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Is Amazon on its way to accepting cryptocurrency as payment?


Is Amazon creating cryptocurrency? The rumor is that Amazon is working on a Bitcoin payment system. According to some reports that Amazon's Bitcoin system will launch in 2021. blockchain penny stocks were apparently ordered by Jeff Bezos and are still in the early stages.What's more It is believed that Jeff Bezos directly ordered this cryptocurrency initiative. According to rumor-mills, Amazon also plans to create their own cryptocurrency. The rumor came from an insider who was quite confident about their claims.

Apart from Bitcoin, other well-known cryptocurrencies are said to be included in Amazon's move. This includes Ethereum Bitcoin Cash cardsano, and cardano. Once Amazon releases its own crypto, they will also apparently create a rewards system specifically if customers use their own coin on the site. The insider also said that this endeavor is actually in the last phases, and it will probably be implemented soon.

This led to cryptocurrency prices to shoot up.Although there was no evidence and speculation, it caused a massive price hike for Bitcoin. Bitcoin's price performance was quite weak for several weeks. Then, thanks to the rumor, Bitcoin's value reached $40,000, an achievement that was not seen since the second week of June.The rumor resulted in Bitcoin to surpass $40,000 for the first time in more than a month. This also had an impact on all other cryptocurrency prices.Another cryptocurrency that received price hikes after the Amazon news about cryptos was dogecoin. Dogecoin was the first cryptocurrency to see a 14% increase in value between Monday and Sunday.Dogecoin, for instance, has seen a 14% rise.Even dogecoin saw an increase of 14% following the round of rumors.

So, are the rumors true?It is crucial to determine if information gathered from "insiders" can be trusted. It was closed by Amazon.The worse news is that Amazon promptly denied the allegations. For a lot of people, the rumors are actually rather founded since Amazon has made earlier claims about their general curiosity in blockchains. The rumors were based on the fact that Amazon has expressed interest in blockchains and cryptocurrency in the past. The big names that fall into this category are Tesla, PayPal and SpaceX. The companies includePaypal, Tesla and SpaceX are but a few of the big companies who have included cryptocurrency on their list. For https://local-breaking-news.com/news/article/6adfc40855127ed412c5947fa987564d , the good news is that their announcement is a blanket statement which means the rumors could still be a possibility. According to Amazon, "we remained centered in exploring the options for customers who shop via Amazon We did not stop exploring the possibilities that customers could purchase through Amazon ." Nevertheless, Bitcoin still experienced a setback from its $40,000 price to $37,500 after Amazon's immediate rebuff.

Amazon has also told CNN Business that although they won't be seeing any Amazon cryptocurrency anytime in the near future, they'll be looking into it. Amazon said that cryptocurrency will remain a constant part of the future and that they are keen on exploring the possibilities. If this is the case, why did Amazon deny the rumors? It could simply be that the rumors don't seem to be happening anytime soon So why did they ignore the rumours?

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