- Bitcoin on Paypal means mass adoption for the king and altcoins.
- Bitcoin observes between 630,000 – 988,000 active addresses.
- Paypal user base of 487 million users would mean at least triple user base.
Paypal is among the largest online digital payment services, which is now welcoming cryptocurrency transactions on the platform. The Bitcoin on Paypal saga would, in turn, increase the Bitcoin user base to as much as three folds.
On the one hand, Square is investing in Bitcoin; on the other hand, the post-COVID-19 push towards the digitization of the world has now brought Paypal to integrate cryptocurrency services.
Experts are now predicting that more institutions are likely to jump onto the cryptocurrency bandwagon. The cryptocurrency world is about to see some of the largest payment processors to take Bitcoin on Paypal kind of steps in the days to come. On the other hand, exchanges are also expecting an influx of institutional investors in the days to come.
Bitcoin on Paypal: User base expansion
Willy Woo, a known cryptocurrency analyst and expert on Twitter, explains that the digital payment processing giant has an existing 487 million accounts user base.
Bitcoin on Paypal’s user base would not only mean mass adoption for the king of cryptocurrency; it would also mean an increase of as much as at least a three-fold increase in the user base. At the same time, active Bitcoin addresses in the past three months vary between 630,000 to 980,000, is excludes the hodlers.
So far, Bitcoin has been beating major traditional assets including Gold, and S & P mostly owing to the COVID-19 pandemic and global political unrest. In the year 2021 it is likely to surpass banks as the largest financial institutions while the founder and creator Satoshi Nakamoto is still unknown to the world.