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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BITCOIN IS AN ‘INSURANCE POLICY’ AGAINST THE FED SO EXPECT A #post_titleM BTC PRICE WARNS CRYPTO BILLIONAIRE!
➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net
Former Facebook executive-turned Bitcoin billionaire venture capitalist, Chamath Palihapitiya, has warned neither Biden nor Trump will help U.S. dollar – but holding BTC is an “insurance policy” that helps him to “sleep soundly at night.” “
The reality is that [the Federal Reserve and the U.S. Treasury] have printed so much money that the likelihood is that we’re going to continue to see asset price inflation independent of who’s in the White House,” Palihapitiya told CNBC’s Squawk Box this week, adding he holds bitcoin just “in case the central banks and governments of the world step on a landmine.”
The Fed and the Treasury have embarked on massive stimulus programs this year, injecting trillions of dollars in the financial system in an attempt to offset the economic damage caused by the coronavirus pandemic.
This unprecedented intervention, propelling the stock market to record highs even as unemployment has spiked and businesses struggle nationwide, has sparked fears among some investors that a severe bout of inflation is on the way.
Palihapitiya, who began his VC career while still at Facebook in 2011 and has backed the likes of big data analytics firm Palantir and Richard Branson’s space exploration company Virgin Galactic, has long argued Bitcoin serves as a long-term store of value and should be included in every investors’ portfolio.
“I still think that what I talked about sort of eight or nine years ago still holds, which is as a 1% hedge in our portfolio.” Chamath, who purchased 1,000,000 Bitcoin’s back in 2013 at about $80 per BTC says he expects the Bitcoin price to climb as high as $1 million per coin over the next 20 years.
However, Palihapitiya warned against the buying and selling of bitcoin for short-term profit, advising investors to hold it and “hope that you never need it because the amount of actual chaos that will drive bitcoin appreciation is not something we actually really want to see.”
“The reality is [bitcoin’s] fundamentally not [correlated with stock markets] because it is underpinned by a set of beliefs that are completely orthogonal to the orthodoxy that runs the world today, and it is completely the inverse of how the financial infrastructure of the world operates,” Palihapitiya said.
In other trending Bitcoin News today:
Crypto Strategist Who Called Bitcoin’s Massive Collapse in 2018 Says BTC Poised to Flash Major Buy Signal
A veteran commodities trader known for accurately predicting Bitcoin’s epic fall from $20,000 says that the leading cryptocurrency is on the cusp of flashing a major buy signal.
Peter Brandt, CEO of trading firm Factor Trading Co., is sharing a chart that shows the crypto king is poised to break out of a symmetrical triangle dating back to 2017.
BTC now needs to close out the week above the $11,100 mark for confirmation.
Brandt cites large Bitcoin purchases from payments giant Square and business intelligence company MicroStrategy as significant fundamental factors driving Bitcoin’s price.
Collectively, the two companies have bought $500 million worth of Bitcoin within the last month.
“It is a major development that a global corporation is now putting BTC onto its balance sheet. The weekly and daily charts a poised to flash a big buy signal.”
Back in January, Brandt said Bitcoin could surpass $100,000 in its current long-term cycle.
However, as the COVID-19 pandemic continues to hit financial markets, the veteran technical trader revealed last month that he exited the crypto market and moved his assets to the US dollar.
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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.
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Who Is Satoshi Nakamoto? Bitcoin Dumps 7% After 50 BTC Transaction | Ethereum Dangerous To Own?
➡️ TEEKA TIWARI – Investment of the Decade: http://2020.cryptonewsalerts.net
Who Is Satoshi Nakamoto? Rounding Up The Usual Suspects After Today’s 50 Bitcoin Transaction
BTC sustained a strong 7% drop ($9,800 to $9,100) on Wednesday after trading in a holding pattern around $9,800 for multiple days in succession.
The leading crypto’s drop coincided with news that one of the first few thousand Bitcoin addresses just made its first transaction.
