Amazon denies rumored plans for Bitcoin support

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Amazon has refuted current hypothesis it could be readying to help Bitcoin funds, asserting it at the moment has no plans for BTC.

In line with a Reuters report on July 27 citing a spokesperson from the agency, Amazon stays within the crypto trade however has no particular plans to onboard digital belongings for funds simply but:

“However our curiosity within the area, the hypothesis that has ensued round our particular plans for cryptocurrencies just isn’t true.”

Nevertheless, the spokesperson didn’t deny that Amazon is researching crypto funds, including: “We stay targeted on exploring what this might appear like for patrons procuring on Amazon.”

On July 22, Amazon posted a job opening for a digital forex and blockchain product lead. 4 days later, London’s Metropolis A.M. newspaper ran a narrative citing an “insider” who claimed Amazon was “undoubtedly” making ready to help Bitcoin funds and launch a local token — igniting frenzied anticipation for Amazon’s purported crypto plans.

Chinese language crypto media outlet, Wu Blockchain, attributed Amazon’s rumored plans to Monday’s surging market motion — throughout which Bitcoin gained roughly 15% in less than three hours amid a violent squeeze that drove greater than $110 million in liquidations. In a July 26 tweet, Wu stated:

“Bitcoin rose by 12% in a single hour, main the rise. As a result of [the] Chinese language have simply gotten up. It’s apparent that the worth of Bitcoin has began to rise after this rumor about Amazon unfold within the Chinese language group.”

Associated: Amazon plans to accept Bitcoin payments this year, claims insider

With Amazon dismissing its rumored plans to help Bitcoin, BTC costs have began to retreat. On the time of writing, BTC was buying and selling down 4.4% over the previous 24 hours at $36,770, in line with CoinGecko.

On July 23, Cointelegraph reported on the place posted by Amazon’s payments acceptance and experience steam. The product lead might be tasked with creating the corporate’s technique of digital forex and blockchain in addition to a product roadmap.