Friday, September 17, 2021

Bitcoin surges as Amazon hints at embracing cryptocurrencies.

The Takeaway:

Bitcoin surged Monday morning to as high as $39,770 per coin after a job posting from Amazon hinted that the company is considering embracing cryptocurrencies.

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Bitcoin’s surged Monday morning to as high as $39,770 per coin after a job posting from Amazon hinted that the company is considering embracing cryptocurrencies. The price of the leading cryptocurrency was last seen trading almost 11 percent higher, at $38,200 per coin, according to Coinbase data. This brings bitcoin’s price back to levels not seen since mid-June and comes after weeks of difficult trading that saw bitcoin slip briefly below $30,000 per coin last week. 

 

Other popular cryptos also rallied into the start of the week.

Other popular cryptocurrencies also rallied into the start of the week. Ethereum was up almost 8 percent, to $2,300 per coin as of 6:30 a.m., and Cardano was up about 9 percent, to $1.34 per coin. The overall crypto market surged by almost $120 billion in market cap, according to data from CoinMarketCap. The recent surge in bitcoin came after e-commerce giant Amazon posted an ad for a “Digital Currency and Blockchain Product Lead.” 

 

Amazon looks to embrace cryptocurrencies. 

“As one of the largest e-commerce companies in the world, Amazon processes billions of secure online transactions via numerous payment methods and capabilities around the globe,” Amazon’s ad says. “The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap,” it adds. According to an anonymous source within Amazon that London newspaper City A.M. quoted, the job posting is just the surface of a more committed push into the crypto space. “This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future—this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” the anonymous source told City A.M. in the article, which was published early Monday.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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