment price.

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