World News – GB – Bitcoin hits highest level since July 2019 after PayPal adoption


PayPal customers can use certain cryptocurrencies including Bitcoin, Ether, Bitcoin Cash and Litecoin on the platform

PayPal customers can use certain cryptocurrencies including Bitcoin, Ether, Bitcoin Cash and Litecoin on the platform

Bitcoin topped $ 13,000 for the first time since July 2019 after PayPal Holdings Inc announced it would allow customers to use cryptocurrencies

Biggest digital coin rose $ 950, or 8% during traditional New York trading hours It climbed 2% to $ 13,119 at start of Asian trading Gains among so-called alt coins were even more significant Wednesday, with Litecoin jumping over 13% and Bitcoin Cash rising over 9%

PayPal customers can buy, sell and hold cryptocurrencies such as Bitcoin, Ether, Bitcoin Cash, and Litecoin from digital wallets, as well as use virtual money to make purchases at all 26 million merchants of his network PayPal shares jumped 55% to $ 213.07, the biggest increase since May

Mike Novogratz, who heads Galaxy Investment Partners, called it on Twitter « the biggest crypto news of the year, » adding that banks will embark on a race to serve digital currencies « We crossed the Rubicon, » he said

The news sparked an exuberant response from crypto fans, who pointed to a series of recent announcements suggesting wider acceptance by old-school financial pillars Two state-owned companies – Square Inc and MicroStrategy Inc – recently stated that it has invested in Bitcoin And Fidelity Investments announced in August that it was launching its first Bitcoin fund, adding its business name and star power to the oft-maligned asset class

This new PayPal is the biggest crypto news of the year All banks will now be in a race to serve crypto We crossed paths with the rubicon people Exciting day https: // tco / hXpiJEDOb3

PayPal has announced plans to make the features available as a source of funding for purchases from its merchants around the world and soon to extend them to Venmo Merchants will be paid in traditional currencies such as dollars rather than cryptocurrencies when PayPal customers make purchases

Dan Schulman, president and CEO of the company, said in a statement that “the shift to digital forms of currency is inevitable, bringing clear benefits in terms of financial inclusion and access; efficiency, speed and resilience of the payment system; and the ability for governments to quickly disburse funds to citizens « 

Users face certain limitations on PayPal They cannot transfer coins in and out of accounts and can only keep cryptocurrencies that they have purchased on PayPal Cryptocoins held in an account cannot be transferred to other accounts, PayPal said

PayPal is entering crypto only a year after its withdrawal from the Libra Association, an effort by Facebook Inc to develop a digital currency David Marcus, who leads the initiative for Facebook, was previously chairman of PayPal

Bitcoin has had a great streak this month, increasing by around 19% in October Yet the cryptocurrency use case remains limited Data from blockchain researcher Chainalysis Inc Last year showed that hardly anyone used Bitcoin for anything other than speculation

This is in part because of its steep price swings.The coin has risen by around 75% this year, but still sits around $ 7,000 from its all-time high of around $ 20,000 set in December 2017 In March, during a sale induced by the coronavirus, it fell by 31%


World News – UK – Bitcoin hits its highest since July 2019 after PayPal adoption



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