It was just recently when rumors started spreading around Amazon’s growing interest in cryptocurrencies. Initially, there were rumors that Amazon was interested to explore the cryptocurrency industry. The firm was looking into the possibilities of making investments in cryptocurrencies and learning more about blockchain technology.
Later, reports started coming in around Amazon setting up a team responsible for looking into the crypto-blockchain space. In the beginning, these were just considered rumors as Amazon made no such statement or revealed anything of this sort publicly.
However, the rumors are starting to come to life as Amazon has officials posted vacancies for people belonging to the cryptocurrency space. The job requirement made it clear that the employees they were looking for needed to have ample experience in cryptocurrencies and blockchain technology.
The firm even posted a job vacancy for the leading person in the cryptocurrency and blockchain space. Now, more information has started coming in pertaining to Amazon’s interest in cryptocurrencies.
Just recently, an anonymous source from within Amazon has shared new information in regards to Amazon’s interest in cryptocurrencies. The informant has shared the details with City A.M., a business newspaper distributor from London.
The inside source has informed that the e-commerce giant is planning to take another step in the adoption of cryptocurrencies. According to sources, Amazon is planning to start accepting cryptocurrencies as a payment method for the acquisition of products and services through its platform.
The source has revealed that for now, Amazon has decided that it would adopt Bitcoin (BTC) as a payment method. It has been confirmed by the source that Amazon is planning to adopt Bitcoin as a payment method by the end of 2021.
If the information shared by the inside source is true, then it is going to prove very beneficial for the cryptocurrency industry. Amazon currently has almost the same size of active users as PayPal, which could boost the crypto-adoption level to a tremendously high level.
If Amazon does start accepting Bitcoin by the end of 2021, it would take the cryptocurrency adoption level to an entirely new level. Amazon has the potential of raising the user base for the cryptocurrency industry to almost 700 million in total.
Therefore, the entire cryptocurrency industry is very much hoping for Amazon to make an official announcement. This could help the cryptocurrency industry achieve a new milestone, which could set the entire crypto-verse to an entirely different course.
Ever since the information has made it to the newspaper, the price of Bitcoin has experienced a significant surge. It was on Sunday, July 25, 2021, when the information surrounding Amazon was published by the City A.M.
In the last 24-hours, Bitcoin has experienced a 12% increase in terms of its price. This is mainly because of the supporting news that comes in regards to Bitcoin.