The Bitcoin Spark
PayPal Adds Bitcoin
PayPal said buy, sell and hold features would be live within the next few weeks but for some users, the features are already available.
PayPal's service does not allow bitcoin or other cryptocurrencies to be withdrawn or deposited. Once you buy the coins, they stay in your account until you sell.
Initially, the service supports bitcoin (BTC), bcash (BCH), ether (ETH) and litecoin (LTC).
Paul Tudor Jones II speaks again about Bitcoin
Paul Tudor Jones said bitcoin's rally is just in the "first inning" and the cryptocurrency is the best inflation hedge.
The longtime trader believes the unprecedented quantitative easing from the Federal Reserve is setting the stage for inflation to make a grand comeback.
"Bitcoin has this enormous contingence of really, really smart and sophisticated people who believe in it," Jones said. "It's like investing with Steve Jobs and Apple or investing in Google early."
Merges and Acquisitions
PayPal Said to Be in Talks to Buy Crypto Firms Including BitGo.
BitGo was the first U.S. crypto firm to secure a broker-dealer approval, transfer agent registration and trust company recognition, allowing it to provide custody and record-keeping services.
Given that the mechanics of PayPal's new crypto offering would in effect make it a custodian, it would explain the company's reported interest in BitGo.
"Talks could still fall apart and PayPal could opt to buy other targets," Bloomberg quoted one of its sources as saying. BitGo CEO Mike Belshe declined to comment on the report. A email to PayPal requesting comment wasn't immediately answered.
Gradually Then Suddenly
charts/info coming from Parker Lewis via Unchained Capital
Things to Consider
Bitcoin is becoming commercialized. Custody-only platforms like Paypal and Robinhood and soon Amazon I am sure, the more likely consumers receive that.
Paypal opening up Bitcoin and Crypto to 26M global PayPal merchants, 346M active users, $222B payment volume. This is more about stablecoins and Millennial & Zoomer growth.
Watch what Square does next before the end of the year to match PayPal
Banks have no choice but to follow acting Comptroller of the Currency guidelines and start to self custody digital assets.
Watch for Amazon next👇