Bitcoin takes off 15% after rumor about Amazon adopting cryptocurrencies | finance

This Monday morning (26), bitcoin (BTC) was traded for just over US$ 39,000, its highest price in the last six weeks, also completing six consecutive days of high. Its most recent shot came late Sunday, when the cryptocurrency appreciated by 15% in a few hours, fueled by rumors that Amazon could accept the asset and other digital currencies for payments soon.


Amazon packaging (image: disclosure/Amazon)

Bitcoin hits highest price in the last six weeks

According to the price index CoinDesk, bitcoin went from a low of US$33,800 to a high of US$39,500 in the last 24 hours. Today’s wide variation has also added about $100 billion to the market value of the cryptocurrency, which, according to CoinMarketCap, capitalized approximately $730 billion this morning.

Bitcoin rises 15% in the last 24 hours (Image: Playback/CoinDesk)

Bitcoin price rises 15% in the last 24 hours (Image: Playback/CoinDesk)

The resumption of strength in cryptocurrency is mainly due to the possibility that Amazon will start accepting bitcoin soon. The rumor started from a report by Business Insider, who spoke with a company spokesman. According to him, the company “is inspired by the innovation taking place within the cryptocurrency market and is exploring how that would work at Amazon.”

Although the company has not confirmed anything, the possibility of one of the largest retailers in the world accepting bitcoin and even other cryptocurrencies is huge news for the market, naturally encouraging the purchase of the digital asset and boosting its price.

Amazon seeks digital currency expert

However, the rumor is supported by a recent job announcement. Amazon is hiring a digital currency and blockchain product leader for its payments team, according to a new post on Amazon Bobs. In addition, Amazon Web Services (AWS), the company’s cloud division, already has a managed blockchain service, which would facilitate the implementation of a digital currency payment system.

The company is looking for someone experienced to develop Amazon’s digital currency and product strategy and roadmap. “You will leverage your blockchain domain expertise, distributed ledger, central bank digital currencies (CBDCs) and cryptocurrencies to develop the necessary capabilities, drive the overview, product strategy and lead investment in new capabilities,” says the job description .

Requirements for employment include: a bachelor’s degree in a field related to the position, preferably an MBA and more than 10 years of experience in product or program management, product marketing, business development or technology. The vacancy is for the cities of Seattle and Washington, in the United States.

Bitcoin, ether, CBDCs and stablecoins are possibilities

Cryptocurrencies (Image: WorldSpectrum/Pixabay)

Cryptocurrencies (Image: WorldSpectrum/Pixabay)

As Amazon’s job advertisement points out, the possibility that the company will start accepting cryptocurrencies is real and likely. However, more details are just speculation. Since bitcoin is the biggest and best known digital currency on the market, the asset should be one of the payment options to be added. Ether (ETH), the second largest cryptocurrency in capitalization, is also a big gamble.

In addition, the job description cites central bank digital currencies, or CBDCs, indicating that Amazon wants to prepare to possibly integrate payments with state currencies such as the People’s Bank of China (PBC) digital yuan. Dollar-backed stablecoins such as Tether (USDT) are also a strong possibility. Finally, given the experience required in the job, Amazon may even be considering developing its own token.

Naturally, the speculative market for cryptocurrencies received the rumor with great enthusiasm. The same effect occurred when Tesla announced that it would release the purchase of its electric cars with bitcoin. At the time, the asset’s price rose 5% immediately after the news, reaching around US$57,000 on March 24th. The reverse also applies, as when Elon Musk’s company reversed its decision just two months after implementing it, causing a 15% devaluation in a matter of hours.

With information: Business Insider

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