As the bull market has started more new bullish news are coming into crypto market as days goes by. Just toaday PayPal CEO Dan Schulman said he is "very bullish" on all kinds of cryptocurrencies today, during a Web Summit event today.
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You may like PayPal or not it depends upon your perspective, personally I wont like them in crypto market as they are a centralized company always focused on how to make money money which is entering into a heavily decentralized crypto market. Heck u cant even own the crypto when u buy through PayPal u can just trade it.
But whatever the plan PayPal has, we must acknowledge the fact that PayPal entering into the crypto market helps the crypto market as a whole to become mass adoption.
Just last month On November 12, 2020, the Multi National Payment Giant announced that all its US based customers would be able to trade crypto currency on its platform and can also use it as a payment service.
One month late a survey was conducted by Mizuho Securities showed that almost one in five PayPal users in US were already started buying bitcoin through PayPal app. We are talking about people who are new to crypto, Who doesn't know abt crypto, and finally people people who are skeptic on crypto.
Initially PayPal listed Bitcoin, Ethereum, Litecoin, Bitcoincash. You can buy and sell all the above but u can't take it off to another exchange.
In today's Web summit Schulman said "I think that if you can create a financial system, a new and modern technology that is faster, that is less expensive, more efficient, that's good for bringing more people into the system, for inclusion, to help drive down costs, to help drive financial health for so many people,Over the long run, I'm very bullish on digital currencies of all kinds."
Schulman also suggested the fact that the great pandemic covid 19 also acted as a catalyst for crypto currency and its bullish trend as more people started to look for alternative money rather than involving second time in fiat currencies.
PayPal has plans to launch the crypto trading to the rest of the world in Q1 of 2021 and into its merchant platform in Q4 of 2021. It seems 2021 has more to offer for the crypto community.
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I read a headline from Paypal that is now time for cryptocurrencies.