PayPal’s Exec Believes Bitcoin Will Become a Popular Payment Option

PayPal’s Exec Believes Bitcoin Will Become a Popular Payment Option

Several years ago American online payments system PayPal was one of the risk-takers who started accepting BTC. Now, the company’s executive John Rainey says that there is a high probability that in the future the king of all cryptos will become a popular payment option.

PayPal on Bitcoin’s Side?

Answering the question of the Wall Street Journal journalist Kari Paul, PayPal’s chief financial officer, in general, spoke bullishly about the most known cyber coin. In particular, Rainey said that PayPal was among the first companies to accept bitcoin. He added that the acceptance of BTC commenced in 2015 on PayPal’s division Braintree, based in Chicago.

Despite anything, the company is aware of the risks that bitcoin bears. In the Monday interview, the exec also said that currently, BTC is not a reliable currency for carrying out transactions. The reason lies in bitcoin’s volatility.

To explain that, Rainey suggested that if a person is a merchant with a 10% profit margin and starts accepting this crypto-coin, the person will not make money to meet financial obligations when bitcoin’s price declines by 15%.

Believing in BTC Bright Future

When Paul asked Rainey whether he considers that bitcoin will become a popular payment method or not, the last one hinted that there is a “very high” probability.

“The technology, there is real merit to it. I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day,” added PayPal’s Exec.

Connections Between Bitcoin and PayPal

Remarkably, just two months ago the company’s co-founder Max Levchin claimed that even though he believes that the blockchain is a revolutionary tech trend, he had not clarified for himself what his attitude towards bitcoin is.

Another interesting fact is that at the same period cyber money trading venue Coinbase listed former PayPal exec David Marcus to its board of directors.

Bitcoin Era Success Story: Teen Hits Jackpot With Crypto Trading
17-Year Old Hits The Jackpot With Cryptocurrency Trading Venture The news media has been swept up in a tornado with the latest news of a...
What Everyone Should Know About Tokenization
Blockchain tokenization is a means of digital representation of a right and can be done with the help of a ledger. This can be a right to asset...
Bitcoin’s Volatility? In 2017 BTC Was More Stable Than In Its Early Days
Despite some 30% crashes in 2017, bitcoin managed to increase by total 1,400% last year, conquering the world’s financial stage. Banks are becoming...
Stablecoin - Everything You Need to Know
What Is A Stablecoin? You must have heard of cryptocurrency which has been the recent talk of the town. Well, stablecoins are a form of...
Gold Pulls Bitcoin Investors From BTC, Says Van Eck Associates CEO
In 2017-2018 bitcoin bit gold as bait for investors. However, the situation is expected to change in 2019 as investors already hope more for the gold...
Crypto-Supporter Milne Said Bitcoin’s Only Ledger to Last 100 Years
As bitcoin continues trading approximately Twitter thread entrepreneur Alistair Milne forecasted that the upcoming cyber money bull will decide which...
Increased Supply of Altcoins Will Depress Bitcoin, Says St. Louis Fed Report
As it is known, crypto-supporters (bitcoin bulls) widely believe that the increase in the capped supply of all cyber-coins will boost bitcoin’s value...
BTC Market Cap Will Surpass $7 Trillion Gold Cap, Say Winklevoss
Recently, Tyler and Cameron Winklevoss, world-known entrepreneurs and early supporters of cryptos, have taken part in Reddit’s traded at $4,061 and...
Crypto-Community Celebrates Bitcoin’s 10th Birthday
This year’s January 3 marks a decade since the first bitcoin block was generated by Satoshi Nakamoto. Back then, in 2009, this person (or group of...
Best Bitcoin Memes in 2018: ‘Hodling’ and Crying
2018 has not been an easy year for bitcoin, not at all. Whereas it left 2017 at the price of $10,000, it started the new year in a pretty bullish...