Cryptocurrency
Paypal Bullish on Bitcoin But as a Currency
Dan Schulman, the Chief Executive Officer, PayPal, said he is positive about bitcoin’s usefulness as a currency and believed that single fact will prevail over the buy and hold ethos.
According to Schulman, there will be more use cases for cryptocurrencies over time. This, he said would boost cryptocurrency acceptability, growth and stability.
He said “I think that there’ll be more and more use cases for cryptocurrencies,” that make bitcoin more widely accepted, more stable and probably “more valuable” over time.
Schulman further explained that at this stage, central bank digital currency is now a global inevitability. As that happens, “you’ll have more and more utility happen with cryptocurrencies,” he said.
“Both may play important roles going forward,” he said.
PayPal got into cryptocurrency space as an exchange two months ago after pulling out of Facebook’s Libra Group following parliament’s rising scrutiny into Facebook businesses.