Paypal be joining the big corporations to buy lots of BTC.Great for bringing BTC and crypto to the masses even though i think its only greed in their part that they are milking this bull.....To the moon or bust
People are talking about adoption as if this is anywhere close. This is the stock market part of bitcoin. That’s it. And once the initial PayPal users see that, you’re going to see a massive drop off. Worse, those people probably won’t come back to crypto because they’ll feel that’s all it is.
Does anyone educated/familiar in the crypto field think there will be a decent sized dip from whale sell-offs once the next round of stimulus drops maybe in February-March? Going up 6,400 in a months time seems wild. Long term, I know BTC will hold its value but I’m curious if anyone else anticipates a future sell off in early 2021
On a serious note, this is quite good for the crypto market in general. More folks would be able to buy and sell and get some exposure to the industry as a whole. Hopefully this pushes for crypto adoption and its use becomes more mainstream.
This just goes against the basic premises of why crypto currency was created in the first place. To make private, secure and seamless transactions without the bureaucracy of the normal financial institution framework.
I don't care if more people like crypto or not, this is an absolutely horrible move from a fundamental viewpoint.
Edit: Google does not own PayPal, I am unsure why my brain thought that. None the less, PayPal has taken an aggressive approach to merchant categories and even banned them because of industry. Thank you Poster for correcting me.