The top cryptocurrency on the market, Bitcoin, surpassed $ 59,000 on March 30 after PayPal confirmed that it had formally launched cryptocurrency payments. According to an exclusive report from Reuters, the payments company will release a formal announcement later that will introduce its long-awaited cryptocurrency payment feature to customers in the United States.
The company caused a stir last year when it confirmed its crypto venture. And the rollout will eventually roll out to all users and 29 million merchants.
«This is the first time that you can use cryptocurrencies without problems in the same way as a credit card or a debit card within your PayPal wallet.“Chairman and CEO Dan Schulman told Reuters.
While PayPal will not focus solely on Bitcoin, BTC’s price action reacted favorably to the reports. Surpassing the February historical high of $ 58,300 and then Bitcoin surpassing $ 59,000.
Apart from Bitcoin (BTC) the market is also growing
Hand in hand with what has been seen, that Bitcoin exceeded USD 59,000, we also have the main altcoins for the morning of this March 30. Which are also on the rise and record notable gains at the time of publication.
These include the cases of Ethereum (ETH), Binance Coin (BNB), Ripple’s XRP, Litecoin (LTC), Chainlink (LINK), Bitcoin Cash (BCH), Crypto.com (CRO), Solana (SOL), AAVE , IOTA (MIOTA) and others. With increases between 2% and 9% for the morning of March 30. This is recorded by our internal Crypto Online tool.
PayPal Will Begin Allowing US Customers To Pay In Bitcoin At Global Merchants
As we previously announced, online payments giant PayPal will begin accepting cryptocurrencies as a medium of exchange at its millions of global merchants. The company’s president and CEO revealed Tuesday ahead of a formal announcement.
The new system is expected to feature a crypto payment service where users can pay for goods and services at approved providers using their stored currencies. The system will reportedly see merchants receive matching funds directly in fiat currency. After the coins are subject to a quick transfer at the time of sale.
The payment service is expected to be available for all four cryptocurrencies supported by PayPal at launch. Which consist of Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). Customers paying with cryptocurrencies will not incur transaction fees on purchases, and only one currency can be used per purchase.
«We believe that it is a transition point where cryptocurrencies go from being predominantly an asset class that you buy. Holds or sells to now become a legitimate source of funding for real-world transactions at millions of merchantsSchulman said, regarding pitch.
Bitcoin’s Market Cap Outperforms Canada’s M1 Money Supply Once Again
Another day of gains for Bitcoin (BTC). You’ve seen the price of the largest cryptocurrency by market cap go past the $ 1.1 trillion mark, $ 1.105 trillion to be precise.
This market capitalization growth now means that the size of the Bitcoin market has exceeded Canada’s M1 money supply, which stands at $ 1,104 trillion. According to CEIC data.
At the current figure, the market capitalization of Bitcoin is also greater than the M1 money supply of the Australian dollar. Which currently stands at $ 1,079 trillion.
Outperforming Australia and Canada, Bitcoin’s market capitalization is once again large enough to make BTC appear in the top 10 rankings for limited money stocks.
M1, or limited money, refers to the total supply of physical currency in circulation. As well as traveler’s checks and other forms of demand deposits held by non-banking institutions, public companies and private sector organizations, among others.
- Michael Jordan joins a $ 305 million investment in a company behind the best shot in the NBA.
- Dapper Labs announced Tuesday a $ 305 million funding round from another group of National Basketball Association stars and a venture capital firm backing its smash hit, NBA Top Shot.
- Kevin Durant, Michael Jordan, investment firm Coatue and a broad bank of 30 athletes plus rapper 2 Chainz have joined the non-fungible token (NFT) firm, the startup said. Citing a person with knowledge of the situation, USA Today reported that the funding round puts Dapper’s current valuation at $ 2.6 billion.
- Cryptocurrency-based mutual fund management company Grayscale Investments is acquiring a massive amount of cryptocurrencies.