Amazon has denied a report claiming it plans to accept Bitcoin as payment before the end of the year. “Despite our interest in the space, the speculation that has arisen around our specific plans for cryptocurrencies is not true,” said a company spokesperson. told Reuters“We remain focused on exploring what this might look like for customers shopping on Amazon.”
The denial came after Financial document in London City AM reported on a specific set of plans coming from a company insider. According to City AMAmazon is set to accept Bitcoin as payment this year, followed by other popular cryptocurrencies such as Ethereum, and even Amazon’s own native token. Instructions for the cryptocurrency initiative are said to come from Jeff Bezos himself, although Bezos recently stepped down from the Amazon CEO position to become the company’s executive chairman. While Amazon’s statement doesn’t specifically mention this report, it matches speculation about “specific plans” that Amazon claims are untrue.
The reason for the wave of speculation was a vacancy from the company last week for a “Product leader digital currency and blockchain.The listing said Amazon is looking for someone to investigate how the company can leverage cryptocurrency technology as part of its business. “We are inspired by the innovation taking place in the cryptocurrency space and are exploring what this could look like on Amazon,” a spokesperson said at the time. The company therefore has a general interest in the area, but no concrete plans.
The reports have caused wild swings in the price of Bitcoin over the past week. Reuters notes that the price of the currency has since risen by as much as 14.5 percent City AMMonday’s report. In the past day, however, the price has fallen from a high of more than $40,000 to less than $37,000, according to data from CoinDesk. Last week, prior to the reports, the cryptocurrency was trading between $29,000 and $32,000.
While Amazon would be significant in accepting Bitcoin, it wouldn’t be the first major company to do so. Earlier this year, Tesla started accepting Bitcoin as payment for its cars in the US, but stopped less than two months later due to environmental concerns associated with the cryptocurrency. These concerns are likely shared by Amazon, which announced a $2 billion climate fund last year.