“Similar fact pattern to when David Marcus left Coinbase board due to conflict of interest. Facebook was about to launch a crypto that might compete with Coinbase. Wences still has Xapo so could be deemed to compete with PayPal once PayPal launches #Bitcoin product.”
‘Reading the Tea Leaves’Galaxy Digital CEO Mike Novogratz also chimed in. He supports the theory and suggested that not only is PayPal’s move into bitcoin coming but “it will be the biggest news for BTC in 2020” in what has already been a heavy news cycle for the top cryptocurrency.
PayPal & BitcoinPayPal isn’t a complete stranger to bitcoin. They already have partnerships in place with cryptocurrency exchanges such as Coinbase, in which users can make instant withdrawals. But Square has been light years ahead as bitcoin sales fueled sales in its Cash App quarter-after-quarter. Investors have celebrated Square’s stock as it moved to add more than 4,700 bitcoins to its balance sheet. Now with the bitcoin price barreling toward the $12,000 level once again, PayPal might not want to be left eating Square’s dust any longer.
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.