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.

Our top trading bots

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.

How will Sora’s price perform after the launch of Polkaswap?
In a recent investment thesis on the coin Sora (XOR), the Cointelegraph Research team explored the current state of the DeFi industry, highlighting the...
Robinhood’s crypto business explodes in the first quarter despite GameStop controversy
Robinhood, a popular trading app targeting millennials and other inexperienced investors, has become a major hub for cryptocurrencies, offering further...
Coinbase would have earned $2B just buying Bitcoin with its seed money
The United States’ biggest crypto exchange would have made more money by simply buying and holding Bitcoin (BTC) in 2013. Data circulating on social media...
Buy more Bitcoin, analyst tells institutions as $257M in BTC leaves Gemini
Institutions should start buying Bitcoin (BTC) again, leading analyst PlanB has said as one exchange sees a fresh $250-million withdrawal.In a tweet on...
Global fashion brands reportedly considering NFT foray
Fashion giants may be the next globally recognized brands to enter the expanding NFT metaverse.According to Vogue Business, several premium fashion houses...
Here's why April may be the best month yet for Bitcoin price
The U.S. dollar is starting to weaken once again as sellers are pushing the U.S. Dollar Index (DXY) downward, which could strengthen the momentum of Bitcoin...
Ethereum derivatives lean bullish even as ETH price sits at a key support
Ether (ETH) lost the $1,750 support on March 22, which marked a 7% loss and $230 million worth of futures contract liquidations. It has been holding near...
Theta Network's token enters top 10 cryptos by market capitalization
THETA, the native token of the Theta Network — a decentralized blockchain-based video delivery network — has entered the top 10 cryptocurrencies by market...
Keep Up With October Crypto Events Checking Out This Quick Roundup
Top Crypto Market News Of October You Should Catch Up With Do you think the world is turning more crypto-crazed day by day? There’s no limit to your investments...
New Crypto Hanacoin to Be Launched on June 12
As the world is expecting four countries – South Korea, North Korea, the US, and China – to fashion a peace agreement at their Singapore meeting, new crypto...
After Relocating Its Office to Malta, Binance Opens an Account There
The international cyber-money bourse Binance has opened a bank account in Malta. This information has been recently revealed by the company’s top exec...
Ethereum Developer Left The Project
One of the leading developers of Ethereum, Yoichi Hirai, announced that the code editors are leaving the team, expressing concerns that the proposal to...
Miner WannaMine To Replace The Virus WannaCry
The EternalBlue exploit, once stolen from the US National Security Agency, continues to be used by attackers as a component of the malicious software....
Why Canada Is So Appealing To Crypto Miners
Asia keeps tying up the market of virtual money. Hence, bitcoin miners look for new places of residence for running the business. Canada is expected to...
NEO jumped by 26%
Cryptocurrency NEO became the ninth currency by market capitalization in the world, ahead of IOTA and approaching Stellar. According to the CoinMarketCap...