After breaching $40,000 on optimism that Amazon might imminently begin accepting cryptocurrencies as payment on its site, the price of Bitcoin has dropped back below $38,000 after a denial from the internet giant, APA reports citing Investing.com.
“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” an Amazon (NASDAQ:AMZN) spokesperson said on Monday evening.
“We remain focused on exploring what this could look like for customers shopping on Amazon.”
The exuberance came following a job advertisement for a Digital Currency and Blockchain Product Lead and London-based newspaper City AM said Amazon was looking to accept Bitcoin payments by the end of the year, citing in “insider”.
The rumours about Amazon pushed Bitcoin to its highest level since 15th June but the denial means the world’s largest cryptocurrency has returned to its recent range of between $30,000-$40,000, with a few forays either side.