Bitcoin soared 12.5% to nearly $40,000 on Monday amid speculation that Amazon plans to start accepting cryptocurrencies for payments.
Bitcoin briefly surged above $39,000, its highest price since mid-June, while Ether and other digital currencies also rose.
The rally followed mounting rumors about Amazon’s crypto plans, triggered by last week’s discovery of a job ad for a “Digital Currency and Blockchain Product Lead” at the company.
“The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap,” reads the posting.
Days later, an unnamed Amazon insider told news outlet City AM that the retail giant will accept Bitcoin payments “by the end of the year.”
The source said Amazon was also considering accepting other cryptocurrencies — and launching its own token in 2022:
It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.
She added that Amazon has been working on the plans since 2019 and that the project “is pretty much ready to roll.”
If the speculation comes to fruition, it could be a huge boost to the mass adoption of cryptocurrencies. Amazon’s acceptance of Bitcoin could introduce countless new people to crypto and accelerate mainstream use of digital assets.