Home News Amazon plans to accept Bitcoin payments this year, claims insider

Amazon plans to accept Bitcoin payments this year, claims insider

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The price of Bitcoin on Monday for the first time since mid-June approached the $ 40,000 mark. The cryptocurrency is growing amid rumors that Amazon will soon accept it as a payment for goods. The reason for them was the appearance on the retailer’s website of a vacancy for a specialist in blockchain and digital currencies. According to the announcement, the applicant must have experience in the cryptosphere. As well as with digital currencies of central banks. The specialist will have to “define the vision and strategy” of the Amazon blockchain direction.

Obviously, Amazon is serious about getting into cryptocurrency. But according to an insider, the internet giant’s plans go far beyond just recruiting a leading cryptocurrency specialist.

Bitcoin as a means of payment and Amazon’s own token

An Amazon spokesman said the company believes “the future will be built on new technologies that enable modern, fast and low-cost payments”. And hopes “to bring that future to Amazon customers as soon as possible”.

Bitcoin is the first step in realizing the company’s cryptocurrency ambitions. After Bitcoin, Amazon integrates Ethereum, Cardano and Bitcoin Cash into its payment system. And in total, according to an insider, the Internet giant is considering the use of about eight of the world’s largest cryptocurrencies. “It will not take long, because there are already plans. And they have been working on them since 2019”, the informant notes.

The source claims that the initiative “comes from the very top, from Jeff Bezos“. And the project is “almost ready to go”. Thus, the new functionality may appear on the trading floor by the end of 2021.

If true, such development could potentially accelerate cryptocurrency adoption.

After the project is launched and Amazon starts working with major cryptocurrencies, the next stage will be the launch of its own token. “This will become a multi-level infrastructure where you can pay for goods and services or earn tokens as part of a loyalty scheme”, said a person familiar with the project.

Note that there is no confirmation of this information yet.

Other factors that could influence the growth of the first cryptocurrency

The head of Twitter Jack Dorsey also announced his interest in the cryptosphere earlier. He noted that Bitcoin will become an integral part of the future microblogging service, and called it “the best candidate” for the role of the “national currency” of the Internet.

Not long before that, Tesla founder Elon Musk allowed the resumption of accepting bitcoins for electric cars of his automaker. For this, he said, at least half of the cryptocurrency must be mined using renewable energy sources.

Another circumstance could have provoked the growth of a digital coin. More than $ 700 million were liquidated from short Bitcoin positions on Monday, according to Bybt.com. This is the largest one-day sale in three months.

At the same time, experts add that rumors about Amazon probably played a role too.

Against the backdrop of this news, the bitcoin rate added 12% this morning and is now trading around $ 38,300. Note that rumors about the possibility of accepting cryptocurrencies at Amazon have repeatedly appeared on the network over the past years, but the company has always denied them. However, in the intervening time, other major players have begun to work with cryptocurrencies, for example, PayPal allowed its customers to buy Bitcoin and pay them to shops.

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