What will the web giant do with cryptocurrencies? Will he accept BTC, or does he not have more interest in developing his own crypto?
But what will Amazon do with Bitcoin and cryptocurrencies? The Seattle-based company founded by Jeff Bezos has positioned itself as a leader in e-commerce for over ten years.
Always at the forefront of technology, it would be normal, it would not be illogical, for Amazon to integrate a cryptocurrency payment system today.
The American giant continually seeks to meet the needs of its customers in terms of purchases and payments.
Its business generates hundreds of billions of dollars a year. This represents a much higher amount than that of the social network Facebook, which has yet had to revise its cryptocurrency project downwards.
Although the retail giant is interested in digital currencies, its spokesperson has just made a denial about the likely use of bitcoin.
A rumor that has been going around for a few months
Indeed, rumors are circulating on the internet that Amazon would accept bitcoins as a means of payment by the end of 2021.
The team of billionaire Bezos was quick to respond by affirming that the firm was refining itself with cryptocurrencies, but no details whether it was bitcoin or other electronic currencies.
To be more precise, it was the City AM website that recently published an article in which the editor announced Amazon will create its own cryptocurrency, while still allowing bitcoin payments.
However, following an interview made public via AFP, a representative of the firm insisted that this information was a lie. It is even likely that this rumor was launched only to boost the values of cryptocurrencies. She, however, clarified that the group does not cannot take an interest in this sector.
Cryptocurrencies are exploding
This rumor has attracted the attention of players in the digital currency industry.
It is Amazon's assertion of an interest in this area that has boosted cryptocurrency prices since July 2021, which boosts cryptocurrencies a bit after this year's blurring and the correction that followed. Indeed, the cryptocurrency market suffered a slight pullback after the January to March ballerina, peaking on April 14, 2021.
After the announcements of the leaders of the Amazon, Bitcoin, Cardano, ETH or even the famous Dogecoin have all recorded strong increases following these rumors.
A vacant blockchain manager position
Recently, Amazon posted a job posting that caught the attention of cryptocurrency players.
It was the sign for all crypto buyers. This is the position of head of blockchain and digital currencies. The group's aim is, depending on the offer, to recruit a product manager, whose primary missions are the development of the firm's strategy in terms of electronic currencies and its basic technology, which is the blockchain.
The Amazon spokesperson recently said of crypto questions: " The future will be built on new technologies that will make payments modern, fast and inexpensive."
As soon as possible, the e-commerce benchmark wishes to offer its customers this opportunity.
A highly supervised sector
Given the exponential growth of cryptocurrencies, regulators and authorities doubt their transparency. Therefore, enormous monitoring and control measures are currently being deployed.
This is particularly the case in China, which had to close the extraction of electronic currencies in the province of Sichuan. The latter which occupied a second place in the whole territory.
Facebook had to revise downwards its cryptocurrency plan called "Libra" that it launched 2 years ago. Thus, the management of the currency was finally assigned to an independent organization to finally become a "stable coin". Today, Mark Zuckerberg's firm uses this virtual coin that is the Diem.
Amazon will create its own cryptocurrency?
Amazon wants to invest in cryptocurrencies. However, company officials have denied that Jeff Bezos' team will accept bitcoins. It is likely that Amazon created its own cryptocurrency, like Facebook.
The electronic currencies of the moment
In terms of capitalization, Bitcoin takes first place against other cryptocurrencies. 2021 was clearly the year of Bitcoin, he recorded unprecedented records. The peak has so far been that of April 14, totaling $ 64,778. Virtual currency thus remains at 40% near the record. They estimate its growth at 11%.
The cryptocurrency market has experienced a certain deadlock following the announcements from China in May 2021. This caused all cryptos to tumble. In addition, last June, e-currency mining projects were closed in the Sichuan province.
Which leads to a considerable drop in bitcoin speculation, given that it is the second province in China where bitcoin mining is exploding the most. With these mining giants, the country offers itself over 50% of the global production of bitcoins.
Bitcoin will not be on Amazon
During "The ₿ Word", Elon Musk, CEO of Tesla, announced his desire to return to bitcoin transactions. According to him, the leading e-car firm could re-authorize bitcoin as a payment method, provided that mining digital currencies does not really depend on fossil fuels.
This turnaround (and idea for Elon Musk) makes BTC and altcoins rise again.
In contrast, mining operations are now undertaken in other countries whose electricity depends on coal, such as Kazakhstan. SpaceX's number one proposal seems an ephemeral solution.
Amazon is currently looking for a Product Manager for Electronic Currencies. However, no information was relayed about its digital currency policy.
This famous product manager is probably already in place on Amazon. It is likely that this is being analyzed, and that by next year, an Amazon cryptocurrency will emerge. An announcement that would further take off the values of cryptos.
