KazPost

Kazakhstan News
Thursday, Apr 18, 2024

Amazon job ad sends Bitcoin surging to $40,000 amid payment speculation

Amazon job ad sends Bitcoin surging to $40,000 amid payment speculation

An online advertisement for a “digital currency and blockchain product lead” on Amazon.com’s recruitment website sent Bitcoin soaring by 11% today - heading towards the $40,000 mark for the first time in more than a month.
The posting, first reported by CoinDesk last week, stoked speculation that the online retail behemoth and world’s biggest company may be considering integrating crypto for payment on its vast platform.

Bitcoin rose 11% to $38,302 as of 11am in London, and earlier prices came within a few hundred dollars of reaching the $40,000 mark.

Ether and other digital currencies also advanced, bringing crypto markets back to life after months in the doldrums - driven down by a regulatory crackdown in China and concerns over the environmental toll of high-powered mining computers.

Some analysts said short covering also fuelled the gain, with almost $1billion of crypto short positions liquidated, the most since May 19, according to data from Bybt.com.

The leap did little to address lingering fears that the crypto space is too volatile to fulfil a broader role as a hedge against inflation.

Susannah Streeter, at Hargreaves Lansdown, said: ‘’When a simple job ad appears to spark resurgence in the value of Bitcoin, it shows how the crypto world is salivating for every nugget of news about the future use case for digital currencies.

“Given the might of Amazon Web Services, it isn’t surprising that the tech giant wants to be at the cutting edge of new payments technology and establishing a new digital currency is likely to be on the agenda.

“But the expectation that payment may also be accepted from the current crypto kids on the block has also led to a spike in their value. Over the past 24 hours Bitcoin has risen by 11%, Ethereum by 8% and Dogecoin by 11%.

“Crypto fans are also hanging on every word of Elon Musk and his hint that Tesla could start accepting Bitcoin again is also behind the crypto bounce.

“The suspension of Bitcoin as a means of payment for Tesla cars sent the crypto world reeling in May, but in a debate with Twitter CEO Jack Dorsey, Musk indicated that could change given mining has reached a tipping point, with much more renewable energy used instead of fossil fuels.

“The sensitivity of crypto coins and tokens remains stark, and given the uncertain landscape ahead, with central banks looking to develop their own digital coins, investors should be wary of speculating with money they can’t afford to lose.’’

Elsewhere, with last week’s searing heatwave but a memory, a dreary mood infected investors on a sluggish opening for London’s top flight.

The FTSE100 pulled out of the recent flash rally to open in the red, ahead of what will be a busy week with earnings updates from heavyweight mining and banking stocks.

Banks were among the biggest fallers, with HSBC 6.85p lower at 394.75p, Natwest down 2.9p at 196.2p, and Barclays losing 2.59p to 164.53p.

But investors were more excited about what is in store from the miners as commodity prices continue to soar.

Rio Tinto, the first to report on Wednesday, is expected to announce $22 billion of profit for the six months, roughly its total for all of 2020, Bloomberg reported. The shares gained 94.22p to 6020.22p.

Antofagasta improved 20p to 1457p, and Anglo American rose 37p to 3000.25p. Glencore and BHP were also in demand.

Richard Hunter, of Interactive Investor, said results from a host of firms, including GsK, AstraZeneca, and ITV promise to make this a “a decisive week in driving nearer term sentiment”.

The FTSE 100 was down 28.63 points to 6998.91. The FTSE 250 was 41.48 points lower at 22842.13.
Newsletter

Related Articles

KazPost
0:00
0:00
Close
It's always the people with the dirty hands pointing their fingers
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
An Ominous Shift in Warfare: Western Powers Risk War Crimes and Violate International Norms with Cluster Bomb Supply to Ukraine
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
Corruption in the European Parliament - Business as usual
UK Crypto and Stablecoin Regulations Become Law as Royal Assent is Granted
Paris Suburb Grapples with Violence as Curfew Imposed: Saint-Denis Residents Express Dismay and Anger
A Delaware city wants to let businesses vote in its elections
Alef Aeronautics Achieves Historic Milestone with Flight Certification for World's First Flying Car
Google Blocked Access to Canadian News in Response to New Legislation
French Politicians Advocate for Pan-European Regulation on Social Media Influencers
×