PayPal Holdings Inc said on Wednesday it will accept bitcoin and other virtual coins in its online wallet,
“The service will be available to PayPal accountholders in the U.S. in the coming weeks. The company plans to expand the features to Venmo and select international markets in the first half of 2021,” PayPal Holdings Inc, said in a press release.
PayPal’s decision will offer customers an option to shop using cryptocurrencies at the 26 million merchants listed on its network.
“To increase consumer understanding and adoption of cryptocurrency, the company is introducing the ability to buy, hold and sell select cryptocurrencies, initially featuring Bitcoin, Ethereum, Bitcoin Cash and Litecoin, directly within the PayPal digital wallet,” PayPal said in a press release.
Bitcoin prices rose 8 percent after this announcement. Bitcoin prices reached to $12,817.17, highest since July 2019.
