PayPal Holdings Inc (PYPL) announced that it will now give its nearly 350 million active users the ability to hold, buy, sell, and shop with Bitcoin and other cryptocurrencies directly in PayPal accounts.
PayPal noted in its press release that “The migration toward digital payments and digital representations of value continues to accelerate, driven by the COVID-19 pandemic and the increased interest in digital currencies from central banks and consumers.”
In this release, PayPal went on to say that “it plans to significantly increase cryptocurrency’s utility by making it available as a funding source for purchases at its 26 million merchants worldwide.” Read more…..
Chart of the Day
Meltem Demirors, chief strategy officer of CoinShares, on PayPal’s moves in bitcoin. With CNBC’s Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Karen Finerman and Dan Nathan.