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Amazon is looking to accept Bitcoin payments ‘by the end of the year’, and is investigating its own token for 2022, says an insider, with firms like Apple and Tesla suggesting they will follow suit.
Jeff Bezos’ company is now seeking to hire a cryptocurrency expert for this very purpose. A spokesperson for Mr Bezos’ company, which has a market capitalization of $1.6trillion, said:
“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon. We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments. We hope to bring that future to Amazon customers as soon as possible.”
“Should this impact be replicated when Amazon fully embraces crypto payments, we can begin to see a rejuvenation from the current sell-offs, and growth towards new price levels not seen in months.
“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, should Amazon make good on its promises before year-end.”
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