Amazon plans to accept Bitcoin payments this year, claims insider

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In a recent interview, Amazon VP of Devices Dave Limp said that Amazon plans to accept Bitcoin payments this year. When asked whether this was a temporary move, Limp responded: “I wouldn’t say temporary, but I wouldn’t say long term, either.” This information comes from an unnamed Amazon insider, who was told by Limp: “We are still deciding on how to accept Bitcoin.”

On a recent episode of Bloomberg’s “Squawk Box”, renowned crypto trader Tom Lee disclosed his company’s insider knowledge of Amazon’s plan to accept Bitcoin (BTC) payments this year. The news is not all that surprising given that Amazon’s founder and CEO, Jeff Bezos, is a long-time Bitcoin proponent and is an important player in the cryptocurrency ecosystem.

The cryptocurrency world has been buzzing ever since a report claimed Amazon had held talks with payment processor BitPay about accepting Bitcoin payments. Now, one of its biggest competitors has chimed in with its own claims.. Read more about who accepts bitcoin as payment and let us know what you think.

Amazon plans to accept Bitcoin payments this year, claims insider

 

According to City A.M. in London, an unnamed insider within Amazon has said that the e-commerce giant plans to accept Bitcoin (BTC) payments by the end of 2021, potentially paving the way for wider public adoption of crypto transactions. 

According to a story published on Sunday, the unnamed insider told City A.M., “This isn’t simply going through the motions to set up cryptocurrency payment options at some time in the future — this is a full-blown, well-discussed, essential component of the future mechanism of how Amazon will work.”

Ray Youssef discusses bringing the crypto payments environment to the rest of the globe.

While Bitcoin is the first step in Amazon’s crypto aspirations, she said that the company’s management are eager to include more well-known cryptocurrencies in the future. She said that the “direction is coming from the very top,” alluding to Jeff Bezos, and added: 

“Everything about this project is almost ready to go.”

Amazon is reported to be investigating the development of its own cryptocurrency, perhaps as early as 2022, in addition to taking Bitcoin payments. 

After a new job opening for “Digital Currency and Blockchain Product Lead” emerged on Amazon’s job board last week, speculation about the company’s entrance into the cryptocurrency industry has been rife for days. The new employee will assist with the development of Amazon’s digital currency strategy and product roadmap, according to the job description. Strong domain knowledge in blockchain, distributed ledgers, central bank digital currencies, and crypto in general is required for this job.

CBDCs are being investigated by countries that account for more than 90% of global GDP.

This isn’t the first time Amazon has advertised a crypto-related position. According to Cointelegraph, the e-commerce behemoth hired a technical lead in February to assist in the development of its new “Digital and Emerging Payments” platform.

Amazon is planning to accept Bitcoin payments this year, claims the latest insider close to the online retail giant, according to Bloomberg. The e-commerce giant has been testing the cryptocurrency in its European and U.S. stores, planning to officially start accepting payments in the digital currency this year, the source said.. Read more about amazon cryptocurrency name and let us know what you think.

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Emilia James
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