Despite Report Amazon is Not Accepting Bitcoin as Payment

According to a media report that surfaced recently, e-commerce giant Amazon supposedly was going to start accepting Bitcoin as a payment by end of year.

Amazon denied the report on Monday and a spokesperson said, “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true.”

The report was from London’s City A.M. newspaper, and cited an unnamed “insider.” The news had sent the world’s biggest cryptocurrency up as much as 14.5% before it pulled back.

“We remain focused on exploring what this could look like for customers shopping on Amazon,” added the spokesperson.

Earlier this month Amazon had posted a job opening for a digital currency and blockchain product lead.

It was last week that electric vehicle maker Tesla’s CEO Elon Musk, said the company will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of
renewable energy used to mine the currency.

Tesla suspended vehicle purchases back in May using the cryptocurrency out of concern over the “rapidly increasing use of fossil fuels for bitcoin mining.

On Monday Bitcoin briefly traded above $40,000 for the first time in nearly six weeks, before Amazon denied reports of it accepting the payment.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.