Beautiful Virgin Islands

Saturday, Jul 05, 2025

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

Beautiful Virgin Islands
0:00
0:00
Close
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
Trump Administration Considers Withdrawal of Funding for Hospitals Providing Gender Treatment to Minors
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
×