Notes

Amazon is not taking cryptocurrency payments, Yet

It could be that Amazon is developing cryptocurrencies. Is it true that Amazon is creating the Bitcoin department? According to rumours, Amazon will soon have an Bitcoin section. These rumors were believed to be started by Jeff Bezos. There is a possibility that Amazon is creating their own cryptocurrency in order to boost the excitement. These rumors were supposedly spread by an insider.

Other cryptocurrencies that are not Bitcoin are also allegedly being considered by Amazon. Amazon is reportedly considering other cryptocurrency options, including Ethereum as well as cardano, bitcoin and cash. Once Amazon releases its own crypto, they will also apparently create a rewards system specifically if customers use their own coin on the site. According to an insider the project is in the final stages, and is expected to be put into place in the near future.

Because of this, the prices of cryptocurrency suddenly sky rocketed. The Bitcoin price over the last few weeks was extremely poor. After the speculation, Bitcoin's price reached $40,000, an achievement which hasn't happened since the second week of June.The rumor also resulted in Bitcoin to reach $40,000 for the first time in more than one month. This news also affected all other cryptocurrency currencies.A number of other cryptocurrency saw prices increase following the Amazon buzz about cryptocurrency. For example, dogecoin's price increased by 14%.

Are these rumors genuine?It is crucial to ask if information obtained from "insiders" can be trusted. The downside? riot blockchain shut down the website. blockchain stock was not hard to believe initially, because Amazon has made initial statements about its interest in cryptocurrency and blockchains. riot blockchain 's not surprising that Amazon would have a cryptocurrency system, as other major companies have also implemented it. Some companies that have fully committed into integrating cryptocurrency include Paypal, Tesla, and SpaceX. However, not all hope is lost because Amazon's denial was rather vague. "We were still committed to exploring this for customers who purchase from Amazon," Amazon said. Nevertheless, Bitcoin still experienced a setback from its $40,000 price to $37,500 after Amazon's immediate rebuff.

Amazon has stated they're still exploring cryptocurrency. According to Amazon the cryptocurrency market is an "permanent feature" in the future. Therefore, they were determined to be a part of. It's clear that Amazon will be using cryptocurrency-based systems in the near future. What is the reason they didn't claim that they didn't? It could be due to the fact that they have not yet confirmed the existence of a cryptocurrency system by Amazon.


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