A petition on Change.org is calling on Amazon to accept bitcoin 'ASAP' (AMZN)

pulse

June 23, 2017 5:27 PM

Petitioners on Change.org are calling on e-commerce juggernaut Amazon to accept bitcoin as payment "ASAP."

Bitcoin has been soaring to new heights, and now folks on Change.org are calling on e-commerce juggernaut Amazon to accept the cryptocurrency as payment "ASAP."

Since March 23, bitcoin has increased 159%, from a little over $1,000 to $2,700.

At least 2,100 petitioners on Change.org want Amazon to join companies such as Microsoft Overstock in accepting bitcoin as a form of payment. They also want the company to accept Litecoin, another cryptocurrency.

The petition cites the following reasons as to why it would be a good idea for Amazon to accept the two cryptocurrencies:

But Amazon might be skeptical about bitcoin, and for good reason. For starters, cryptocurrencies are known for their constant fluctuations in price. Ethereum, another cryptocurrency, flash crashed on Wednesday. It tumbled from about $296 to a low of $13 in a matter of minutes.

Many people think a price correction is on the horizon for bitcoin. Mark Cuban, the billionaire investor, took to twitter on June 6 to say he thought there is a bitcoin "bubble."

Additionally, some don't view bitcoin and other cryptocurrencies as viable. Morgan Stanley, for instance, recently said that merchants don't think cryptocurrencies have a bright future. Here's Morgan Stanley:

Other obstacles to bitcoin's future, according to the bank, include the Chinese crackdown on mining bitcoin and declining trading volumes.

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