Amazon has denied media reports that it is planning to accept bitcoin payments by the end of 2021.

The media reports came after the e-commerce giant posted a job advert for a digital currency and blockchain product lead late last week.

Bitcoin rose 14.5 per cent on the news before stabilizing 6 per cent higher at $37,684.04.
The reports, originally published by City AM, claimed that support for other cryptocurrencies such as Ethereum, Cardano and Bitcoin Cash was also soon to be introduced and at “this entire project is pretty much ready to roll.”

Amazon’s statement sent Bitcoin down below $37,000 while rival cryptocurrencies such as Ether and Litecoin also fell.

The news comes after Tesla chief executive Elon Musk said that the car maker would start to accept bitcoin as a form of payment again when sustainability concerns regarding its energy usage are addressed.

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” said an Amazon spokesperson. “We remain focused on exploring what this could look like for customers shopping on Amazon.”

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