PayPal is one of the world’s largest digital payment companies, with over 300 million active users and a market capitalization of over $300 billion. It has been rumored for years that PayPal would start selling Bitcoin and other cryptocurrencies, but as of yet, it has not taken the plunge. However, this may be about to change.
In October 2020, PayPal announced that it would allow its users to buy, hold, and sell cryptocurrencies through its platform. This was a significant move for the company, which had previously been cautious about entering the cryptocurrency market. PayPal’s move was seen as a major endorsement of Bitcoin and other cryptocurrencies, and it was widely expected that PayPal would start selling Bitcoin and other cryptocurrencies directly to its customers.
However, as of now, PayPal has not yet started selling Bitcoin or other cryptocurrencies. So, when will PayPal start selling Bitcoin?
The answer is not straightforward. PayPal has not given any indication of when it will start selling Bitcoin or other cryptocurrencies. However, there are several factors that suggest that it may be sooner rather than later.
Firstly, PayPal’s move into the cryptocurrency market was a significant one. It was a clear indication that the company sees the potential of cryptocurrencies and wants to be a part of the market. This suggests that PayPal is likely to continue to explore the cryptocurrency market, and it may well start selling Bitcoin and other cryptocurrencies in the near future.
Secondly, there is a growing demand for Bitcoin and other cryptocurrencies. Many people see cryptocurrencies as a potential hedge against inflation and a way to diversify their investment portfolios. This demand is likely to continue to grow, and PayPal may well want to capitalize on it by selling Bitcoin and other cryptocurrencies to its customers.
Thirdly, PayPal has a large and loyal customer base. Its customers trust PayPal to provide secure and reliable payment services, and they are likely to be interested in buying Bitcoin and other cryptocurrencies through PayPal. PayPal has a unique opportunity to leverage its existing customer base to become a major player in the cryptocurrency market.
Finally, there are indications that PayPal is already working on a cryptocurrency offering. In March 2021, PayPal’s CEO, Dan Schulman, revealed that the company was working on a “super app” that would include a range of financial services, including the ability to buy, hold, and sell cryptocurrencies. This suggests that PayPal is actively exploring the cryptocurrency market and may well start selling Bitcoin and other cryptocurrencies in the near future.
In conclusion, it is difficult to say exactly when PayPal will start selling Bitcoin and other cryptocurrencies. However, there are several factors that suggest that it may be sooner rather than later. PayPal’s move into the cryptocurrency market, growing demand for cryptocurrencies, its large and loyal customer base, and indications that it is already working on a cryptocurrency offering all suggest that PayPal is likely to start selling Bitcoin and other cryptocurrencies in the near future. When it does, it will be a significant moment for both PayPal and the cryptocurrency market as a whole.