A few days ago some rumors appeared which drew much attention and made headlines as they claimed that e-commerce giant Amazon planned to announce its plans to receive cryptocurrency payments. German newspaper Welt, as later reported by CoinTelegraph, was the first publication to share insider news about the upcoming event.
James Altucher, experienced trader and venture capitalist, wrote a newsletter, echoing the rumors, saying: “I’m certain that Amazon WILL ACCEPT bitcoin. They have no choice. And this will be the tipping point that will create massive generational wealth unlike we’ve ever seen before.”
The expert explained that he sticked to the point, that Amazon can no longer ignore bitcoin, when eBay, its biggest competitor, has already expressed interest in accepting this kind of payment. That’s why all eyes were set on Amazon.com Q3 2017 Financial Results Teleconference, however, the company didn’t confirmed the buzzes.
“This is a conference call for their earning release, nothing else,” wrote user under nickname ‘goldbug1’ on TradingView. “This happens every quarter. Now if you have ever listened or read the transcripts (and I read all the transcripts of the companies I own long term) I can guarantee without a shadow of a doubt, the questions will be, ‘how do you plan to compete with Walmart’s 30 second return policy’, ‘is Microsoft gaining on you in the cloud space’, ‘can you provide numbers on whole foods and a guide as to how it is doing’, ‘do you plan on partnering more with Kohl’s and is there a potential for an acquisition?’.”
He went on, saying: “There will be big name analysts from large banks all with a time limited question or two. Do you seriously think the Analysts from JPM is going to ask ‘do you expect to take bitcoin’, or do you really think Jeff Bezos will announce during the conference call, ‘our quarterly earnings from e-commerce grew 12%, whole foods division is up 15%, we are having a price war with Microsoft in cloud space and we are down to $1.50 per terabyte, and OHHHHH By the way, we plan on taking bitcoin!!!”
“Seriously? This is just like the Ripple conference or better yet the MCO’ conference where Visa’ somehow was going to be on their card. So don’t fall for it! Just be careful of what you read, and think before you are buying something based on rumor. You buy on fundamentals, you buy on what the chart says, but you never buy because a website looking for clicks tells you what you want to hear! ” he concluded.
Close attention to online retailers are paid by cryptocurrency enthusiasts as As Bitcoin continues to rise in value and become widely accepted. Thus, at the moment of writing its price stopped at $6,112, according to CoinMarketCap’s Index, recovering from its drop to $5,400 on Thursday after the long debated fork. Bitcoin’s restored due to abysmal performance of bitcoin gold during its first few days of open trading, CryptoCoinNews suppose, though the upcoming Amazon Q3 Teleconference also had some impact of the most popular cryptocurrency price’s growth.
Amazon can also boast its impressive numbers it gained over the last quater. The company’s shares were advancing 5.9% to $1,030.00 in after-hours trading on Thursday after the internet giant beat on the top and bottom line for the fiscal third quarter. The retailer posted adjusted earnings of 52 cents per share, trouncing consensus estimates of 3 cents per share, according to analysts surveyed by Thomson Reuters. Revenue climbed 34% year-over-year to $43.7 billion and beat analysts’ estimated $41.5 billion.