Amazon denies report of accepting bitcoin as payment

(Reuters) – Amazon.com Inc on Monday denied a media report saying the e-commerce giant was looking to accept bitcoin payments by the end of the year.

The report bit.ly/3xb6orM from London’s City A.M. newspaper, citing an unnamed “insider”, sent the world’s biggest cryptocurrency up as much as 14.5% before it trimmed gains to last trade 6% higher at $37,684.04.

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” said a spokesperson from Amazon.

“We remain focused on exploring what this could look like for customers shopping on Amazon.”

The company on July 22 posted a job opening for a digital currency and blockchain product lead.

A growing number of companies have started to accept virtual currencies for payment, bringing an asset class shunned by major financial institutions until a few years ago closer to the mainstream.

Last week, Tesla Inc Chief Executive Officer Elon Musk said the electric-car maker will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency.

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