PayPal has announced a significant update for its business account holders in the U.S., enabling them to buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This expansion aims to provide businesses with the same cryptocurrency capabilities that have been available to individual consumers since 2020. Business owners can now engage with digital currencies, enhancing their payment flexibility.
Additionally, PayPal business accounts can transfer supported cryptocurrencies to external blockchain addresses. However, this feature is currently not available in New York State.
This move is part of PayPal’s broader strategy to increase the utility of cryptocurrencies for its users. In previous years, PayPal introduced features such as the ability to buy, hold, and sell digital currencies for personal accounts, and even launched a U.S. dollar-backed stablecoin called PayPal USD (PYUSD). The company has been steadily expanding its crypto services, aiming to integrate digital assets into mainstream business operations and offer a wider array of financial tools to its users.
With this update, PayPal aims to meet the growing demand from business owners to incorporate cryptocurrency into their financial strategies, providing them with a seamless way to transact and manage digital assets.
This development marks a pivotal moment for PayPal’s role in the adoption of cryptocurrencies in everyday business activities, potentially paving the way for broader acceptance of digital currencies in commercial transactions.
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Legendary Investor Bill Miller Makes the Case for Bitcoin (BTC) Rise to 0,000 | Altcoins Rally!
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Bill Miller, chairman and chief investment officer of Miller Value Partners, is sharing his crypto investment strategy and why he’s bullish on Bitcoin (BTC).
In a FutureProof interview, the head of the investment firm that manages $3 billion in assets describes the start of his journey as a BTC believer.
“I got involved in Bitcoin around 2013. It was trading at around $200 or so when I started buying it. Then it ran up to around $1,100 to $1,200 and then Mt. Gox collapsed. [Bitcoin] collapsed all the way back to $200 again in 2014. I began to buy it again… My average cost is about $300 [a coin].”
Miller says there are several fundamental reasons why he became an early adopter and long-term advocate of the world’s leading cryptocurrency.
“The nature of what it was trying to do, it had many different ways to win. My view was if any of those various things – it became a currency, it became a payment system, it became a non-correlated asset – any of those things, much less all of them, would lead to a very dramatic move in the underlying price.
That was also helped along by the fact that it is limited to 21 million Bitcoin and it is decentralized. It is not able to be tampered with or debased.”
From an investment standpoint, Miller says Bitcoin continues to offer a very favorable risk-reward ratio.
He’s an advocate for a small 1% to 2% portfolio allocation to BTC.
In the long run, he believes he could earn a 1000x or more return on his BTC investment, which would place Bitcoin at $300,000.
“I could make 100x of my money. I could make 1,000x, maybe more than that. I can only lose 100%… I still have it. I haven’t sold any Bitcoin… Back in the 70s and early 80s, people were talking about putting 5% of your assets in gold because it’s a hedge.
It’s an insurance policy in case inflation comes back again as it did in the 1970s. I would say that if that’s a sensible thing to do, then, certainly to have 1 to 2% of your assets in Bitcoin makes great sense here.”
The experienced investor also makes a unique case as to why Bitcoin is less risky now compared to when it was trading below $100.
“For most assets that you buy, the more they go up in price, the less value there is to be extracted out of it, and the riskier it becomes.
Bitcoin is in an unusual position of being the exact opposite of that. It was very risky when it was trading at a dollar, $5, or $10. It could have easily disappeared.”
In other trending Bitcoin News today:
Bitcoin Price Stalls at $9,300, Altcoins Rally to New Multi-Year Highs
Within the last few hours, the Bitcoin (BTC) price pushed above $9,300 after struggling to hold the $9,300–$9,400 level for the past three days.
As Bitcoin price slowly worked its way through resistance to $9,300, a handful of the top-50 altcoins posted strong double-digit gains.
Cardano (ADA) reached a new two-year high by rallying 26% to $0.13.
Chainlink (LINK) also rallied 6.11% to a new all-time high at $5.99.
VeChain (VET) was another top performer for the day with a 21.6% rally.
According to CoinMarketCap, the overall cryptocurrency market cap now stands at $271.3 billion and Bitcoin’s dominance rate is 63%.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
https://cointelegraph.com/news/bitcoin-price-stalls-at-9-300-altcoins-rally-to-new-multi-year-highs
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NORWEGIAN INVESTMENT FIRM PURCHASED $58 MILLION IN BITCOIN FOR ITS TREASURY WITH PLANS TO ADD MORE!!
💰 BlockFi: Up To $250 Bitcoin Bonus: https://blockfi.com/cryptonewsalerts
Aker ASA, a $6 billion Oslo Børs-listed holding company is set to begin investing in Bitcoin. According to a press release issued on Monday, Aker has created a new company called Seetee AS whose mission is to invest in BTC.
The newly formed Seetee will also delve into the Bitcoin mining arena while looking to forge useful partnerships with major players in the crypto space. Indeed, Seetee has reportedly entered into a collaborative agreement with Blockstream.
