Once again Bitcoin is in the midst of the announcement of PayPal in a state that marks an all-time high.
PayPal users can now hold, buy and sell their digital currencies through PayPal’s new crypto feature.
This optimistic attitude of PayPal suggests that Bitcoin will be in full swing in the coming days.
The new feature turns PayPal into a crypto currency exchange and digital wallet.
At a time when everyone is going through a difficult time, PayPal has come up with some good news to help overcome the rough wind. In recent months we have witnessed how numerous technology giants and investors have taken Bitcoin as an investment opportunity. The primary concern is to survive the inevitable banking crises and inflation.
However, the latest news about PayPal, which allows its users to buy and sell crypto currency options, overtakes all previous developments. Since the PayPal announcement was made public, the entire crypto market has been flourishing in the green zone.
No doubt it is great news for PayPal customers who have access to buy Bitcoin. In total, PayPal has about 346 million users using the payment service, and when 50% of its customers buy Bitcoin and other digital assets, the entire crypto market will reach a new all-time high.
PayPal will soon introduce the Bitcoin buy/sell function
PayPal’s entry into the crypto-currency industry is a long awaited project. In the past we have already taken a look at PayPal’s interest in crypto-currencies. The official introduction is planned for next week, and already now Bitcoin and other important crypto currencies are shooting up due to this announcement.
After the announcement reached the crypto-currency market, Bitcoin, which traded between certain barriers and did not cross the 12-kilo dollar zone, reached a peak of over $13,000 in just a few hours. PayPal is likely to become one of the most important companies adding support for digital currencies.
Recently PayPal CEO Dan Schulman said in a statement
“The transition to digital currency is inevitable and will bring clear benefits in terms of financial integration and access to finance, the efficiency, speed and resilience of the payment system, and the ability of governments to pay out funds to citizens quickly.
Our global reach, digital payment expertise, bi-directional network and strict security and compliance controls give us the opportunity and responsibility to facilitate the understanding, redemption and interoperability of these new exchange instruments.
PayPal plans to acquire crypto-oriented companies
As Invezz wrote earlier, after announcing support for Bitcoin and other virtual currencies PayPal aims to acquire large crypto currency companies that already have a huge customer base. PayPal is reportedly in talks with three major companies, including BitGo, a large crypto currency exchange company. However, official statements about this acquisition are opaque.
PayPal announcement drives Bitcoin over previous barriers
As mentioned above, the announcement of PayPal is the main reason for Bitcoin’s growth. Recently, BTC/USD has been underperforming within the $11k zone for quite some time. Besides Bitcoin, the entire crypto market is traded in the green zone. The technical aspects of substantial digital assets seem promising as the bulls continue to drive prices higher. Finally, people wondering how to buy Bitcoin with PayPal can navigate to this detailed and thorough guide.