Amazon responds to rumour that sent crypto market into frenzy

Amazon has responded to a rumour about bitcoin that helped send the market into a frenzy – before it settled back down again.

Over the weekend, speculation began that the company was looking to move into supporting bitcoin, potentially for payments. Given the extra legitimacy and promotion the move would make, it helped support the price of all cryptocurrencies, which made huge gains over Monday.

The rumours began when an amazon job listing was found that suggested the company was recruiting somebody as part of its exploration of the space. But they became even more intensive when the newspaper City AM reported that an “insider” had indicated that the company would start taking payments in cryptocurrency before the end of the year.