PayPal demonstrates impressive achievements in its activities. Last month, the company published excellent financial results for the fourth quarter of 2020. This was mainly due to rapid growth in the application and Venmo subdivision, as well as due to the success of his new service, which allows you to buy now and pay later. " The company expects that in 2021 the pandemic will become even a great help for large profits, since Quarantine will make more consumers go to e-commerce and completely abandon cash. We tell about these and other cryptocurrency plans of the giant.
PayPal was the focus of the cryptocurrency community in October 2020. It was then that representatives of the platform announced the addition of Bitcoin, Etherium, Lightcoon and BCash to their service. Thanks to this, the playground users were able to buy coins and earn their growth.
Without criticizing innovations, it was not possible, because in essence, the ownership of the cryptocurrency with PayPal is not full. This means that the buyers are not provided with a private key - that is, a combination for managing a cryptocurrency address, and to bring a crypt for third-party addresses beyond the service limits they cannot.
Despite this, the news went to the cryptocurrency industry for the benefit. In particular, on the day of the Statement of Paypal, Bitcoin responded with an increase of up to 13 thousand dollars. And in the future, BTC began its massive growth above the historical maximum.
Growth price Bitcoin per day after the announcement of PayPalWill Paypal Bitcoin buy?
In an exclusive interview with the news publication Decrypt, Director General of Paypal Dan Schulman shared the company's plans for the future, and also touched the question of direct investment in the cryptocurrency market.
Recall, a previously mass trend on attachments in a crypt from large investors-companies launched Microstrategy and Tesla. They invested in Bitcoin huge funds. For example, at the first giant now there are 90 859 BTC, which were on average purchased for $ 24,063. At today's course, $ 47,223 dollars company savings equivalent to $ 4.29 billion. Moreover, the profit in this case is 2.11 billion dollars.
However, it is important to note here that the "fix" the MICROSTRATEGY earnings are not going. As the manager of the company Michael Sailor said earlier, this is not about earnings in this case, but about the transition to a new finance system. That is why the giant representatives intend to keep bitcoins "at least a hundred years." At least they declare about it.
According to Schulman, one of the key tasks PayPal should remain the development of its own payment infrastructure. Here is his replica in which he shares the coins on the market.
That is, here it gives to understand that cryptocurrencies - which are the "infrastructure of the new generation" will continue to be in the spotlight of the company.
Here is a record of the conversation with PayPal. We recommend to see if you perceive English by rumor and you want to deeper in what is happening inside the cryptocurrency industry.
As Dan clarified, here it is about the new department of the company, which is managed by the Advisory Council from the experts in the field of technologies, cryptocurrency and regulation. PayPal in the past also closely collaborated with Versus Casarem - former member of the Board of Directors and the founder of XAPO cryptiram, which is a legend in the environment of fans of the blockchain. According to Schulman, Casares across the management of the company for a careful study of new trends in finance.
The head of PayPal clearly did a good "homework" in the study of the main subtleties of crypto industry. In an interview, he shared the details of the testing of different platforms based on Etherium, as well as the experience of using smart contracts. That is, Paypal gives the value not only to speculation at cryptocurrency prices, but also the fundamental potential of different blocks.
True, despite this, PayPal will not buy Bitcoin directly. Dan Schulma stated about this.
And therefore, the position of the company's leadership remains conservative: Bitcoin in their eyes is an asset with too sharp price oscillations. We consider such a point of view of strange - especially with regard to PayPal allows its customers to invest in coins.
From here you can conclude that PayPal is not going to follow the example of Tesla and MicroStrategy, which previously invested in BTC large amounts of money. Instead, the company plans to "hold" free cash reserves for possible purchases of startups - including from the cryptosphere. So while the question about the arrival of PayPal is postponed to the crypton in a long box.
We hope, in the future, the situation will be corrected. Judging by the behavior of Bitcoin and other cryptocurrency since the beginning of the pandemic, these assets are very strong. And therefore, the decision does not diversify at least part of its portfolio in coins now seems more risky than to do it.
Look even more interesting in our cryptocat of millionaires. There will also be discussed and other news from the industry.
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