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Amazon Rules Out Possibility of Accepting Bitcoin Payments

Amazon said has no plans of accepting bitcoin payments. Credit: Onov3056 / Wikipedia / CC-BY-SA-4.0

Amazon, the American multinational technology company that focuses on e-commerce, recently ruled out the possibility of accepting payments with Bitcoin.

In an email answer to CoinDesk, a news site specializing in bitcoin and digital currencies, the tech colossus gave a negative answer, dashing the hopes of all those who had believed that the company would go ahead with such a plan.

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” Amazon noted.

”We remain focused on exploring what this could look like for customers shopping on Amazon,” the multinational added in its statement.

It all had begun a few days earlier when one of London’s most popular free newspapers that is distributed in the underground of the British capital, City A.M., reported that Amazon was mulling such a possibility.

Elon Musk Says Tesla May Start Accepting Bitcoin Again

Elon Musk, the CEO of Tesla, SpaceX, and the Boring Company, said last week that Tesla would likely return to accepting the cryptocurrency Bitcoin as payment.

The CEO had moved to ban Bitcoin due to grievances over the impact its mining process has on the environment. The cryptocurrency has since moved to implement renewable energy sources in response.

Tesla only accepted the cryptocurrency for a brief period of time beginning in March. Only two months later, in May, Musk raised an issue with the digital currency’s detrimental energy resource use and announced it would no longer be accepted as payment by Tesla.

“It looks like bitcoin is shifting a lot more towards renewables and a bunch of the heavy-duty coal plants were being used… have been shut down, especially in China,” Musk said.

“I would want to do a little more diligence to confirm that the percentage of renewable energy usage is most likely at or above 50 percent and that there is a trend towards increasing that number. Most likely the answer is that Tesla would resume accepting bitcoin.”

Although Musk’s latest comments seem to confirm that Bitcoin will return as payment at Tesla, the billionaire engineer also suggested last month that the payment would be accepted if the coin worked to meet certain energy standards.

The electric car maker had tweeted back in June that he would allow bitcoin transactions again “when there’s confirmation of reasonable (~50 percent) clean energy usage by miners with positive future trend.”

His statement had led to a rally in bitcoin which jumped above $40,600.

His post was in reply to a report in Cointelegraph, which cited Magda Wierzycka, the executive chair of South African asset manager Sygnia, as saying Musk’s recent tweets on bitcoin should have prompted an investigation by the US Securities and Exchange Commission.

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