There is no doubt that the popularity of cryptocurrencies has grown manifold, but that also leaves room for misinformation. Recently a report was in circulation in the news that USA-based e-commerce giant Amazon might start accepting Bitcoin payments from 2021. News reports further suggested that the company is also planning to develop its cryptocurrency by 2022.
The rumor mill started as Amazon’s latest job listing sought an experienced product leader to develop “Amazon digital currency and Blockchain strategy and product roadmap.” The company however denied the report, Reuters reported.
Effect on Bitcoin price
Amazon spokesperson said, “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this could look like for customers shopping on Amazon.” The company’s denial sent Bitcoin tumbling below $37,000 while rival coins including Ether and Litecoin also fell.
A growing number of companies have started to accept virtual currencies for payment, bringing an asset class shunned by major financial institutions. Last week, Tesla Inc Chief Executive Officer Elon Musk said the electric-car maker will most likely restart accepting Bitcoin as payment once it conducts due diligence on the amount of renewable energy used to mine the currency.