HomeTech NewsAmazon Denies Report of Accepting Bitcoin as Fee

Amazon Denies Report of Accepting Bitcoin as Fee

Amazon on Monday denied a media report saying the e-commerce large was seeking to settle for bitcoin funds by the tip of the 12 months.

The report citing an unnamed “insider”, despatched the world’s largest cryptocurrency up as a lot as 14.5 p.c earlier than it trimmed features to final commerce 6 p.c increased at $37,684.04 (roughly Rs. 28 lakhs).

“However our curiosity within the area, the hypothesis that has ensued round our particular plans for cryptocurrencies is just not true,” mentioned a spokesperson from Amazon.

“We stay targeted on exploring what this might appear to be for patrons purchasing on Amazon.”

The corporate on July 22 posted a job opening for a digital foreign money and blockchain product lead.

A rising variety of firms have began to simply accept digital currencies for cost, bringing an asset class shunned by main monetary establishments till a couple of years in the past nearer to the mainstream.

Final week, Tesla Chief Govt Officer Elon Musk mentioned the electric-car maker will most certainly restart accepting Bitcoin as funds as soon as it conducts due diligence on the quantity of renewable vitality used to mine the foreign money. Bitcoin worth in India stood at Rs. 27.4 lakhs as of 10:30am IST on July 27.

© Thomson Reuters 2021

Enthusiastic about cryptocurrency? We talk about all issues crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Devices 360 podcast. Orbital is on the market on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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