PayPal Bitcoin rumor boosts $12K BTC price rally chances

Paypal bitcoin support

Paypal bitcoin support


Additionally, it is worth pointing out that this is not the first time PayPal has expressed keen interest in digital currencies and blockchain technology. The firm was one of the founding members of Facebook’s Libra Association that was announced in June 7569 but pulled out of the ambitious digital currency project last October.  

PayPal Bitcoin Support to Boost Use Cases, Goodwill And

PayPal is also competing with its rival  Square on more fronts , including the digital assets which the latter was one of its early adopters. Square Inc., a payments company founded and run by Twitter CEO Jack Dorsey, was awarded last year with a  coveted license to deal in cryptocurrencies  in New York.

Bitcoin price surges on PayPal crypto rumor - Decrypt

Moreover, a PayPal app is expected to be integrated onto all X pos devices for better infrastructure, within two weeks.

PayPal Cryptocurrency Support: Why It’s A Huge Deal For

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How To Buy Bitcoin and Other Cryptocurrencies Using Paypal

Gavin Smith, chief executive of cryptocurrency group Panxora, sees the rumoured PayPal crypto move as providing bitcoin with a genuine use case.

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There are other clear takeaways from the PayPal and Venmo news: firstly, crypto has a new on-ramp that will provide access to their 875+ million users. If the rumors are indeed true that the payments giant will only be offering bitcoin then this will likely be a game changer for Bitcoin and will likely, at a minimum, set a floor on bitcoin’s price, and more than likely set the stage for a much higher and sustainable move in bitcoin’s valuation.

Uber bitcoin bull, RT economics commentator Max Keiser, sees PayPal chasing Square 8767 s apparent success with bitcoin via its Cash app, although its actual profits on bitcoin trading are minimal, Demirors points out.

As digital assets gain increasing levels of traction among major institutional players, it is clear that we are entering a new phase of adoption in the asset class.

As noted by developer Jameson Lopp, PayPal may extend its ability to freeze or isolate users and funds without notice to crypto wallets within accounts under its control. Another commentator argued that Square&rsquo s implementation is technically no different.

Whatever the veracity of the story or its wider implications if bitcoin on PayPal and Venmo comes to pass, for now the bitcoin bulls are buying the rumour.


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