PayPal Follows Own Customers in Move to Crypto; U.S Coinbase Support Launched

PayPal Follows Own Customers in Move to Crypto; U.S Coinbase Support Launched

The CEO of crypto merchant platform BitPay Stephen Pair stated that speculation on future adoption drives Bitcoin’s (BTC) price more than “actual utility,” in an interview on CNBC Dec. 13. When asked about a Bitcoin ETF’s potential to stimulate a price rally, Pair argued that “not just ETF adoption or ETF launches” could be catalysts for price movement, but that “adoption will push the prices higher,” adding optimistically: A Bloomberg analysis of the study claims that the increase in crypto’s user base, despite prices declining, “could signal that an eventual recovery could be coming.”

Context: “I used to say 10 years, but now I think it’s more like 3-5 years until you can go into a restaurant, a retail establishment, and just everybody’s going to expect that that store will be able to accept a blockchain payment.”

Craig Smith