According to a recent report, Amazon has denied any connection between the e-commerce giant and cryptocurrencies.
The explanation comes amid growing speculation that the company would begin taking Bitcoin as a form of payment for its buyers soon.
An Amazon spokesman stated on Monday that the ongoing speculation about the company’s precise intentions for cryptocurrencies “is not true,” clarifying the company’s position on the subject.
While the company’s present objectives were made clear in the statement, it did not fully rule out the possibility of using bitcoin as a payment option in the future.
“We are continuing to investigate what this could imply for customers who buy on Amazon,” the spokesman stated. Thus, we may be able to purchase on Amazon using Bitcoins in the future, however, this will not be the case any time soon.
Amazon Denied the acceptance of Bitcoin for now
According to Amazon, the remark is in reaction to recent media rumours that suggested the company may be considering accepting Bitcoin payments for its online shopping experiences. According to the rumours, Amazon would begin taking such cryptocurrency payments before the end of the current academic year.
As a result of the speculation, Bitcoin’s market value increased by up to 14.5 per cent in one day. Other cryptocurrencies followed suit, regaining much of the ground that had been lost during the previous three months.
Previously, this knowledge was attributed to an insider, according to the report.
Of course, while the assumption has since been proven false, it did have some merit at the time, given the large number of firms that have declared ambitions to incorporate cryptocurrencies into their business strategies in the previous year.
The electric vehicle manufacturer Tesla, for example, accepted Bitcoin payments late last year before discontinuing the practice due to increased pollution caused by increased Bitcoin mining across the world.
Tesla CEO Elon Musk, on the other hand, has informed the cryptocurrency community that the firm will most likely resume Bitcoin payments in the near future. With this in mind, the objective would be to shift the bulk of bitcoin mining away from fossil fuels and toward sustainable energy sources.
Bitcoin and other cryptocurrencies are in the middle of a worldwide battle for acceptability, as conventional financial institutions and regulatory agencies have tended to be sceptical of their usage and adoption.
Despite the fact that cryptocurrencies have their own particular benefits, authorities think that the crypto sector is mostly uncontrolled and can serve as a conduit for a variety of criminal operations that are difficult to trace.