After a rumour about Amazon circulates, the cryptocurrency market jumps overnight

The cryptocurrency market surged after a new rumor about an Amazon project emerged. — AFP Relaxnews

The leading cryptocurrency, Bitcoin, surged overnight reaching US$39,000 (RM165,028), a level it hasn’t reached since last June. The reason? It appears to be tied to the circulation of a rumour that Amazon is considering accepting some cryptocurrencies as payment by the end of the year.

Early last week, Bitcoin continued its slow decline, trading below the US$30,000 (RM126,945) mark. But that’s all in the past after a week in which Elon Musk, Jack Dorsey and Cathie Wood all reaffirmed their confidence in the future of crypto assets. And then came a rumour suggesting that Amazon is planning to accept payment on its platform in Bitcoin by the end of the year. The American company is even considering the possibility of creating its own currency during 2022.