This was such wonderful news in the Bitcoin world that the price of Bitcoin jumped over 10%.
I’m not saying Bitcoin will appreciate or depreciate. That’s for markets to decide.
When someone else deems something is of value, then it has value, when people don’t value it, then there’s no value.
Now, let’s think about this…
What’s the big deal with Paypal allowing Bitcoin payments?
Ok… supposedly it allows Bitcoin to have more uses… more take up rate, etc…
But in the end, Bitcoin, is just like any other commodity.
It hardly behaves like a currency.
How about, one day, Paypal allows Gold ETFs to be used as a payment form?
What so hard about that?
The transactions would be the same, as when you pay for any item in USD.
You’ll convert SGD to USD, then pay in USD.
Similarly, you can own Bitcoin, then pay with Bitcoin, Paypal will just convert Bitcoin to USD, take a cut of the commission