Amazon denies rumored plans for Bitcoin support

Amazon has refuted current hypothesis it might be readying to assist Bitcoin funds, asserting it at the moment has no plans for BTC.

Based on a Reuters report on July 27 citing a spokesperson from the agency, Amazon stays within the crypto business however has no particular plans to onboard digital property for funds simply but:

“However our curiosity within the area, the hypothesis that has ensued round our particular plans for cryptocurrencies isn’t true.”

Nonetheless, the spokesperson didn’t deny that Amazon is researching crypto funds, including: “We stay targeted on exploring what this might appear like for purchasers procuring on Amazon.”

On July 22, Amazon posted a job opening for a digital foreign money and blockchain product lead. 4 days later, London’s Metropolis A.M. newspaper ran a narrative citing an “insider” who claimed Amazon was “undoubtedly” getting ready to assist Bitcoin funds and launch a local token — igniting frenzied anticipation for Amazon’s purported crypto plans.

Chinese language crypto media outlet, Wu Blockchain, attributed Amazon’s rumored plans to Monday’s surging market motion — throughout which Bitcoin gained roughly 15% in lower than three hours amid a violent squeeze that drove greater than $110 million in liquidations. In a July 26 tweet, Wu stated:

“Bitcoin rose by 12% in a single hour, main the rise. As a result of [the] Chinese language have simply gotten up. It’s apparent that the worth of Bitcoin has began to rise after this rumor about Amazon unfold within the Chinese language group.”

Associated: Amazon plans to just accept Bitcoin funds this 12 months, claims insider

With Amazon dismissing its rumored plans to assist Bitcoin, BTC costs have began to retreat. On the time of writing, BTC was buying and selling down 4.4% over the previous 24 hours at $36,770, based on CoinGecko.

On July 23, Cointelegraph reported on the place posted by Amazon’s funds acceptance and expertise steam. The product lead might be tasked with creating the corporate’s technique of digital foreign money and blockchain in addition to a product roadmap.