With the recent updates, it is visible that the number of companies accepting cryptocurrencies is growing. Last week, Tesla CEO Elon Musk stated that he will resume BTC payments at the ‘B Word’ conference.
Following that, City A.M publication reported that Amazon plans to accept Bitcoin as Payment by end of the year, says former chief executive Jeff Bezos. Moreover, the company would first accept BTC following other altcoins including Ethereum (ETH), Cardano (ADA), and Bitcoin Cash (BCH).
The e-commerce giant also announced that the firm seeks digital currency and blockchain lead on July 22. In addition, Amazon involves investing its potential for creating its own token.
Amazon Refuses Recent Rumors
After this whole commotion, Amazon denies recent rumors that the firm is preparing to accept BTC payments, claiming that the company has no plans to support BTC. However, according to the statement to Reuters, the spokesperson from the firm states that Amazon is still interested in the crypto industry but has no plans on-board to execute. He added:
“Regardless of our interest in crypto space, the speculation that has arisen regarding our specific plans for cryptocurrencies is untrue. We will continue to investigate what this might involve for Amazon customers.”
Consequently, Wu Blockchain, a Chinese media outlet directly linked Amazon’s rumored plans as the reason for Bitcoin’s surge on Monday. On July 26, Bitcoin quickly surged to nearly 15% within three hours, similarly other altcoins like ETH also soared 10%. The market action had a massive hit on the same day, and Wu Blockchain posted a tweet connecting the rumors.
Although the crypto market will never fade away, investors in digital assets and the craze for cryptocurrencies will not. Many tech giants will support cryptocurrencies as payment options in the near future, but it will take time to implement.
