PayPal, Square, Others Crucial In Driving Bitcoin 70% Higher in a Month

PayPal, Square, Others Crucial In Driving Bitcoin 70% Higher in a Month

According to Pantera Capital, one of the biggest funds in the crypto fund, the recent rally has been driven by the influx of retail investors buying Bitcoin. Per their projections, PayPal users alone may soon acquire more Bitcoin than there are being mined. Not only is retail interest in Bitcoin increasing, so is billionaire and celebrity interest in the cryptocurrency. Bitcoin Rally Predicated on Increase in Retail Volume: Pantera Capital Bitcoin has seen a strong […]

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Paypal Bought 70% of All Newly Mined Bitcoin Last Month as Demand Rockets

Paypal bought up to 70% of all the newly mined bitcoin since the payments giant started offering cryptocurrency services four weeks ago. Now that’s according to estimates by hedge fund manager Pantera Capital, as revealed in its latest monthly blockchain letter. Together with Square’s Cash App, the two companies are buying more than 100% of all newly issued virgin bitcoin (BTC), it says. The letter said demand for Paypal’s crypto service, which runs on Paxos fiat-to-crypto exchange, Itbit, had hit the roof. The exchange “was doing a fairly constant amount of trading....

Bitcoin’s Latest Leg Higher Brings It Above a Crucial Macro Level

After bottoming at $10,200 earlier this month, the cryptocurrency has ripped higher. Bitcoin now trades just shy of $12,000. Bitcoin will need to close above $11,828 on a weekly time frame if it is to confirm its macro bullish trend Bitcoin Crosses Pivotal Macro Level Bitcoin has pushed strongly higher over the past two weeks. After bottoming at $10,200 earlier this month, the cryptocurrency has ripped higher, as it now trades just shy of $12,000. […]

Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin

Last week, Square made mainstream headlines when it was revealed that the firm had bought Bitcoin — $50 million worth of the cryptocurrency. Square is a financial technology giant valued at around $80 billion, though the $50 million was only approximately 1% of its assets. Square wasn’t the first company to do so. The month […]

PayPal Announces Launch of PayPal. Me Peer-to-peer Payments Similar to Square Cash or Bitcoin Wallets

Receiving money from a friend, client or anyone else on PayPal just got a little bit easier. Today, the company announced the launch of PayPal. Me, a personal, vanity PayPal link that makes it easy to remind people to send you money. The idea behind the peer-to-payment service is to erase the awkwardness of getting repaid by someone. Instead of having to ask them, a user could just send his or her friend a link and the friend would be able to pay using their own PayPal account. It minimizes the need for conversation about something that could, theoretically, make someone....

Bitcoin price turns bullish on Square’s $50M BTC purchase: Is $11K next?

Bitcoin price rallied close to $11,000 after Square announced a $50 million BTC purchase. The number of Institutional investors stepping in to Bitcoin continues to increase and this appears to be inspiring some newfound confidence in Bitcoin price. Just today Square announced that it had purchased 4,709 Bitcoin (BTC) for $50 million.Square is not the only large company to take this action. Recently, MicroStrategy made waves for also announcing a significant purchase of Bitcoin.These news events could be a signal to investors that a new cycle is starting up and bigger parties are showing....