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Amazon Denies Bitcoin Related Rumors

The Amazon rumors heated up the BTC price. In the night from July 25th to 26th, the Bitcoin price was able to show gains of 15 percent within three hours. It looked like the beginning of a real rally. Then last night, the scenario finally seemed to repeat itself. From a weekly perspective, however, the price trend remains extremely positive with a gain of 25 percent.

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The rumors about Amazon accepting bitcoin fueled the crypto market. Now there is an official statement from Amazon. The company denies that it plans to accept bitcoin as a payment method in the near future. That also affected the price of Bitcoin.

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Amazon wants to continue experimenting with cryptocurrencies

It was said that Amazon has been investigating the benefits of Bitcoin and Co. for its own company for quite some time. After a job posting for an employee with blockchain expertise went online, rumors sprouted. Subsequently, it was said that Amazon would accept BTC as a payment method.

“Regardless of our interest in this area, the speculation that has arisen around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this might look like for customers shopping on Amazon.”

That’s how an Amazon spokesperson is quoted by Reuters. So the spokesperson did not deny that Amazon is researching crypto payments. However, there is no truth to the rumors of concrete plans for implementation, he said.

Bitcoin price breaks through $40,000 mark and then falls

The Amazon rumors heated up the BTC price. During the night from July 25th to 26th, the price of Bitcoin was able to show gains of 15 percent within three hours. It looked like the beginning of a real rally. Then last night, the scenario finally seemed to repeat itself.

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The price rises rapidly from $38,400 to $40,500 – but just then comes the denial from Amazon. Within a few hours, the BTC price falls to below $37,000. Bitcoin is currently trading at around $37,150 – a drop of 3.8 percent in the last 24 hours.

From a weekly perspective, however, the price trend remains extremely positive with a gain of 25 percent. Just a few days ago, Elon Musk announced that Tesla could also accept bitcoin again. Rumors of a Bitcoin launch by Apple have also been circulating in recent weeks. Should companies like Amazon, Apple, or Tesla (again) accept Bitcoin in the long term, this should bring a decent boost. However, how much simple rumors can influence the crypto market has been shown again.

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(Featured image by Simon via Pixabay)

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Isaac Atwood is a PR and marketing consultant who has worked with respected names in the financial industry. He has also sat down in many sessions with startups aiming to become the next unicorn. Isaac loves working with CEOs, business executives, and entrepreneurs who wish to enter the following markets: artificial intelligence, cannabis, virtual reality, cryptocurrencies, robotics, wearable and smart tech, and even the much-hyped space race. He is currently managing the brand portfolio of an Asian firm planning for its IPO by the end of the year. While his engagements have taken him around the world, Isaac is proud to call Toronto his home.