Jeff Bezos is ‘experimenting’ with crypto payments for Amazon, which may push Bitcoin above $70,000.
AMAZON is now “exploring” ways to accept bitcoin payments, with Apple and Tesla indicating that they would follow suit.
For this reason, Jeff Bezos’ organization is looking to hire a cryptocurrency expert. “We’re fascinated by the innovation happening in the cryptocurrency area and are exploring what this may look like on Amazon,” a representative for Mr Bezos’ business, which has a market value of $1.6 trillion, said. We believe that new technology will enable modern, rapid, and low-cost payments in the future.
“As quickly as possible, we hope to offer that future to Amazon customers.”
The value of Bitcoin and Ethereum could rise if the world’s fourth-largest firm opens up its global marketplace to cryptocurrency transactions.
“Tesla’s original announcement of accepting Bitcoin for its products helped contribute to Bitcoin reaching an all-time high in the second quarter of the year,” Greg Waisman, co-founder and COO of global payment network Mercuryo, told This website.
“Should this impact be reproduced when Amazon fully supports crypto payments, we could witness a resurgence from recent sell-offs, with prices rising to new highs not seen in months.
“If Amazon delivers on its promises before the end of the year, a top of $70,000 on a bear case instance and a $100,000 top cannot be ruled out by the end of the year.”
Currently, Amazon does not accept cryptocurrency as payment, but according to a recent job offering, this may soon change.
Amazon is looking for a “experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap,” according to the company’s payments acceptance and experience team.
“Leverage your domain expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies, and Cryptocurrency to develop the case for the capabilities that should be developed, drive the overall vision and product strategy, and gain leadership buy-in and investment for new capabilities,” according to the company.
“We’re encouraged by the innovation in the cryptocurrency space, and we’re looking into how this might play out on Amazon.”
Vechain, in addition to Bitcoin, could be a contender cryptocurrency for Amazon transactions.
The Vechain Foundation and Shopping.io, an online company that has been integrating crypto payments into e-commerce, announced a collaboration in July.
Consumers have been able to buy Vechain tokens on Amazon, eBay, and other websites since the beginning of July. “Brinkwire News in Condensed Form.”