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The Bitcoin and Amazon “alliance” is officially off

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This Monday, July 26, an Amazon spokesman released a rebuttal stating that the billion-dollar company has no plans regarding the implementation of Bitcoin. 

The response came because of a report earlier this month from “City A.M” newspaper, saying the e-commerce giant is planning to accept bitcoin payments by the end of 2021. Additionally, the “insider” fueling the now-false report, stated that Amazon is in the works to release its own token by 2022. 

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“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” the spokesman said.

“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” the source told City A.M.

Furthermore, after establishing a secure Bitcoin payment method for Amazon, the plans go even further. 

“Ethereum, Cardano, and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online,” they added.

Lastly, the source declares Amazon has been working on this since 2019 and the project is “pretty much ready to roll”. 

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These reports are seriously confusing, as just last week, Amazon published a job offer for “digital currency and blockchain lead.

Immediately after,  the cryptocurrency experienced a spike in its price of almost 15%, but these gains were quickly faded after the official statement from Amazon, denying the rumors. 

However the stance of giants like Amazon and Tesla, bitcoin seems to have a relatively good week compared to the extreme fluctuation of these last months.

Bloomberg’s Intelligence senior commodity strategist, McGlone, is positive and hopeful that BTC quotes may return to $60K. 

As of this week, Bitcoin’s price jumped back above $40,000 on Wednesday, finally reaching a level above the mark of $30k. Experts say that the situation seems encouraging, as long as the bulls keep the price away from another plunge.

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