171025 Rumor: Amazon to Accept Bitcoin

10-amazon.w1200.h630I can’t think of anything that might boost Bitcoin more than an announcement from Amazon that it now accepts Bitcoin.  Maybe, if Goldman Sachs or Wells Fargo Bank said they now traded Bitcoin for clients, that might be a bigger plus, but maybe not.  Amazon taking Bitcoin would be huge.  It makes a great deal of sense for Amazon to do that, too.

Amazon can’t be too happy about the percentages that are taken by credit card transactions, nor the increased complications associated with those transactions.  Between the fees saved by both Amazon and its customers, the reduced fraud and the added convenience of Bitcoin transactions over having customers using a credit or debit card, Paypal or checks, Amazon could benefit monetarily as well as adding a convenience for customers.

An article on Tuesday in a German paper, Die Welt, reiterated the rumor that Amazon would be announcing Bitcoin acceptance. This is not the first time this rumor has surfaced. Normally, such announcements are made during its quarterly earnings report which happens to be Thursday, October 26, 2017, after the market closes.  Currently, Bitcoin is $5660, having fallen 8.5% from its record high set just a few days earlier. Bitcoin’s current weakness is attributed to the Bitcoin Gold and the upcoming SegWit2 forks.  This could be an excellent time to make a Bitcoin investment.