Amazon Bitcoin Payment Rumors Spark Market Euphoria

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Rumors have emerged that e-commerce giant Amazon is lining up crypto payments and a native crypto token. However, official sources are yet to confirm the information.

London Newspaper says Amazon to Accept Crypto Payment

Crypto markets rallied Sunday night following rumors that e-commerce giant Amazon plans to accept crypto payments and may even launch its own native token. No official sources have confirmed the information. 

The report originated from the London business newspaper City A.M and has since been referenced by numerous publications. City A.M. posted an interview with an Amazon insider who stated that the company is looking to accept Bitcoin payments “by the end of the year” and is planning its own token for 2022. Additionally, the insider claimed that the recent move towards crypto integration is “coming from Jeff Bezos himself,” despite Bezos stepping down as Amazon CEO on Jul. 5, 2021.

The news sparked excitement on Twitter as users connected the rumors to Bitcoin’s Sunday night rally to $40,000. However, experts like Alex Kruger remain skeptical, commenting that an Amazon insider is unlikely to talk to a publication such as City A.M. Kruger tweeted, 

City AM is the kind of newspaper you only read while on the tube (subway) … if your phone's battery is dead.

Why would an anonymous Amazon insider talk to them? https://t.co/izmYRGuFGM

— Alex Krüger (@krugermacro) July 26, 2021

Nonetheless, as a free and independent newspaper of London, City A.M.’s report has sparked bullish gains in crypto. The publication also found that the e-commerce giant is looking to add three other cryptocurrencies in Ethereum, Cardano, and Bitcoin Cash after Bitcoin.

The said report was published after the company posted a job listing for a digital currency and blockchain leader on Friday. Amazon, however, is yet to make any official announcement regarding its involvement with cryptocurrencies or a native digital token project. 

Disclaimer: At the time of writing, the author of this feature owned BTC and ETH.

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