October started just as September ended, with Bitcoin pacing around the USD$10,500 region. But what a crazy 3 weeks it has been, with Bitcoin moving up towards $11,000 a week later, and just yesterday, piercing through $12,000 and straight up to $13,237 on the back of the announcement from PayPal that it will soon allow users to buy, sell and hold cryptocurrencies, as well as enable crypto payments. This will also trickle down to Venmo, PayPal’s P2P payment app. It’s also interesting to note that this announcement is not limited to Bitcoin. PayPal will also allow purchases of Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). This is a huge announcement which signals a potential onslaught of retail demand, given that PayPal currently has 340M users worldwide. It also further cements the status of Bitcoin and other leading cryptocurrencies and sends a signal that they are definitely here to stay.
PayPal pumps Bitcoin to 2020 highs after announcing crypto product
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