Rumors Suggest that Amazon Will Accept Bitcoin
According to German newspaper Welt, as later reported by CoinTelegraph, financial technology sources in Silicon Valley are making claims about Amazon’s plans to support Bitcoin as a new payment method. These rumors are supposedly similar to a claim made by investor James Altucher last month, who said that Amazon might make a Bitcoin announcement during an earnings conference call set for October 26.
When Welt reached out to Amazon regarding the rumors, a spokesperson replied saying they do not engage in speculation but that they do “include new products or services only when these are useful for our customers.”
What is Bitcoin?
Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator. It was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledgercalled a blockchain.
Despite’s Amazon’s predictable response to the rumors, Welt writes that “Even if the Oct. 26 date is not set in stone, Bitcoin introduction should probably be expected soon.” Rumors Suggest that Amazon Will Accept Bitcoin.
It seems that we’ll have to wait to see if these rumors are true. If the retailer does reveal plans to adopt the digital currency, it’ll be one of the biggest online storefronts to do so, which could prompt others to do the same. Amazon is a business after all, and if Bitcoin could boost its performance, it will certainly make an effort to embrace it. Rumors Suggest that Amazon Will Accept Bitcoin.