Bitcoin prices surged on speculation that Amazon might be considering accepting payments in cryptocurrency. The price of bitcoin jumped by more than 5% to $10,790 (€9,630) from a low of $10,350, according to Coindesk.

“Amazon is the  +  -  key player when it comes to crypto,” said Shane Chanel, an equities and derivatives adviser at ASR Wealth Advisers in Sydney. “If they were to accept crypto payments then I think we would see a lot more coins follow.”

Recently, CNBC tweeted that Amazon CEO Jeff Bezos had hinted at this possibility in a recent interview.

“I don’t know whether it will happen or not,” he said in an interview with TV anchor Charlie Rose aired on Dec. 2 on PBS station Thirteen/WNET New York. “But if it does happen then it will probably be a good thing.”.

The speculation that Amazon might be considering crypto

Bitcoin prices surged on speculation that Amazon might be considering accepting payments in cryptocurrency. The price of bitcoin jumped by more than 5% to $10,790 (€9,630) from a low of $10,350, according to Coindesk.

“Amazon is the  +  -  key player when it comes to crypto,” said Shane Chanel, an equities and derivatives adviser at ASR Wealth Advisers in Sydney. “If they were to accept crypto payments then I think we would see a lot more coins follow.”

Recently, CNBC tweeted that Amazon CEO Jeff Bezos had hinted at this possibility in a recent interview.

“I don’t know whether it will happen or not,” he said in an interview with TV anchor Charlie Rose aired on Dec. 2 on PBS station Thirteen/WNET New York. “But if it does happen then it will probably be a good thing.”

What does this mean for bitcoin?

Bitcoin has had a tough year with the price more than halving since it peaked at more than $19,000 in December.

The cryptocurrency has received many warnings of a bubble. For instance, the International Monetary Fund (IMF) issued a report on Oct. 11 that said bitcoin was not yet capable of being used as money due to its volatile price and risk of theft.

However, this news could be seen as an endorsement for bitcoin by Amazon’s CEO Jeff Bezos and may help stabilise the cryptocurrency’s position.

“Bezos is one of the most important people in the world,” said Bloomberg Intelligence analyst Mike McGlone. “If he says this is something that Amazon might accept, then people will view it that way.”

The future of crypto

Jeff Bezos, founder and CEO of Amazon.com, has hinted that the company may start taking cryptocurrency payments in the future. A CNBC tweet on Dec. 5 said that Bezos had hinted at this possibility in a recent interview with TV anchor Charlie Rose aired on Dec. 2 on PBS station Thirteen/WNET New York.

“I don’t know whether it will happen or not,” he said in an interview with TV anchor Charlie Rose aired on Dec. 2 on PBS station Thirteen/WNET New York, “But if it does happen then it will probably be a good thing.”

The article went on to speculate about some of the implications of this decision by Amazon, saying that it would give more credibility to the cryptocurrency market and help to stabilize prices for bitcoin and other altcoins. It also suggested that if Amazon did start accepting crypto payments it could give legitimacy to these currencies as a means of payment for goods and services from other companies too – boosting their value even further.

Conclusion

For the past year, the value of bitcoin has been in decline. But in the past week, it has seen a surge in price on speculation that Amazon might be considering accepting crypto.

It’s unclear how much of an effect this would have on bitcoin prices, but it could be a sign of a possible future acceptance of crypto by other big-name companies such as Facebook and Google, according to CNBC.

The future of crypto is still uncertain, with many experts predicting that bitcoin’s value will be back to its 2017 price of $20,000 by 2020.

The speculation that Amazon might be considering crypto is good news for bitcoin and other cryptos. This could be a sign of a possible future acceptance of crypto by other big-name companies such as Facebook and Google.

But while the future is uncertain, many experts predict that bitcoin’s value will be back to its 2017 price of $20,000 by 2020.