PayPal to enable cryptocurrency buying and selling

“There are multiple factors driving the price of Bitcoin higher, with the main one being the announcement from PayPal that they will allow cryptocurrency buying, selling and shopping on its network supporting a number of the major cryptocurrencies.

This is arguably the biggest news of the year for the industry and will drive the adoption of digital assets even further.

PayPal decision to open cryptocurrency gateway

With 346 million users, 26 million merchants, and being the 20th largest “bank” by deposits, this move by PayPal will open a new gateway for people to use cryptocurrencies in their everyday transactions.

It will no doubt spark renewed interest from both consumers and banks alike, just as the news that Facebook was launching its own cryptocurrency called Libra did back in mid-2019.

“It’s not just the consumer-facing behemoths such as PayPal and Facebook that are looking to bring crypto to the mainstream, but more financial institutions are buying Bitcoin and other digital assets as a move to diversify their portfolios.

“2020 is fast becoming the year of crypto acceptance and we see 2021 as the year of mainstream adoption. All of this is bullish for the price of Bitcoin and it’s safe to assume that BTC will remain a strong bullish trend.

We believe a year-end price beyond $14,000 is easily achievable as the market hasn’t fully absorbed all the positive news.”

About Wave Financial LLC

Wave Financial LLC (Wave) is a Los Angeles and London based investment management company that provides institutional digital asset fund products.

Led by a team of highly experienced financial services professionals, Wave provides investable funds via their diverse investment strategies applied to digital assets and tokenized real assets.

Wave also offers managed accounts for HNWIs and family offices seeking tailored digital asset exposure, treasury management services, and early-stage venture capital and strategic consultation to the digital asset ecosystem.

About PayPal

PayPal is an electronic commerce company that facilitates payments between parties through online transfers. PayPal allows customers to establish an account on its platform, which is connected to a user’s credit card or checking account.

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