Amazon on Monday denied a media report that the company was looking into accepting Bitcoin for payments at the end of the year.
London’s City A.M in its report cited an “insider” who was not named in the article. The report sent the world’s largest Cryptocurrency to nearly $40,000 on early Monday morning before trimmings gains.
“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, Reuters reported.
“We remain focused on exploring what this could look like for customers shopping on Amazon.”
Bitcoin is down 4.22% to $37,005.2 at the time of this report.
Amazon had on July 22 posted a job opening for a digital currency and blockchain product lead.
Tesla had announced it will no longer accept Bitcoin as payment due to energy and environmental concerns. However, Last week, Tesla Inc Chief Executive Officer Elon Musk last week said the electric-car maker will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.