Amazon is quickly putting to rest rumors the online retail giant plans to offer crypto payment services for its customers, as reported by British newspaper CityAM, which claimed to have spoken to a company insider.
- To shoot down the rumors and conjecture, an Amazon spokesperson told Coindesk.com on Monday: “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true… We remain focused on exploring what this could look like for customers shopping on Amazon.”
- Shortly after CityAM’s initial report, Bitcoin prices suddenly spiked and continued to rally over 15% from Asia trading hours on Monday to exceed US$40,000 today, July 27. The gain was Bitcoin’s largest since mid-June.
- Following the news of Amazon’s denial, Bitcoin’s price quickly dropped again. BTC is trading at US$37,112 at publishing time, still 5.5% higher than its price on Monday.
- While it may have appeared initial rumors about Amazon were related to Bitcoin’s rise, around the same time Monday, US$950 million worth of crypto shorts were liquidated — which could have had a significant impact on Bitcoin’s price as well.