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Amazon denial of bitcoin payment claim, crashes crypto value

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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.

READ ALSO: Bitcoin rebounds as Elon Musk gives update on Tesla accepting crypto

“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.

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