Of course, following the movement of cryptocurrencies, Bitcoin has risen to its highest level since July 2019 after PayPal announced that it will allow customers to use cryptocurrencies.
Bitcoin, the largest and most famous digital currency, grew by 4.9 percent and is now worth $ 12,488, Bloomberg writes.
The gains among the so-called alt coins were even higher. Litecoin jumped more than 11 percent, and Bitcoin Cash rose eight percent. PayPal users can use selected cryptocurrencies on the platform, including Bitcoin, Ether, Bitcoin Cash and Litecoin. ⠀
Many have called the news the news of the year in crypto technology, adding that banks will embark on a race to service digital currencies.
Numerous companies have invested in Bitcoin in recent months, while Fidelity has announced it is launching its first Bitcoin fund. PayPal said it plans to make these features available as a source of financing for purchases from its 26 million merchants worldwide.
The president of the company says that "the transition to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion, efficiency, speed and resilience of the payment system."
Bitcoin was in the hotline this month, rising more than 15 percent in October. However, the use of cryptocurrencies remains limited. Data from last year's Chainalysis researchers showed that few people use Bitcoin for anything other than speculation.
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