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Jeff Bezos Instructs Amazon to Accept Bitcoin and Other Popular Cryptocurrencies: Report – Bitcoin News

Amazon reportedly plans to accept bitcoin by the end of the year, after which the company will launch support for other major cryptocurrencies. In addition, the company is exploring the possibility of launching its own cryptocurrency. “The instruction is coming from the very top … Jeff Bezos himself.”

Amazon’s Crypto Project ‘Ready to Roll’

Following news of Amazon hiring a digital currency and blockchain lead, Citi AM Publications reported that the company has plans to actually accept bitcoin and other popular cryptocurrencies.

Citing “an insider” in the company, the news outlet reported that Amazon is looking to accept bitcoin payments “by the end of the year” and that the company is also investigating its own token for 2022.

The insider claims that Amazon “isn’t going to just go through the motions of setting up a cryptocurrency payment solution at some point in the future,” adding that its crypto project is “a full, well-thought-out discussion of future mechanisms.” , is integral to how Amazon will operate.” He elaborated:

It starts with bitcoin – this is the major first phase of this crypto project, and the instruction is coming from the very top… Jeff Bezos himself.

“This whole project is pretty much ready to roll,” the insider revealed, emphasizing that “it won’t take long because the plans are already in place, and they’ve been working on them since 2019. “

Noting that the Amazon director was keen to move on to adding support for other large cryptocurrencies once bitcoin has been established as a fast and secure method of payment, he said:

Ethereum, Cardano and Bitcoin Cash will be next in line before bringing nearly eight of the most popular cryptocurrencies online.

The insider reported that in addition to accepting crypto payments, Amazon is also looking to launch its own coin. “When all these crypto ducks line up, there is another twist in Amazon’s favor to turn things even further – a native token,” she said, adding:

After a year of experiencing cryptocurrencies as a way of paying for goods, it is becoming increasingly possible that we are moving to tokens.

“It then becomes a multi-tiered infrastructure where you can pay for goods and services or earn tokens in a loyalty scheme,” she described.

Do you think Amazon will accept bitcoin by the end of the year? Let us know in the comments section below.

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