- Amazon says it will accept Bitcoin (BTC) as payment on its platform by the end of 2021.
- This will be followed by additional altcoins also being accepted on the platform.
- Following Bitcoin will be Ether (ETH), Cardano (ADA), and Bitcoin Cash (BCH).
Amazon says that it is ready to carry forth with its plan to integrate crypto payments onto its platform. The initiative to do so seems to have come from the head honcho himself — Jeff Bezos.
Amazon’s cryptocurrency project is ready to roll. Its first move will be to accept Bitcoin (BTC) payments by the end of 2021. The next altcoins to will follow are Ethereum (ETH), Cardano (ADA), and Bitcoin Cash (BCH), respectively.
The announcement came right after the shopping giant posted about a related job opening. In detail, the position is for a blockchain and cryptocurrency lead. While it seems like the brand is just gearing up to include the crypto market, it is not so.
It seems this new rollout won’t take too long. This is because the brand’s plan to integrate crypto payments has been underway since 2019. This is a significant reveal as this means that Amazon — the fourth largest company in the world, decided to accept cryptos before Tesla.
Tesla made the decision to accept Bitcoin as payment only this year. Moreover, Tesla eventually stopped accepting Bitcoin as a payment option. Elon Musk says it will only resume after Bitcoin adopts a more sustainable mining process.
With countries such as El Salvador using the geothermal power of its volcanoes to mine Bitcoin, perhaps Tesla will likely resume Bitcoin payments sooner rather than later. More so, the crackdowns in China are also contributing to miners looking for more sustainable solutions.
Meanwhile, it seems that the crypto market is finally on its road to recovery after the recent dip over the past few months. Most analysts are unsurprised by this fact as many expect Bitcoin to reach $100,000 by the end of this year. All in all, it seems that Amazon has picked a great time to announce its decision to soon accept crypto payments on its platform. Eventually, we may see more than just a handful of altcoins being accepted on the platform.