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Bitcoin Tops $16,000 on PayPal Bull Run

NEW YORK — Bitcoin surpassed the $16,000 mark for the first time in nearly three years Thursday, as the market cheers PayPal’s decision to let customers use virtual currencies for purchases.

The last time bitcoin touched such a level was in January 2018, according to the tracker Coindesk. Bitcoin jumped by roughly 40% over a month through Thursday.

PayPal announced last month that it will allow customers to use cryptocurrencies to shop at 26 million associated retailers from early next year.

Investors snapped up the currency on expectations that PayPal’s 340 million global customers could potentially join the bitcoin fray. Read more…..

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India’s gross domestic product or GDP contracted 7.5 percent in the July-September period in comparison to the same period last year, according to data released by the National Statistical Office on Friday.

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