Amazon has shutdown reports that it intends to accept bitcoin as a form of payment by the end of the year, stating that the ecommerce giant doesn’t have such plans.
The company founded by Jeff Bezos, had shown its interest to join the cryptocurrency market following announcement that Amazon is hiring a digital currency and blockchain product lead.
The job notice was put out on July 22, signifying Amazon’s first step towards a possible implementation of digital coin on its payment option aside fiat.
Amazon spokesperson told Yahoofinance that it has specific plans for cryptocurrencies, but it is still exploring the impact on shoppers.
“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true”, the spokesperson said.
The representative added that, “We remain focused on exploring what this could look like for customers shopping on Amazon.”
Claim and Amazon denial impact bitcoin price
While Amazon denied the report, the claim impacted bitcoin value, rising as much as 14.5 percent on Monday to hit over $40,000 on Coindesk tracker.
But the company’s statement crashed bitcoin value as it went down between $37,000 on Monday evening and about $36,000 on Tuesday morning – although the crypto currently sells for $37,883.73, as at the time of filing this report.
Join the conversation
SPECIAL REPORT: Displaced residents of Zamfara battle hunger, as underfunding derails Nigeria’s nutrition goals
On paper, Muhammad Zayyanu is seven years old. The quiet boy who looks shorter for his age could not recollect...
INVESTIGATION: N7.3bn paid for unnamed projects; how Nigerian govt spent N2.2trn in six months
Analysing nearly 3,000 payments made by various Federal Government Ministries, Departments and Agencies (MDAs) over the previous six months (January...
INVESTIGATION… Delay rocks Nigerian govt’s promise of N30,000 covid-19 relief for artisans, others
Before the outbreak of the COVID-19 pandemic in February, 2020, Chukwudi Okoroigwe’s daily earnings as a bus driver was hardly enough to cater to the...
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...