Amazon Could Accept Bitcoin as a Means of Payment

One of the biggest companies on earth, Amazon, could soon accept Bitcoin as a means of payment. As reported by the German news outlet, Die Welt, rumours about this possibility are becoming bigger.

Amazon takes the lead

James Altucher, an important and respected investor, gave some hints about the internet company accepting Bitcoin. In this way, Amazon would become the first worldwide company allowing its customers to pay with the famous virtual currency.

Fintech specialists in Silicon Valley back this possibility. As reported by Die Welt, if Bitcoin is not introduced now, it will be soon. By that time, Amazon didn’t comment anything about this possibility.

“Amazon opts to include new products or services only when these are useful for customers – until that point, we do not engage in rough speculation”, answered to Die Welt a high staff from Amazon.

Big investors turning into Bitcoin

During the last weeks we have seen how bitcoin price arrived at new records. One of the reasons was the fact that Bitcoin Gold hard forkwas pushing the price up. Another reason was that institutional investors were starting to see Bitcoin not as a bubble, but as a strategic asset for the future.

Mike Novogratz supported this idea. The Wall Stree mogul commentedthat Bitcoin is the biggest bubble in our lifetime and that people should invest in it. Indeed, he has 10% of his net worth in Bitcoin and called it the “best investment” of his life.

Some companies accept Bitcoin as a means of payment

Is not the first case in which a company starts to accept payments in the virtual currency. What it is important is that such an important player in the business sphere is adopting Blockchain technology for daily transactions. Amazon reached 1trillion dollars market capitalization in June, ten times more than Bitcoin market capitalization.

Some weeks ago, Star Jets International has started to accept Bitcoin payments for private flights. The company offers flights between several airports and lets the customer choose the plane he wants.

In Japan, where Bitcoin is recognized as a currency, some companies like Peach Airlines accept Bitcoin payments. LOT, the Polish National Airlines, accepts Bitcoin too. If Amazon would start to use Bitcoin, other companies would start to adhere to it and adopt the cryptocurrency.

Only this year, Bitcoin price went up from $960 to $6200 US Dollars. Bitcoin Market Capitalization reached 100 billion dollars this year, and some experts believe that it will reach 1 trillion in the next years.

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