Amazon job listing affects Bitcoin prices; hints at accepting crypto

A job listing for a digital currency and blockchain product lead was posted by Amazon earlier this week, prompting users to believe that the platform will soon be accepting cryptocurrencies. This caused the price of Bitcoin and other cryptocurrencies to rise and fall within a matter of days.

When the position was posted, Bitcoin prices surged by 14%. After being in a rut for over 6 weeks, Bitcoin climbed to $40,278.03 while Ethereum also rose by 12% and reached $2,363. 

The job listing indicated a qualified applicant with a ‘deep understanding of the cryptocurrency ecosystem and related technologies’ who will be included in Amazon’s payment acceptance and experience team when hired. 

‘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,’ reports from Insider described the job listing. 

After media reports that discussed the potential entry of Amazon into the crypto ecosystem, a spokesperson from the company denied the claims. In a statement made to Reuters, an unnamed representative said that ‘the speculation that has ensued around our specific plans for cryptocurrencies is not true.’ 

Due to these claims, the prices of Bitcoin and other cryptocurrencies decreased once again, with Bitcoin dropping by 5% and went down to $37,337.73 while Ethereum dropped by 7% and is now at $2,287.63.

Despite the statement, Amazon still expressed an interest in cryptocurrency. A spokesperson for Amazon spoke with CNN Business and discussed potential plans to explore cryptocurrencies in the future. 

‘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, and hope to bring that future to Amazon customers as soon as possible.’

As of now, there are no formal developments on Amazon’s plans to join the crypto industry. Stay up to date with the latest cryptocurrency news and updates here at BTC Post!