Amazon denies report of accepting bitcoin as payment
Newspaper, citing an unnamed 'insider,' hiked cryptocurrency by as much as 14.5% before it pared gains to 6%
Amazon.com Inc on Monday denied a media report saying the e-commerce giant was looking to accept bitcoin payments by the end of the year.
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The report from London's City A.M. newspaper, citing an unnamed "insider," sent the world's biggest cryptocurrency up as much as 14.5% before it trimmed gains to last trade 6% higher at $37,684.04.
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"Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true," said a spokesperson from Amazon.
"We remain focused on exploring what this could look like for customers shopping on Amazon."
The company on July 22 posted a job opening for a digital currency and blockchain product lead.
A growing number of companies have started to accept virtual currencies for payment, bringing an asset class shunned by major financial institutions until a few years ago closer to the mainstream.
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Last week, Tesla Inc Chief Executive Officer Elon Musk said the electric-car maker will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency.