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This article was published on July 26, 2021

Bitcoin surges near $40K amid rumors that Amazon will accept it for payments

Good news for HODLers

Bitcoin surges near $40K amid rumors that Amazon will accept it for payments
Thomas Macaulay
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Thomas Macaulay

Writer at Neural by TNW Writer at Neural by TNW

Update (13:15PM CET, July 27, 2021): Added response from Amazon that denied reports that it plans to soon accept Bitcoin payments.

Bitcoin soared 12.5% to nearly $40,000 on Monday amid speculation that Amazon plans to start accepting cryptocurrencies for payments.

Bitcoin briefly surged above $39,000, its highest price since mid-June, while Ether and other digital currencies also rose.

The rally followed mounting rumors about Amazon’s crypto plans, triggered by last week’s discovery of a job ad for a “Digital Currency and Blockchain Product Lead” at the company.

“The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap,” reads the posting.

Days later, an unnamed Amazon insider told news outlet City AM that the retail giant will accept Bitcoin payments “by the end of the year.”

The source said Amazon was also considering accepting other cryptocurrencies — and launching its own token in 2022:

It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.

She added that Amazon has been working on the plans since 2019 and that the project “is pretty much ready to roll.”

Amazon, however, has denied the report that it will soon accept Bitcoin payments, but the company acknowledged an interest in cryptocurrency.

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” said an Amazon spokesperson on Monday. “We remain focused on exploring what this could look like for customers shopping on Amazon.”

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