Recently Paypal started in the crypto world allowing its users to buy on its Bitcoin platform and for them to safeguard them there. Many people did not think the idea was a very good idea since they did not have control of their Bitcoin (private keys) and therefore it was not a very good idea to do so. Shortly after, Paypal allowed its customers in the United States to use their Bitcoin to make purchases, but these transactions will be executed in fiat currency, that is, in dollars. In other words, the user makes the payment in Bitcoin in the store and the store receives the payment, but in dollars.
Paypal says that by allowing the purchase of Bitcoin and subsequent use as a means of payment on its platform, it has made Bitcoin available to more people, which has helped to increase the price of this crypto asset.
Nowadays, many people see how the bad policies of their countries allow their economies to become weaker and weaker and possibly be at risk of having a strong recession. People increasingly see Bitcoin as a store of value in which they can easily invest and have control of their capital through private keys.
Do you think that Paypal could be helping the rise of Bitcoin and other cryptocurrencies in an indirect way?
Leave your answer in the comments.
