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. 

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