Amazon: what would happen if started accept BTC

Last Sunday, July 25, 2021, the American e-commerce company reportedly planned to join to world of cryptocurrencies and blockchains. The rumors came from two notifications concerning the company:

1. Job offer “Digital Currency and Blockchain Product Leads” published on the official Amazon website.
2. An interview with a source familiar with the situation in Amazon, who said that the company was really trying to allow payments by BTC until the end of the year.

The rumors were immediately rejected by an Amazon spokesman, who did not rule out the company’s interest in the cryptocurrency sector, but also said Amazon did not have specific plans for cryptocurrencies.

Since Sunday, the price of BTC has risen sharply. After fluctuating at $ 32,000, exactly from Monday after this report from Amazon, the pump reached $ 40,000, which has not happened since mid-June. Pure coincidence? The fact remains that, despite speculation about what was claimed about Amazon and BTC, the price of BTC has now moved up.

What would happen if Amazon started accept BTC

In the light of what has happened, observers and consultants point out that Amazon is actually researching the cryptocurrency market, which could trigger a $ 1.55 trillion market movement.

In fact, Amazon would not be the first large company to accept cryptocurrencies. But hiring one person out of 1.27 million employees worldwide may not indicate an initiative that should be just around the corner. However, Amazon’s interest seems to be seen as a signal that digital currencies could one day shift from marginal investments to common financial instruments such as cash and credit cards.

BTC and cryptocurrencies are actually accepted as assets and seen as an alternative to stocks or gold. However, the introduction of BTC as a means of payment on Amazon would be the greatest masterpiece. In that regard, Spencer Soper of Bloomberg commented as follows:

“Company [Amazon] could set the standard for others, as it did years ago with delivery within two days. One billion in quarterly revenue could become billions in cryptocurrencies. “

However, Nic Carter, general partner of Castle Island Ventures, an investor in blockchain startups, said:

“Using BTC to buy a laptop on Amazon.com can cause an accounting problem for shoppers, who will have to consider taxes on capital gains when claiming their cryptocurrencies. Unless Congress adopts a small tax exemption for small transactions, I don’t think the cryptocurrency would be caught as a means of payment. “