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.
You Might also like
-
ASSET GIANT FIDELITY VALIDATES BITCOIN MODEL THAT PREDICTS BTC PRICE RISE TO ASSET GIANT FIDELITY VALIDATES BITCOIN MODEL THAT PREDICTS BTC PRICE RISE TO $1,000,000!!,000,000!!
➡️ Tap into OPM (Other People’s Money): http://opm.cryptonewsalerts.net
The trillion-dollar asset manager Fidelity is scrutinizing a popular and controversial Bitcoin price model.
A recent report from Fidelity Digital Assets analyzes the BTC stock-to-flow ratio, which divides the amount of a commodity in circulation by the amount mined per year.
Using the correlation between an asset’s price and its S2F ratio, the pseudonymous crypto analyst PlanB has predicted that the BTC price will soar to $1 million by 2029.
Although there is a fierce debate on whether the stock-to-flow ratio is an accurate way to forecast Bitcoin’s trajectory, Fidelity says the model is a credible tool for analyzing scarce assets.
The firm says historically, the metric is a sound way to judge whether a given commodity will become a successful store of value.
“Commodities with a stock that is difficult to double due to a low rate of production relative to existing supply have historically served as superior stores of value.
Such commodities are largely used for investment purposes, and occasionally industrial uses.
On the other hand, consumable commodities that are susceptible to large increases in supply, are less effective in storing value.
In the Bitcoin Standard, Saifedean Ammous adapted stock-to-flow to compare bitcoin to commodities used for investment and consumption and the use of the metric has since expanded and even given rise to models based on the ratio.
Gold, the most resilient store of value through the ages, has the highest stock-to-flow ratio, followed by Bitcoin (today) and silver.
Following the recent halving (May 2020), the gap between the gold and Bitcoin ratio compressed.
Bitcoin’s stock-to-flow will eclipse that of gold following the next halving (2024).”
Grayscale echoes Fidelity’s assessment that commodities with high S2F ratios are typically sought after by investors.
The investment giant looks at Bitcoin to illustrate the positive correlation between an asset’s price and its S2F ratio.
“Commodities with high stock-to-flow ratios such as Bitcoin, gold, and silver have historically been utilized as stores of value.”
However, Grayscale cautions that the S2F price model does not guarantee an increase in the asset’s value.
“While it’s true that price has followed this stock-to-flow model with high correlation, the relationship may be spurious and does not take into account the requisite demand for price appreciation.”
In other trending Bitcoin News today:
BLOOMBERG PREDICTS GOLD AT $3K, BITCOIN AT $20K IN CURRENT BULL RUN!
A bullish comment on gold by a top Bloomberg Intelligence analyst could leave Bitcoin in a similar upside spell.
“Central banks essentially printing money to spur inflation is a solid foundation for the benchmark store of value,” McGlone said.
“Gold bottomed at about $700 in 2008 and peaked near $1,900 in 2011. A similar-velocity 2.7x advance from this year’s low-close near $1,470 would approach $4,000 by 2023.”
The analyst said in its June update that the cryptocurrency could hit $20,000 by the end of this year, citing increasingly favorable fundamental and technical factors.
They included its maturity as an asset, followed by its rising futures open interest and more buy-and-hold strategy among institutional investors.
“Bitcoin ended 2019 at about $7,000, near the bottom of its range, favoring a shift toward the peak. Last year, the high was about $14,000, which would translate into almost double in 2020 if rotating within the recent band,” Mr. McGlone explained.
Follow Us:
🔥 Blog/Podcast: http://CryptoNewsYes.com
🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net
🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net
🔥 Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net
🔥 Subscribe on TuneIn: http://tunein.cryptonewsalerts.net
🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes
🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net
🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net
🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net
🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: ► http://trezor.cryptonewsalerts.net
Ledger: ► http://ledger.cryptonewsalerts.net
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:
#Bitcoin Asymmetric ReturnLast 10 years (2011-2020):– 2 years negative return (2014, 2018)– 3 years [+25% -> +100%] return (2015, 2019, 2020)
– 5 years >100% return (of which 3 yrs >1000% return!) pic.twitter.com/WFatEzbG5Z
— PlanB (@100trillionUSD) August 26, 2020
The Fed, under the leadership of Jerome Powell, continues to be #Bitcoin‘s biggest booster. On Thursday, he will deliver a speech about how the Fed will begin targeting higher inflation. 🧙♂️🙏🚀https://t.co/MUXB2MRTp3
— Tyler Winklevoss (@tylerwinklevoss) August 25, 2020
Bloomberg Predicts Gold at $3K, Bitcoin at $20K in Current Bull Run
https://cointelegraph.com/news/tyler-winklevoss-says-us-fed-is-the-biggest-booster-of-bitcoin-price
Post Views: 242 -
BITCOIN PRICE CAN SKYROCKET TO $1 MILLION PER BTC ADMITS PETER SCHIFF IN REGRET FOR NOT BUYING ANY!!
💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
In a somewhat surprising turn of events, the full-time Bitcoin troll Peter Schiff acknowledged that the BTC price could have another impressive leg up by reaching $100,000 or even $1 million per BTC.
“Clearly, I wish I had bought bitcoin when I first heard about it – that was a keen mistake. Could have I put $100,000 in it – yeah, I could have. I mean, I put $100,000 in other things that turned out poorly.
I could have been one of the Bitcoin billionaires now, as obviously I knew about it early on. If I could go back in time, that’s one of the things I would do.”
Furthermore, Schiff also spoke about BTC’s potential price increases. He admitted that it’s entirely possible that it could go as high as $100,000 or even $1,000,000 per coin.
In other breaking Crypto news today: Wells Fargo files for Bitcoin fund!
Wells Fargo, one of the oldest banks in the United States, has registered a new pooled investment fund that offers its wealthy clients indirect exposure to BTC issued in partnership with NYDIG and FS Investments.
NYDIG has also partnered with JPMorgan Chase on a new Bitcoin fund this summer — just one of the megabank’s six crypto funds, through which it has been offering crypto exposure to various clients.
🔥 Subscribe on Spotify: http://spotify.cryptonewsalerts.net
🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net
🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes
🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net
🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net
🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net
🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: ► http://trezor.cryptonewsalerts.net
Ledger: ► http://ledger.cryptonewsalerts.net
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://bitcoinmagazine.com/business/wells-fargo-and-jpmorgan-both-file-for-passive-bitcoin-funds
https://cointelegraph.com/news/blackrock-etfs-hold-384-million-of-shares-in-bitcoin-mining-firms
Post Views: 180 -
JOHN MCAFEE: Bitcoin Price Could Still Hit JOHN MCAFEE: Bitcoin Price Could Still Hit $1 Million in 2020 | BTC Price Prediction Million in 2020 | BTC Price Prediction
➡️ $274 Million Secret: Larry Benedict Live Event (REPLAY)
http://trade.cryptonewsalerts.netAccording to John McAfee, the Bitcoin price is still on track to reach $1 Million despite the abysmal BTC price performance in Q4.
When asked whether his uber-bullish BTC price prediction still holds, McAfee succinctly replied: “You bet.”
In his most recent Tweet he shared:
“In 5 years BTC is up 4082.52% in last 52 weeks it’s up 129.10% in the last month it’s up 10.33% & last 5 day’s its up 1.71%. Fuck FIAT”
During his exclusive interview with U. Today, he claimed that Bitcoin (BTC) was the very first automatic deflationary currency in history, and the end of 2020 was still too far away to dismiss his forecast.
“There are only 21 million [coins] that can ever exist, and 18 million [coins] have already been mined. This leaves only 3 million left, and it will take many years to mine those 3 million coins. In the meantime, 7 million coins have been lost forever, and for every coin that’s mined, four are lost. Do you understand? This is the world’s first automatic deflationary currency.” – John McAfee
In other Cryptocurrency news today, Silk Road Darknet marketplace founder Ross Ulbricht says the Bitcoin price will skyrocket up to $100,000 in 2020.
The blogs were published based on letters he wrote in prison, using a type of market analysis known as Elliott Wave Theory.
Follow Us:
➡️ [PODCAST PROMO] Get $25 In Free CMDX Tokens from our sponsor: http://promo.cryptonewsalerts.net
🔥 Blog/Podcast: http://CryptoNewsYes.com
🔥 Subscribe on YouTube: http://CryptoNewsAlerts.net
🔥 Subscribe on iTunes: http://itunes.cryptonewsalerts.net
🔥 Subscribe on Stitcher: http://stitcher.cryptonewsalerts.net
🔥 Subscribe on TuneIn: http://tunein.cryptonewsalerts.net
🔥 Follow on Twitter: https://twitter.com/CryptoNewsYes
🔥 Join our Private Crypto FB group: ► http://fb.cryptonewsalerts.net
🔥 Join our Private Crypto Telegram group: ► http://telegram.cryptonewsalerts.net
🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net
🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: ► http://trezor.cryptonewsalerts.net
Ledger: ► http://ledger.cryptonewsalerts.net
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:
In 5 years BTC is up 4082.52% in last 52 weeks it’s up 129.10% in the last month it’s up 10.33% & last 5 day’s its up 1.71%. Fuck FIAT
— John McAfee (@officialmcafee) December 13, 2019
https://u.today/bitcoin-price-could-still-hit-1-million-in-2020-insists-crypto-baron-john-mcafee
https://cointelegraph.com/news/silk-road-darknet-marketplace-founder-btc-will-reach-100-000-in-2020
https://medium.com/@RossUlbricht/bitcoin-by-ross-end-of-a-cycle-or-room-to-run-9522fc0c67f5
Post Views: 191