Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Is Amazon planning to accept cryptocurrency soon? Or are they just defending themselves?
On October 31, Amazon registered three domains related to cryptocurrency, sparking speculation that Amazon may soon begin accepting cryptocurrency. The domains are amazonethereum.com, amazoncryptocurrency.com, and amazoncryptocurrencies.com. Amazon already owns the âamazonbitcoin.comâ domain name.
This is not the first time a rumor has circulated that Amazon will accept digital currency. A few weeks ago, there was news based on sources in Silicon Valley reporting that Amazon could soon integrate Bitcoin as a payment option. Any move to do so by Amazon, one of the most innovative and influential tech companies in the world, would have enormous consequences.
No plans to accept cryptocurrency
However, during an interview, Amazon Payâs VP Patrick Gauthier stated that Amazon does not plan to accept cryptocurrency since there is little demand. Considering that the majority of online payments are done via debit and credit cards, Gauthierâs statement sounds reasonable and convincing. Itâs possible that Amazon bought the domain names simply for defensive purposes and has no plans to accept digital currency.
Amazonâs attitude matters
Amazon may have no plan to accept cryptocurrency now, but Amazonâs attitude matters greatly. Itâs reasonable to assume that if Amazon eventually accepts cryptocurrency, the entire market could be lifted.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.