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Amazon: No, We Have No Plans to Accept Bitcoin Payments

·1-min read

Amazon has denied a British newspaper’s report that it is planning to accept bitcoin payments by the end of the year.

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” a spokesperson for Amazon told CoinDesk by email Monday. “We remain focused on exploring what this could look like for customers shopping on Amazon.”

The report earlier Monday by City A.M., which is distributed for free on the London Underground, cited a single, unnamed “insider.” Nevertheless, many cited it as one reason for the bitcoin price’s rebound after dipping below $30,000 last week.

Related: Bitcoin Declines From $40K Resistance; Support at $34K

After Bloomberg reported Amazon’s denial (on the financial data provider’s pricey terminal, but promptly signal-boosted by ZeroHedge), the price began retracing some of the day’s gains. As of this writing, it was up 7.3% on a 24-hour basis, to $37,179.24.

As the spokesperson’s comment suggests, Amazon is testing the waters, even if the reports of the company diving in were overstated.

Last week the company said it was seeking to hire a “digital currency and blockchain product lead.”

Read more: Crypto as a Payment System? Here We Go Again

Related: Bitcoin Takes a Breather as Stocks Drop, Inflation-Adjusted Bond Yields Hit Record Low

UPDATE (July 26, 23:00 UTC): Adds links to first and third paragraphs, background on Amazon recruitment at end.

UPDATE (July 26, 23:30 UTC): Adds link in fourth paragraph.

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