Bitcoin and company up strongly. Amazon will accept cryptocurrencies?

Payments in cryptocurrencies slowly cease to be surprising, but any information from a large player that it will be possible to make purchases with tokens always causes significant increases in the market. This is also the case this time - after the leak from Amazon Bitcoin valuation grows by over a dozen percent, approaching the limit of 40 thousand. USD. Other tokens also follow the "king of cryptocurrencies". Where does such euphoria come from?

The information about the involvement in the cryptocurrency market by the largest sales platform operating in the world was given by City AM, which was confirmed by a person working at Amazon in a high position. According to the latest reports of the website, first cryptocurrencies are to be admitted as one of the many payment sources, and ultimately the sales giant even wants to issue its own tokens based on blockchain technology. 

Amazon employs cryptocurrency specialists

This information seems to confirm the company's recently disclosed recruitment plans. Amazon has just announced that it wants to hire cryptocurrency and blockchain technology specialists. Sources say that it will not end up with a delicate market research and similar games that the biggest players can afford. Multibillionaire company Jeff Bezos It already has a very specific plan for accepting cryptocurrency payments and expanding the company's offer. The entire department is to deal with cryptocurrencies, the structure of which is to confirm the company's new development paths. 

Check it out: How to invest in Amazon? [Guide]

Will it start with accepting Bitcoin payments? According to the source, everything is to work by the end of this year, because it is said that Jeff Bezos himself, who sees the future in cryptocurrencies, is pushing hard on it. In the coming months, you will also be able to pay with the next, most popular tokens. They would be, among other things, first Ethereum, and Bitcoin Cash. Ultimately, shopping on Amazon will be possible with virtually all digital money available on the market, which is to be easy, cheap, safe and, above all, intuitive. In the undefined future, most transactions are to be made using cryptocurrencies. 

Amazon's own cryptocurrency

Accepting cryptocurrency payments by Amazon is not everything that the sales giant plans to change. After all, even burger bars do it, where you can pay in cryptocurrencies for years. That's why Amazon wants to go a step further. And even a few steps, and miles at that. There are plans to issue your own cryptocurrency. It is expected to see the light of day in 2022. 

Read: How to buy Bitcoin? [Guide]

Interestingly, it will not be a novelty in the company. Already in 2013, it already had its virtual currency - Amazon Coins. You could pay with it in Amazon applications, which were based on an ecosystem built on the basis of a loyalty system. This time it may be similar, but it is not difficult to imagine that shopping with your own tokens will simply be cheaper. They can also have priority implementation and other, as yet undefined benefits. 

The cryptocurrency market reacted with hyperoptimism

This information - let us emphasize that it has not yet been officially confirmed by Amazon - caused the prices of cryptocurrencies to skyrocket since Monday morning. The BTC price increased by several percent, almost hitting the 40 mark. USD, although a week ago you could easily buy Bitcoin below 30. USD each.

Bitcoin chart, D1 interval. Source: xNUMX XTB.

Other tokens followed suit. We record several dozen percent increases (in relation to fiat currencies) on many tokens and everything indicates that even such information was enough to make a positive sentiment return to the market. Question: for how long? Of course, it remains open.

[Update - 27.07.2021/XNUMX/XNUMX]

Despite the credible source of the above information, Amazon has so far denied these reports, commenting on the matter as follows:

- Regardless of our interest in the (cryptocurrency) space, the speculation that has emerged around our specific cryptocurrency plans is not true.

An Amazon spokesman also commented that the company is currently focusing only on examining what it might look like from the perspective of customers purchasing from a retail site. At the same time, the company does not rule out introducing payments in BTC in the future.