Another good news for the followers and enthusiasts of Bitcoin (BTC) as it has started picking up the pace again. The recent boost in the price of Bitcoin (BTC) is proof that the digital asset is going nowhere. There are now speculations that Bitcoin (BTC) will soon be hitting and crossing the $65k barrier.
It had been more than 2 weeks since Bitcoin (BTC) had been struggling in terms of its price once it had hit the $61.7k mark. Right after that, the price of Bitcoin (BTC) plunged and it went all the way down to almost hitting the $50k figure. That is when Bitcoin (BTC) managed to bounce but did not achieve the altitude that its price had achieved.
Since then, Bitcoin’s (BTC) price had been moving back and forth between the $53k and $55.5k per BTC figure. However, the recent announcement made by PayPal seems to have worked its wonder and now Bitcoin (BTC) price started taking a flight again.
As of today, Bitcoin (BTC) was almost near hitting the $60k per BTC mark for the second time ever. This was because of the announcement that was made by PayPal on Tuesday, March 30, 2021. PayPal has formally announced that the users on the PayPal platform will now be able to use cryptocurrencies to pay for services. The firm has revealed that the users will be able to pay with cryptocurrencies using the crypto-checkout service integrated by PayPal on its platform.
The payments giant has announced that any merchant that has been approved to accept cryptocurrencies will have the crypto-checkout option added to their online portals.
This way, the users will know whether the merchant is accepting cryptocurrency payments or not. PayPal has revealed that the cryptocurrency acceptance rate among the merchants is enormous. This is the reason why the users will have access to millions of merchants when it comes to making payments.
Although the CEO/President of PayPal, Dan Schulman has officially confirmed the above, yet an official statement is yet to be released by PayPal. According to the on-chain data analyzing firm, Tradingview, once the official statement hits the media sources, there is going to be a storm of investments into Bitcoin (BTC).
This is not the first time that PayPal has upped the game for Bitcoin (BTC). Prior to this, the same kind of outcome was observed back in October when PayPal had made the first announcement around Bitcoin (BTC).
PayPal had announced that it was not going to let its users buy and sell major cryptocurrencies through its platform. Without a doubt, Bitcoin (BTC) was on top of the list, which resulted in Bitcoin (BTC) gaining huge recognition among 334 million users that PayPal currently has.
At the time of writing, the Bitcoin (BTC) price is hovering around $59,171 per BTC.