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Amazon mulls accepting crypto, not just bitcoin

An insider said the recent hiring of Amazon of an individual with crypto and blockchain expertise means the company is interested in accepting digital coins.

Last week, the largest online selling platform opened a job hiring with specific expertise on crypto and blockchain.

Denied

However, in another report, Amazon denied it is interested in bitcoin alone, contrary to recent reports it will begin accepting bitcoin as payment by yearend.

“Not withstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” an Amazon official said.

“We remain focused on what this could look like for customers shopping on Amazon,” the official added.

Value up

Following the recent development, prices of cryptocurrencies increased after plunging in the previous weeks, beginning May.

Bitcoin, which first benefited from the limelight of the previous news report, gained the most, reaching as much as 14.5%.

However, its gains decreased to 6% but remained higher at $37,684.04 as of Thursday.

The crypto industry has been unstable of late because of increased selloffs and the crypto’s inherent volatility.

Still gaining traction

Previously, one of the biggest social media platforms, Facebook, withdrew its plans for its Libra cryptocurrency that the company aims to make a global digital asset.

Virtual currencies continue to gain ground as more and more companies adopt digital currencies.

Just recently, Tesla chief executive Elon Musk said his company will begin to accept bitcoin again when it irons out all kinks in the crypto mining regulation.

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