Featured Posts

The Problem with Fidelity’s Crypto Trading Platform

October 16, 2018

1/3
Please reload

Recent Posts

PayPal Exec Says ‘Very High Likelihood’ Bitcoin Will Become Popular Payment Method

February 21, 2018

 

PayPal’s chief financial officer, John Rainey, spoke positively of Bitcoin’s (BTC) use as a future popular option for payments during an interview with The Wall Street Journal (WSJ) published Monday, Feb. 19.

 

In a section of the interview entitled, “Тhe crypto factor,” Rainey said that PayPal was one of the first companies to accept Bitcoin on their Braintree platform back in 2015. However, Rainey adds:

 

“Given the volatility of bitcoin right now, it’s not a reliable currency for transactions because if you’re a merchant and you have a 10% profit margin, and you accept bitcoin, and the very next day bitcoin drops 15%, you are now underwater on that transaction.”

 

In response to the question if cryptocurrencies will ever be popular as a payments, Rainey tells WSJ that there is “a very high likelihood” of that happening:

 

“The technology, there is real merit to it. I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day.”

 

PayPal co-founder Max Levchin said in December of last year that while he thinks Blockchain technology is revolutionary, he hasn’t “figure[d] out” his views on Bitcoin’s future yet.

 

Coinbase, a cryptocurrency wallet and exchange platform, added former PayPal executive David Marcus to its board of directors last December.

 

 

By Molly Jane Zuckerman

 

Share on Facebook
Share on Twitter
Please reload

Recent News
Please reload

About Bitcoin Global News

Our platform consist of everything bitcoin. We provide          bitcoin global news, press release distribution, and                bitcoin information.