Amazon will not Accept Crypto Payments Anytime Soon

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From the past few days, Twitter and the crypto space have been riddled with overzealous rumors that Amazon is willing to adopt cryptocurrency, especially Bitcoin, as one of their payment methods. This little rumor proved very effective for boosting the price of Bitcoin and making it come out of the oppressive state it has been in for the past few months. But as incredible as this rumor worked for Bitcoin, in the beginning, it has now started to backfire.

If you analyze the charts and on-chain data, then you will come to know that this little stunt pulled off by crypto enthusiasts has bumped the price of Bitcoin by 15%, making it cross $40k, which seemed like an impossible feat not so long ago. Now, Amazon has come forward to demystify the rumor explaining that they are not interested in making cryptocurrency a part of their payment solution program by the end of 2021.

Amazon may Create its Token

One might think, was the job offers posted by Amazon for recruiting a blockchain expert a ruse? Well, not essentially; Amazon has confirmed that it is still interested in exploring the blockchain space but wants to hire its own muscles to do so, which clearly signals towards minting its own crypto token. However, Amazon has not confirmed anything towards another rumor that says Amazon will be developing their own token by the end of 2022, but the passion is there. This classic turn of events has not only dejected the crypto enthusiasts by confirming that Amazon will not be adopting crypto payments but, on a more severe note, has also made Bitcoin’s price drop by 7%.

The anonymous sources that were quoted within the news that got published proved wrong, and as heartbreaking as it may sound for the crypto community, Amazon will not accept Bitcoin or any other altcoins. It is actually a blessing in disguise. The company’s interest in exploring the blockchain sector is more than real, as they have also listed a job offering around that. Whether Amazon accepts Bitcoin and other altcoins in the future or not, one thing is confirmed: it will most definitely be joining the crypto space by launching a private blockchain project or its own cryptocurrency.


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