Amazon Has 1.55 Trillion Reasons to Start Accepting Crypto
Speculation that the company would allow cryptocurrency payments has roiled markets. Could it really happen?
Hello there, this is Spencer Soper in Seattle. The cryptocurrency markets rallied this week on a rumor: That Amazon.com Inc. would soon accept crypto as payment on its platform. Amazon said on Monday that the “speculation” about its “specific plan for cryptocurrencies is not true,” but the suggestion was enough to move billions in crypto market value.
The episode began last Thursday, when Amazon posted a job listing for a "digital currency and blockchain product lead" on its “payments acceptance” team. News reports about the listing triggered a sudden spike in the price of Bitcoin and other currencies, which didn’t fall back down to earth even after the company’s denial. Bitcoin is up about 25% since Friday, when Insider first reported the job posting.