According to Blockstream CEO Samson Mow, the Bitcoin infrastructure firm will work closely with Seetee on its BTC mining and sidechain implementation pursuits.
Despite the Norwegian government ending electricity subsidies to BTC miners back in November 2018, Bitcoin mining activity in the country still contributes to a significant proportion of the global hash rate distribution.
Outside China, the country ranks eight in terms of global monthly hash rate according to data from the Cambridge Bitcoin Electricity Consumption Index. As previously reported by Cointelegraph, Bitfury signed an agreement with a private equity firm to upgrade the latter’s $35 million BTC mining farm.
The press statement also revealed that the new company will look to pursue investments into other firms in the crupto and blockchain arena.
Aker will provide 500 million Norwegian Krone ($58 million) in initial capitalization for Seetee with the new company holding all of its liquid investable assets in BTC. The move marks a significant departure from Aker’s usual investments in oil exploring and marine biotech sectors. Tweeting on Friday, Seetee revealed that it has already purchased 1,170 BTC.
Commenting on the rationale for exploring Bitcoin investments, Aker CEO Øyvind Eriksen remarked:
“With the launch of Seetee, the Aker Group makes another move into software and fintech. We are very excited about the industrial opportunities that will be unlocked by Bitcoin and blockchain technology, and want to contribute forcefully to that effort.”
Aker is the latest in a growing list of companies around the world investing in Bitcoin. From business intelligence outfit MicroStrategy to electronic vehicle manufacturer Tesla, and Canadian restaurant have converted cash reserves to BTC in recent months.
In other trending Bitcoin News today:
Bitcoin Closes Its Second-Best Week Ever: 5 Things to Watch in BTC This Week
Bitcoin (BTC) starts a new week on a firmly bullish note as stocks tumble and BTC managed to close the week above $50,000.
After a mixed performance last week that saw multiple tests of $46,000, buyer support is entering and BTC/USD is within 15% of all-time highs.
Coming in step with the stimulus announcement, local highs totaled $51,177 on Bitstamp. At the same time, positive investment news from China extended the supply shortage narrative, this focusing on institutional buy-ins reducing the already dwindling amount of BTC available for purchase on the market.
Despite failing to hold on Monday, the psychologically significant level did manage to remain for the weekly close, providing Bitcoin’s second-largest weekly close on record.
Analyzing trader behavior, Rafael Schultze-Kraft, co-founder and CTO of on-chain analytics resource Glassnode, forecast that a return below $46,600 is unlikely.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Today, we announced the launch of Seetee!
We are a new company in the Aker group, and will invest in exciting projects and companies throughout the #Bitcoin ecosystem.
Bitcoin is our treasury asset. Our first purchase was 1,170 BTC and our strategy is to hodl.— Seetee (@Seetee_io) March 8, 2021
BEAUTIFUL!!!
The #BTC protocol working exactly as designed. Global FOMO kicking in. $77,000 short-term incoming.$220,000 in 2021 on track. https://t.co/j3RNb9f5Tt
— Max Keiser (@maxkeiser) March 7, 2021
This support is holding nicely.
And it got stronger! We now have a wall of 1.2M $BTC that moved on-chain between $46.6k and $48.6k.
That’s 6.5% (!) of the circulating supply.I’d be surprised if we go below anytime soon.
I was long at
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WALMART ADOPTS 200 BITCOIN ATMs ACROSS THE UNITED STATES!! $290K BTC BY END OF JANUARY PREDICTION!!
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Walmart Bitcoin mass adoption is here as the retail giant has partnered with coin-cashing machine company Coinstar and crypto-cash exchange CoinMe to install 200 BTC ATMs in its stores across the U.S.
Although the pilot includes only 200 kiosks, the broader launch plans to eventually see the installation of 8,000 Bitcoin ATMs across the country, according to Bloomberg. There has been no further details on timelines as of yet.
In other trending Bitcoin News today: Crypto analyst TechDev shares a macro chart which suggest Bitcoin tops out at $290,000 by the end of January.
“Back to the macro. Update on the mind-bending gold fractal… For those unfamiliar, this marks the 54th straight week that Bitcoin has followed gold from 1970-1979. Both local topped at exactly 1.2T MC (Market Cap). If it continues, top at 290K end of January.”
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Trezor: ► http://trezor.cryptonewsalerts.net
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Back to the macro. Update on the mind-bending gold fractal…
For those unfamiliar, this marks the 54th straight week that #Bitcoin has followed gold from 1970-1979.
Both local topped at exactly 1.2T MC.If it continues, top at 290K end of January.
Will we finally deviate? pic.twitter.com/Dcyeg4EHJL
— TechDev (@TechDev_52) October 22, 2021
https://cointelegraph.com/news/200-bitcoin-atms-installed-at-walmart-with-plans-for-8000-in-total
https://www.coindesk.com/markets/2021/10/20/valkyrie-secures-go-ahead-for-bitcoin-futures-etf/
https://cointelegraph.com/news/paypal-co-founder-peter-thiel-says-he-underinvested-in-bitcoin
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