After Amazon refuses to accept Bitcoin payments, the value of the cryptocurrency plummets


Amazon, the e-commerce behemoth, has denied a media claim that the business may accept Bitcoin payments before the end of the year.

According to a similar British media site, e-commerce titan Amazon would accept Bitcoin as a payment option, according to a source who did not want to be identified.

According to a Reuters article published Tuesday, an Amazon representative addressed rumors in the media, claiming that there is no particular intention to employ digital assets for payment at this time, noting that:

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true.”

Even though the site does not accept Bitcoin as payment, an Amazon spokesman stated that the company is actively researching and exploring cryptocurrencies.

Amazon Inc. hinted on Monday, July 26th, that consumers might soon be able to pay for items using cryptocurrencies, as the eCommerce behemoth is looking to hire a blockchain and digital currency specialist to its payment team.

Following Amazon‘s explanation, the price of Bitcoin has fallen from the $40K threshold. BTC has dropped 1.87 percent in the last 24 hours, according to Coinmarketcap statistics, to $37,195 at the time of writing.


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