Thursday, February 22, 2024

Amazon crypto announcement sends Bitcoin pumping

Bitcoin rose from $29,000 to about $40,000 per coin in reaction to the news, its largest growth seen all month, other coins also gained considerably.

• July 26, 2021
Cryptocurrencies used to illustrate the story
Cryptocurrencies used to illustrate the story [Photo credit: VOI]

On Monday, the cryptocurrency market was given a marked boost after retail giant Amazon revealed it was hiring an expert in the field.

Amazon put out an advertisement on its website for a “digital currency and blockchain product lead.”

“The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap. 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,” the job posting said. 

Bitcoin rose from $29,000 to about  $40,000 per coin in reaction to the news, its largest growth seen all month, other coins such as Ethereum and Dogecoin also gained considerably.

Amazon’s advertisement for a career opportunity in the cryptocurrency space has led to speculations about its payment plans, as the available position will be part of the team responsible for how Amazon’s customers pay on its platforms. 

Yahoo Finance UK reports that an Amazon spokesman said they were exploring what the cryptocurrency market would 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,” the report said. 

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Fuel pump

Economy

Petrol price increased from N257 in 2023 to N668 in 2024: NBS

NBS says the average retail price of a litre of petrol increased from N257.12 in January 2023 to N668.30 in January 2024.

Nigerian farmers

Agriculture

IFAD commences input distribution to Taraba rice farmers

IFAD began the distribution of inputs to 129 rice farmers across seven LGAs of Taraba.

Bishop Akhalamhe

States

Edo 2024: Akhalamhe emerges as ZLP governorship candidate

The governorship election has been scheduled for September 21.

SHOPS ON FIRE (Credit:vanguard)

States

Kebbi governor donates N20 million to Argungu traders after fire outbreak

On Thursday, the Kebbi government donated N20 million to traders affected by the fire outbreak at Argungu in Argungu LGA.

TRAFFIC IN ABUJA (Credit: Guardian)

Abuja

VIO to use AI to control traffic in Abuja

DRTS says it will deploy artificial intelligence around some road interjections in Abuja to manage traffic.