PayPal launches cryptocurrency payments at 29 million merchants
After PayPal confirmed that it had officially launched cryptocurrency payments, the price of Bitcoin hit $60,000 on March 30.
Data shows that with details from mainstream media reports, BTC/USD hit a 10-day high on Tuesday.
PayPal will make an official announcement later in the day, when it will launch its long-awaited cryptocurrency payment feature for US customers.
Last year, the company confirmed that it caused a stir when it entered the cryptocurrency market, and finally promoted it to all users and 29 million merchants.
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This is the first time cryptocurrency can be used in a PayPal wallet in the same way as a credit or debit card.
Although PayPal will not focus solely on Bitcoin, the price of BTC reacted well to the report, surpassing the previous February all-time high of $58,300, with a transaction price of $59,200.
Looking at Binance order book data, sellers still sit between the current price and the all-time high of $61,700.
PayPal generally refers to the dividing line for cryptocurrencies. PayPal CEO Schulman described it as a legitimate source of funding.
We believe this is a transition point, where cryptocurrency has evolved from an asset class that is primarily bought, stored and sold to a legal source of funding for millions of merchants to conduct real transactions.
PayPal's longtime, skeptical official phone caller now agrees with some of bitcoin's most advanced supporters.
Statistician Willy Woo predicts a more optimistic long-term outlook this week, claiming that a single bitcoin will eventually be worth millions of dollars.
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Bitcoin can't stop the market value of gold from reaching $10 trillion. It will go beyond that, which means we will have millions of dollars per bitcoin to enter.
Peter Brandt said in comments that he has completely changed his views on Bitcoin. My thinking has changed from Bitcoin as a transaction to Bitcoin as a measure of wealth.
The BTC ceiling is unpredictable and little by little has collapsed barriers that seemed impossible and not only paypal has surrendered to the reality that represents the future, but large investors and companies have thought about the power of cryptocurrencies and have joined what a short time ago seemed crazy. The world is changing and so is the economy. @tipu curate 2
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Many of those who still do not believe whether it is profitable or not, sooner or later will realize that it is a reality, and it is as you say, everything is evolving and you have to adapt.