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Amazon Set to Accept Bitcoins, Develop Crypto Strategy (Update: Story denied by Amazon)

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Flint 1760
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2021/07/26 06:48:18 (permalink)
Tom’s Hardware - Amazon Set to Accept Bitcoins, Develop Crypto Strategy  (Update:  Story denied by Amazon)
 
“While there are big companies that do accept cryptocurrencies as payments, Amazon is not one of them, perhaps because of its unpredictable volatility. Yet the company is about to change its attitude towards cryptocurrencies and even plans to develop a special cryptocurrency and blockchain strategy.
 
Indeed, Amazon has confirmed to Business Insider that it is going to accept cryptocurrencies, but did not reveal when exactly this is set to happen. 
 
What remains to be seen is how Amazon plans to mitigate volatility of cryptocurrencies like Bitcoin that can fluctuate significantly even during a week. Perhaps, the company will simply convert Bitcoins to real money quickly. Alternatively, it may attempt to make some additional profits by waiting till a digital currency goes up in price.
 
But no matter what Amazon will do with cryptocurrencies it gets as payments, the very idea that such a large retailer will accept cryptocurrencies increases their value and makes some of the holders richer.”
 
This ought to get interesting as to the capital gains tax consequences.
post edited by Flint 1760 - 2021/07/27 08:19:22


#1

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    rjohnson11
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    Re: Amazon Set to Accept Bitcoins, Develop Crypto Strategy 2021/07/26 07:14:57 (permalink)
    I didn't figure Amazon to be one to support crypto currency, but I guess times are changing.

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    #2
    XrayMan
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    Re: Amazon Set to Accept Bitcoins, Develop Crypto Strategy 2021/07/26 19:14:46 (permalink)
     
    Good for them, and their customers.

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    #3
    Flint 1760
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    Re: Amazon Set to Accept Bitcoins, Develop Crypto Strategy 2021/07/27 04:19:22 (permalink)


    #4
    cryptomasters
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    Re: Amazon Set to Accept Bitcoins, Develop Crypto Strategy (Update: Story denied by Amazo 2021/07/29 17:22:40 (permalink)
    Be nice if evga would accept crypto.
    #5
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