Amazon to accept Bitcoin by end of 2021 and develop own currency by 2022: Report

Amazon has plans to accept the cryptocurrency bitcoin by the end of 2021, according to an anonymously sourced report in the London newspaper City A.M. And while this is just the word of one anonymous “insider” at the Seattle-based mega-retailer, bitcoin’s price skyrocketed overnight and it’s creating a lot of buzz in the world of cryptocurrencies — a world built on little more than buzz.

“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 an article published early Monday.

The insider claims that bitcoin will be the first of roughly eight cryptocurrencies Amazon will start accepting, eventually including coins like ethereum, cardano and “bitcoin cash” in the mix. The source told City A.M. that Amazon’s crypto plans have been in motion since 2019 and it “won’t take long” for the company to accept crypto.

Amazon even has plans to develop its own cryptocurrency, according to the source. And the company might make it possible to earn rewards for paying with what the insider calls Amazon’s “native coin.”

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Source: Amazon to Accept Bitcoin by End of 2021 and Develop Own Currency by 2022: Report