Dan Schulman, CEO of PayPal, took part in an interview with CNBC today and shared details regarding PayPal’s plans to expand into crypto and why Bitcoin is so special.
A fan of Bitcoin?
During the interview on CNBC’s Squawk Box, the CEO of PayPal emphasized the adoption that crypto has had in general.
“I think they are starting to move from being less of an asset class and more of a currency. And when you start moving cryptocurrencies as a possible financing instrument, I think that strengthens its usefulness and also stabilizes it. It becomes less volatile because it can be used every day, in your purchases, “he explained.
Likewise, Andrew Ross, presenter of Squawk Box, guided the conversation to why PayPal had integrated crypto, especially Bitcoin, to its platform.
In the first place, Dan Schulman explained that, in reality, transactions are not made with crypto, or Bitcoin, but that those who have crypto in PayPal, will be able to purchase goods or services but the seller receives fiat currency.
At the moment, this service is exclusively available for the United States; Schulman assured that PayPal hopes to expand the service to the rest of the world.
Consequently, Dan Schulman is bullish on Bitcoin thanks to the adoption and usability that cryptocurrencies have proven to have.
What is the impact on Bitcoin? According to a note from Pantera Capital, PayPal is already buying 70% of the newly mined Bitcoins.
Coinbase disappoints crypto investors
A CoinTelegraph report noted that in general, Coinbase has been experiencing recurring problems at less opportune times in the crypto market.
A bug on a crypto platform is never appropriate. However, when it occurs at a time of high volatility, it can be the downfall for crypto investors.
Apparently these interruptions in the platform of the crypto exchange can prevent investors from buying or selling their cryptocurrencies.
In fact, according to CoinTelegraph, between March and November, nine problems occurred, and four of them coincided with the volatile action of Bitcoin.
Sean Lennon is a crypto fan of Bitcoin
The crypto community is already getting used to a new big-name character offering his bullish view of Bitcoin every day.
Yesterday, John Lennon’s son Sean Lennon chatted about Bitcoin during the Orange Pill podcast.
Lennon said that Bitcoin “empowers people in a way they have never had before.” In fact, he explained that Bitcoin was a light amid the chaos of 2020.
Visa sees potential in crypto too
If you have been a CryptoTrend reader for a few years, you will know that this subtitle a few years ago would have been impossible.
On Friday, a CNBC report was published where it was assured that Alfred Kelly, Visa’s CEO, sees potential in cryptocurrencies for the next few years.
“Crypto is a developing part of payments in the world,” Kelly said. You will not believe it! Kelly added that “ultimately we could see digital currencies running on the Visa network on a more regular basis,” albeit “several years from now.”
CipherTrace endangers crypto privacy
CipherTrace filed two patent applications for methods to track Monero (XMR) transactions, transactions that are designed to be untraceable as a privacy crypto. Has the nightmare come true?
The first patent is called “Probabilistic techniques and methods to track Monero.” This patent lays the foundation for developing probabilistic methods that assign numbers to Monero transactions and group potential owners.
The second patent is called “Systems and methods for investigating Monero.” The latter encompass forensic tools to track Monero transactions.
This situation has probably generated uncertainty among investors of the crypto Monero. Especially when it was believed that it was impossible. However, keep in mind that they have not been approved.
ETH 2.0 is 50% of the way to launch
Several times we have communicated in CryptoTrend the concerns of the crypto community as the days go by and the goal before the launch of ETH 2.0 looks very far away.
Now, according to data from Dune Analytics, crypto users have been able to deposit more than half the amount of Ethereum needed for the launch of ETH 2.0.
However, once again we emphasize that a minimum quantity is required and, without it, the launch will be impossible. Therefore, there is still a long way to go. You’ll make it?
In a few lines …
In the past 24 hours, Ethereum surged 4% and hit its two-year crypto high of $ 600. The price of crypto XRP has seen a 97% rise this week. Tom Fitzpatrick, Citibank manager, considers that Bitcoin may pass $ 300,000 by 2021.