PayPal officially confirmed Wednesday it is entering the cryptocurrency market. The payments giant, with 346 million active accounts around the world, pledged to make cryptocurrency “a funding source for purchases at its 26 million merchants worldwide.”
Bitcoin and other cryptocurrencies rallied following the announcement, which is one of several recent signs this year of mainstream corporate adoption of the decade-old technology, following MicroStrategy’s $425 million deployment of its cash surplus into bitcoin and a similar but more modest move by Square.
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.