Connect with us

Crypto

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.

Published

on

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.

If you want to find more details about Amazon and Bitcoin, download for free the Born2Invest mobile app. Our companion app brings you the latest business headlines so you can stay on top of the market.

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.

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.

67% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

__

(Featured image by Simon via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in CRYPTO MONDAY, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

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.