With each passing day, cryptocurrencies are more accepted worldwide. As new organizations and companies must accept their existence, realizing the advantages they can obtain from using them as part of their business model. For this reason, Pompliano predicts in the Tweet of the day that the latest PayPal news will bring more than 300 million new users to Bitcoin.
PayPal and Bitcoin: an explosive combination
The facilitation of international monetary transactions has been at the very center of Bitcoin’s functioning since its inception. Well, the ultimate goal of BTC is to become a global currency that can be used by individuals, organizations, companies and governments across the globe. Regardless of any type of border or other restriction.
And this has also been the center of PayPal, the company founded (and later sold) by Elon Musk. Which is in charge of processing foreign currency payments among its users. Depositing money immediately, even in cases of international operations. As long as you are in one of the countries that have PayPal services.
Therefore, it makes sense that PayPal wants to enter the crypto market, as a source close to the company has commented to CoinDesk. Which stated that the company would be considering allowing the purchase and sale of cryptocurrencies such as Bitcoin, directly from the PayPal and Venmo platforms, another payment service owned by the company. What has the potential to incorporate more than 300 million users to the crypto world, as Anthony Pompliano commented:
“More than 300 million people will soon be able to buy Bitcoin with PayPal and Venmo.”
If this update finally takes place on the Venmo and PayPal platforms, it would be a huge step for the crypto world. This by allowing people who, although they have an interest in Bitcoin and other cryptocurrencies, had not had the possibility of acquiring it easily and quickly. Now they can do it from a recognized and reliable platform like PayPal.