Bitcoin jumps past $59K as PayPal launches crypto payments at 29M merchants

Bitcoin (BTC) neared $60,000 on March 30 after PayPal confirmed that it had formally launched  cryptocurrency payments.

BTC/USD 1-minute candle chart (Bitstamp). Source: Tradingview

PayPal: Crypto is now “legitimate funding source”

Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD hitting a ten-day high on Tuesday as details appeared in the mainstream press.

According an exclusive report from Reuters, PayPal is set to release a formal announcement later on the day in which it will unveil its long-awaited cryptocurrency payment feature for U.S. customers.

The company caused a stir last year when it confirmed its venture into crypto, with the rollout ultimately set to extend to all users and 29 million merchants.

“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters.

While PayPal will not focus solely on Bitcoin, BTC price action reacted favorably to the reports, passing February’s prior all-timeTitle: Bitcoin jumps past $59K as PayPal launches crypto payments at 29M merchants
Sourced From: cointelegraph.com/news/bitcoin-jumps-past-59k-as-paypal-launches-crypto-payments-at-29m-merchants
Published Date: Tue, 30 Mar 2021 11:05:41 +0100