Amazon to Integrate Bitcoin and Crypto Payments By End of 2021, BTC Price Shoots to $40,000
There’s a renewed excitement and glory in the broader cryptocurrency space today! Bitcoin (BTC) has made a run up to $40,000 shooting up by more than 10% earlier today.
The Bitcoin and the crypto community cheered as the news broke out that Amazon is planning to integrate Bitcoin and crypto payments to its e-commerce platform by the end of 2021.
Well, there’s no official regarding the same from the e-commerce behemoth. However, internal sources working at Amazon have spilled the beans. It all started with Amazon publishing a job posting last Friday stating that it is looking for a product lead for its blockchain and crypto division. The job role involves designing product stagey and roadmap for Amazon’s Digital currency and blockchain division.
The job posting noted: “You will leverage your domain expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies and Cryptocurrency to develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities”.
This news was enough to create the excitement in the crypto community regarding Amazon’s entry in the space. However, an insider has revealed further more exciting details regarding Amazon’s plans.
Speaking to the City A.M website, the insider said that Amazon is “definitely” looking to launch Bitcoin and crypto payments by the end of 2021. The source went off further revealing that Amazon could launch its own token by 2022.
The source said: “This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work. It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top…”
The source also noted that the project won’t be exclusive to Bitcoin as Amazon executives are looking to integrate more cryptocurrencies from the top ten list. “Ethereum, Cardano and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online. It won’t take long because the plans are already there, and they have been working on them since 2019,” said the source.
The final stage will be creating its native crypto token. The company has been allegedly experimenting on using crypto to pay for goods and services. The source added: “This then becomes a multi-level infrastructure where you can pay for goods and services or earn tokens in a loyalty scheme. There’s little more to it, for now, but you can guarantee the Bitcoin plan will be monitored closely as opportunities with Amazon’s own version of a crypto will be explored”