The address involved is from February 2009 — and the 50 coins that were sent from the address were obtained by mining one BTC block.
Due to how close the address’ “birthday” was to the launch of the Bitcoin network, many were quick to speculate that this transaction was “Satoshi dumping his coins.”
As the pseudonymous cryptocurrency creator owns over a million coins, the aforementioned drop ensued.
While the theory has since been disproven, a prominent cryptocurrency and blockchain investor says that the pretense of Bitcoin’s drop exposes holes in the investment case for most altcoins, especially Ethereum.
When Bitcoin dropped on Wednesday, so did the rest of the cryptocurrency market. Ethereum, XRP, and the rest of the usual suspects posted losses identical to the market leader.
Chief investment officer of crypto fund Arca, Jeff Dorman, postulated in the wake of the drop that the fact “that all large-cap tokens fell too” indicates “most digital assets are not necessary to own.
Dorman added that it was “particularly damaging for ETH today.” Adding to the fundamental blow that Wednesday’s Satoshi drop caused, Ethereum is showing technical signs it wants to retrace.
As reported by Bitcoinist previously, a leading market commentator remarked that the number of ETH that exchanges hold is “basically at all-time highs.”
The metric hit 18 million coins, according to data from Bitcoin analytics firm Glassnode.
The commentator postulated that this trend may be bearish, likely referencing a growing number of Ethereum deposits indicates an increased propensity by investors to sell the asset.
The bearish on-chain case is backed up by technical trends. As shared by a leading Bitcoin trader, Ethereum recently lost a key support level that held on four separate occasions over the past month.
The loss of this support purportedly increases the chances the asset sustains a “larger correction.”
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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:
50 BTC from Feb 2009 is moving.That’s just one month after first bitcoin block was mined. There is not a lot of people who can do this, perhaps close associates of Satoshi.
My question is why, not who, is sending 50 BTC for the first time in more than 10 years.
— Joseph Young (@iamjosephyoung) May 20, 2020
👤👤👤 40 #BTC (391,055 USD) transferred from possible #Satoshi owned wallet (dormant since 2009) to unknown walletℹ️ The coins in this transaction were mined in the first month of Bitcoin’s existence.
— Whale Alert (@whale_alert) May 20, 2020
$BTC just fell 3% because of the equivalent of a 13F filing which shows a big investor is selling (regardless of whether or not the info is accurate, that’s why it fell).
This is the definition of an isolated and idiosyncratic event that should have ONLY affected #Bitcoin
— Jeff Dorman, CFA (@jdorman81) May 20, 2020
7% Bitcoin Drop on Satoshi Fears Shows Why Ethereum Is Dangerous to Own
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BITCOIN TO SKYROCKET 100X THE PRICE OF GOLD, SAYS TOP BLOOMBERG ANALYST!! $380K MASSIVE BTC ASCENT!!
💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Mike McGlone, a senior commodity strategist for Bloomberg Intelligence, believes the Bitcoin price could shoot past the price of an ounce of gold – by around 100 times.
In the July 2021 edition of the monthly cryptocurrency newsletter ‘Bloomberg Crypto Outlook’, McGlone says that based on technical analysis, BTC could keep appreciating relative to the coveted metal.
“Bitcoin may be more than a digital version of gold. A potential path for the Bitcoin price is to stabilize around 100x an ounce of gold and for volatility to resume its downward trajectory, if past patterns repeat.”
In other trending Bitcoin News today: “Top Analyst Predicts Parabolic Bitcoin Rally, Says Bull Market Gearing Up for Final Phase”
A prominent crypto strategist and trader is predicting a parabolic rise in Bitcoin’s value that would make the rise to the recent all-time high of $64,000 a blip in the chart.
Jack Sparrow, the crypto analyst who accurately predicted BTC’s rise to $19,000 last year, tells his 203,600 followers that he’s positioning himself to capture the possibility of a massive Bitcoin ascent to $380,000.
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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:
I Stand By My $100,000 Bitcoin Price Target, Anthony Scaramucci
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