Amazon just bought three domain names related to cryptocurrency, according to reports that appeared online today.
Amazon reportedly registered the domains on Tuesday, October 31.
Any time the words “Amazon” and “cryptocurrency” are in the same sentence, it’s going to set the community buzzing. Such is the case with this news.
Some believe it’s a sign Amazon will accept bitcoin or Ethereum in the near future. Others believe it’s a sign Amazon is launching its own cryptocurrency. And there are some people who think this news means nothing, and Amazon is just protecting its brand (after all, Amazon registered AmazonBitcoin.com three whole years ago).
In any case, Amazon was caught registering three domains this past week:
Despite these new domains, Amazon insists that it has no plans to accept cryptocurrencies at this time. Amazon isn’t against cryptocurrencies: they just claim there isn’t enough demand at this point.
Last month, Amazon Pay’s VP Patrick Gauthier told CNBC that the company had no plans to accept cryptocurrencies.
Nevertheless, cryptocurrencies have been making big news the last few weeks. Bitcoin just reached an all-time high of $6,600 USD. CME Group, the world’s largest futures and derivatives exchange, just announced plans to add a bitcoin futures contract to its services. Meanwhile, Bloomberg just acknowledged that bitcoin is going “mainstream”.
It’s all looking up for bitcoin – and news that Amazon is considering accepting cryptocurrencies would bump prices even higher.
However, it seems far more likely that Amazon is just protecting its brand. If Amazon left these domains unregistered, it would be easy for a scam artist to leverage one for nefarious purposes. Domain squatters could also take advantage of the situation, holding the domains “hostage” for thousands of dollars.
Will Amazon ever accept cryptocurrencies? We have no idea. However, Amazon seems dedicated to purchasing multiple cryptocurrency-related domain names. In addition to the domains above, Amazon purchased the name, “AmazonBitcoin.com” three years ago.