Cryptocurrencies Just Got a Major Boost from PayPal

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Cryptocurrencies just got a major boost.

According to Coin Market Cap:

  • Bitcoin is now up to $12,722
  • Ethereum is up to $387.39
  • Tether is up to $1
  • XRP is nearing 26 cents
  • Bitcoin Cash is up to $258.64

All after PayPal announced it would allow customers to buy, sell, and hold Bitcoin and other cryptocurrencies using its online wallets.  Better, PayPal will allow customers to use cryptocurrencies to shop at the 26 million merchants on its network by early 2021.

“The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly,” said Dan Schulman, president and CEO, PayPal.

“Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange. We are eager to work with central banks and regulators around the world to offer our support, and to meaningfully contribute to shaping the role that digital currencies will play in the future of global finance and commerce.”

This news alone could send cryptocurrencies screaming higher with broader adoption.

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