Jeff Bezos has reportedly directed Amazon to accept cryptocurrencies as legal payment and industry insiders claim the e-commerce giant would start adopting the new form of transaction as early as 2022.
The crypto market spiked after leaked reports that Amazon is considering to accept Bitcoin and other popular coins as payment. However, an industry insider claims Amazon is not looking at Bitcoin but is considering to accept Shiba Inu as a form of legal transaction at the check-out.
Rumors are rife that Amazon is investigating four popular cryptocurrencies such as Shiba Inu, Matic, HOKK and AMP and would finalize only two coins as transaction on their website.
Investors of Shiba Inu have also started an online petition addressing Jeff Bezos to accept SHIB as payment method citing that it has the ''potential'' to lead the ''technological innovation'' and benefit millions around the world.
Just a few months ago, Amazon had updated a vacancy on its website for people with experience in ''leverage domain expertise in blockchain, distributed ledger, central bank digital currencies and cryptocurrency.''
Reports also state that Amazon is looking in to possibilities to start and develop its own 'Amazon coin' and would make it a part of the legal payment on the website. The e-commerce giant has remained tight-lipped about the development and has kept things under wrap.
''This isn't just going through the motions to set up cryptocurrency payment solutions at some point in the future â this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,'' said a source to City AM.
Stock and crypto analyst Del Crxpto was the first to reveal that Amazon is in line with considering Shiba Inu and other coins as a form of payment in 2022.
''Amazon denies plans to accept BTC, this is in line with my sources who say Amazon is currently investigating several projects with plans to accept crypto payments from at least 2 cryptos in 2022. So far the rumored projects I have heard are: $SHIB, $AMP, $MATIC, $HOKK,'' he tweeted.
Shiba Inu at the time of publishing was trading at $0.00000618 and is down -0.96% in the days trade. Financial analysts predict the price could rebound and rise up to 33 to 50% from its current levels.