Extremely exciting rumors have started circulating in the cryptocurrency world today. Apparently, Amazon is considering accepting Bitcoin payments on their platform and they might start accepting them as soon as October.
This would be a smart move because it would come just in time for the winter holiday purchase craze, when people are ready to spend a lot more than usual. Black Friday deals are also coming and Amazon might have some special promotions for those who would be willing to buy using Bitcoin.
The uncomfirmed reports come from Squawker website. According to information they have, the official announcement is slated for October 26th during their scheduled earnings conference call.
This is more of a prediction than actual insider information, coming from James Altucher, who wrote an interesting analysis in a newsletter sent to his subscribers – and caught by Squawker. In the newsletter, he wrote:
I am certain that Amazon WILL ACCEPT Bitcoin. They have no choice. […] You see, eBay, Amazon’s biggest competitor, has already expressed interest in accepting Bitcoin payment. […] Look, Amazon Web Services has already been working with Digital Currency Group, one of the biggest investors in the cryptocurrency technology.
You can check out a screenshot of his newsletter on the allthepics website.
So this does sound extremely good and insanely plausible. Although, as I said, this can not be taken for granted as it is just the analysis of an expert without insider confirmation, it makes a lot of sense for the reasons stated in the newsletter.
Even more, we know that eBay is also considering Bitcoin payments, PayPal will allow merchants to receive Bitcoin payments and Google recently added the option for developers of apps on the Android platform to request Bitcoin payments.
Also, Alibaba and Aliexpress – two giant websites that more people should know about (they’re huge in China) are also rumored to start accepting cryptocurrency payments very soon.
These add up to a lot of smaller websites, e-stores and even larger institutions accepting Bitcoin payments instead of traditional metal coin. For example, you can buy luxury property in Dubai with Bitcoin, a real estate agency in Turkey is selling property for Bitcoin… and the list keeps growing.
The interesting news is seeing what effect will an official announcement have on the market. Amazon is a huge global presence – such as eBay and even Alibaba & Aliexpress (despite them not being well known to Western markets) – and them accepting Bitcoin payments might have impressive effects on the value of Bitcoin and other cryptocurencies.
For those who have already invested some money in these coins, I am sure that this is good news. For those who haven’t done so already, time seems to be ticking away. Bitcoin is still selling low, but you never know for how long…