Jeff Bezos' Amazon Denies Plan to Accept Bitcoin From Customers

Jeff Bezos' Amazon Denies Plan to Accept Bitcoin From Customers

  • Amazon, an eCommerce company, has denied it is joining the list of corporations accepting bitcoin as a form of payment
  • The online marketplace owned by Jeff Bezos stated that it is interested in bitcoin, but the report of accepting the crypto by year-end is not true
  • Several companies have backed bitcoin as a form of currency in preparation for a boom in the digitalisation of global transaction

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Bad news for bitcoin investors as Amazon denied the claim that it is planning to incorporate cryptocurrency as a payment option to its eCommerce business.

Bitcoin price had gone up by 14.5% following a report by London's City A.M. newspaper that Jeff Bezos' company will be accepting the crypto in exchange for its products.

Amazon has interest, but not anytime soon

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In its reaction, Amazon said it has an interest in the cryptocurrency market, having announced it is looking for a digital currency and blockchain product lead.

Jeff Bezos' Amazon Denies Plan to Accept Bitcoin From Customers
Jeff Bezos, founder of eCommerce company, Amazon. Photo: Pradeep Gaur/Mint
Source: Getty Images

But the eCommerce giant said the news of accepting bitcoin is false, stating that it will continue to explore the value cryptocurrency will have on Amazon shoppers.

It didn't give a timeframe for incorporating bitcoin into its financial system, but Amazon said the following:

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

Companies that have supported bitcoin

Tesla, Mastercard, PayPal, are some of the world's biggest companies that have accepted bitcoin as a payment option, but Elon Musk's company has withdrawn.

Musk's stated recently that Tesla will be back to accepting the digital currency once bitcoin miners cut down on fossil fuels consumption, and increase renewable energy usage.

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Jeff Bezos makes N1.10 trillion in one day

Days after his return to earth from space, Bezos made a whopping N1.10 trillion in one day after Amazon shares skyrocketed during trading.

Before he travelled, Bezos wealth had dwindled, but he remained the richest person on earth. However, that loss did last as Bezos recovered fast.

The billionaire's wealth grew to $208.4 billion after investors confidence rose towards his eCommerce business amid the fanfare of his journey to space.

Source: Legit.ng

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Khadijah Thabit (Copyeditor) Khadijah Thabit is an editor with over 3 years of experience editing and managing contents such as articles, blogs, newsletters and social leads. She has a BA in English and Literary Studies from the University of Ibadan, Nigeria. Khadijah joined Legit.ng in September 2020 as a copyeditor and proofreader for the Human Interest, Current Affairs, Business, Sports and PR desks. As a grammar police, she develops her skills by reading novels and dictionaries. Email: khadeeejathabit@gmail.com

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