PayPal: Bitcoin to Become Most Popular Currency
February 23, 2018
PayPal financial director John Rainey has predicted bitcoin to have favorable prospects having claimed, the currency may well become the most useable payment means any time soon.
“Given the volatility of bitcoin right now, it’s not a reliable currency for transactions because if you’re a merchant and you have a 10% profit margin, and you accept bitcoin, and the very next day bitcoin drops 15%, you are now underwater on that transaction”, he noted.
Answering the question on chances of cryptocurrency share used as means of payment rising, Rainey told, they are very high:
“The technology, there is real merit to it. I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day”.
PayPal joined the ranks of the first companies to recognize bitcoin as a payment means in 2015. At that moment coins were accepted at company’s own platform Braintree.