July 27, 2021

Amazon has denied a media report which said that the company wants to accept bitcoin payments by the end of 2021.

The report, citing an unnamed “insider,” sent the world’s largest cryptocurrency up as much as 14.5% before offsetting its gains and last trading 6% higher at $37,684.04.

A spokesperson for Amazon denied the reports while saying this could be something the company explores.

The company announced a job advertisement for a digital currency and blockchain product on July 22.

More and more companies have begun to accept cryptocurrencies as means of payment, bringing an asset class that until a few years ago was shunned by leading financial institutions closer to the mainstream.

Last week, Tesla CEO Elon Musk said the electric carmaker will most likely accept bitcoin as a currency again after conducting due diligence on the amount of renewable energy used to mine the currency.

For more information, read the original story in Reuters.