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Bitcoin price skyrockets this year. All thanks to PayPal
It became known that the bitcoin rate today updated the annual maximum and this happened after the PayPal payment system announced the addition of functions for performing transactions for the purchase and sale of cryptocurrencies. Against this background, the bitcoin rate jumped by 8% to $ 12,817, which is a record achievement since July 2021. Earlier this year, the bitcoin rate reached $ 12,473.
The source notes that the value of the first cryptocurrency just this week has grown by more than 11%. On Tuesday, the price of one bitcoin surpassed the $ 12,000 mark, and the news from PayPal about the start of work with cryptocurrencies became an impetus for further growth. According to reports, PayPal will allow its users to buy, store and sell cryptocurrency. And not only Bitcoin, but also Ethereum, Bitcoin Cash and Litecoin. In addition, in the future, it will be possible to pay for purchases using cryptocurrency in 26 million outlets using PayPal.
It is worth noting that some other companies in the financial sector have started to pay more attention to digital assets. Earlier this month, US company Squre, which develops solutions for accepting and processing digital payments, acquired 4,709 bitcoins for $ 50 million, stating that cryptocurrency could become «more common currency» in the future. In August, investment holding Fidelity launched its first Bitcoin-focused fund.
As for the first cryptocurrency, since the beginning of 2021 its value has increased by about 75%. In March, the bitcoin rate dropped to $ 3800, but since then it has been growing steadily enough.