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Thursday, December 19, 2024 | 06:01 PM ISTEN Hindi

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Bitcoin rallies to reach highest level in over a year with PayPal support

Breaches $13,000, experts feel this will bolster acceptance of crypto in India

Bitcoin
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Mainstream adoption of cryptocurrencies has traditionally been hindered by their limited utility as an instrument of exchange due to volatility, cost and speed to transact

Sai Ishwar Mumbai
Bitcoin has breached the $13,000-mark for the first time since July 2019 after online payments company PayPal decided to allow the customers to buy, sell and hold this and other virtual coins using its online wallets. 

PayPal customers will also be able to use cryptocurrencies to shop at the 26 million merchants on its network starting in early 2021. The Calfornia-headquartered company plans to support Bitcoin, Ethereum, Bitcoin Cash and Litecoin at first.

The service will be available to PayPal account holders in the US in the coming weeks. The company plans to expand the features to Venmo and select international markets

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