FILE - The Amazon logo appears in Douai, northern France on April 16, 2020. The online retailer was ideally positioned to provide books, not just for convenience but for safety, during the pandemic. (AP Photo/Michel Spingler, File)
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Amazon Debunks Accepting Bitcoin Payment

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E-commerce giant, Amazon will not be accepting cryptocurrency as payments by the end of the year as some media reports had claimed.

Amazon debunked the reports on Monday. “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” said a spokesperson from Amazon.

“We remain focused on exploring what this could look like for customers shopping on Amazon.”

Amazon is an internet-based market place that deals in books, music, movies, housewares, electronics, toys, and many other goods, either directly or as a middleman between other retailers and its millions of customers.

The company on July 22 posted a job opening for a digital currency and blockchain product lead.

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A growing number of companies have started to accept virtual currencies for payment, bringing an asset class shunned by major financial institutions until a few years ago closer to the mainstream.

Last week, Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk said the electric-car maker will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency.

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