Bitcoin on Wednesday rose above $40,000 for the first time since mid-June.
Gatekeepers News reports that the price of the cryptocurrency traded 7.1 percent higher, reaching $40,606 as of 1:12p.m, according to data obtained from coinmarketcap.com.
The last time Bitcoin traded above $40,000 was June 14, 2021.
The increase follows reports that Amazon is planning to accept bitcoin payments by the end of the year.
A British newspaper report that the multinational tech company was examing the possibilities of developing its token.
Amazon has, however on Monday, dismissed the speculations about its plans for cryptocurrencies.
“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” a spokesperson from Amazon said.
“We remain focused on exploring what this could look like for customers shopping on Amazon.
Gatekeepers News reports that the Chief Executive Officer of Tesla, Elon Musk revealed details of his crypto holdings last week which caused the price of Bitcoin to edge up above $32,000.
He also said Tesla is “likely” to start accepting Bitcoin as a payment method again.
“I wanted a little bit more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50%, and that there is a trend towards increasing that number, and if so, Tesla would resume accepting Bitcoin,” he had said.
