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 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 underwent a modest recovery this Wednesday after Square, a payment service rival to PayPal, revealed its recent investments into the cryptocurrency.
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 PayPal.me 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....
The new Bitcoin Clean Energy Investment Initiative will aim to make mining more eco-friendly. On Tuesday, payments giant Square announced a major push to go carbon neutral by 2030.As part of the initiative, Square will be dedicating $10 million to its Bitcoin Clean Energy Investment Initiative, which aims "to support companies that help drive adoption and efficiency of renewables within the bitcoin ecosystem."Square is the firm behind CashApp, which is a major force in bringing crypto to regular users. In today's announcement, Square identified Bitcoin as "a unique part of Square’s....
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. […]