PayPal CEO Schulman Says He's Bullish on Bitcoin as a Currency

PayPal (PYPL) CEO Dan Schulman said bitcoin's usefulness as a currency will ultimately prevail over the buy-and-hold ethos, in an interview with CNBC Squawk Box on Monday.

"I think that there'll be more and more use cases for cryptocurrencies," that make bitcoin more widely accepted, more stable and probably "more valuable" over time.
PayPal will begin allowing users to transact with crypto as a funding instrument across 28 million businesses early next year.
Schulman said central bank digital currency is a global inevitability. As that happens, "you'll have more and more utility happen with cryptocurrencies," he said.
"Both may play important roles going forward," he said.
PayPal's cryptocurrency purchasing services is scooping up an overwhelming number of newly minted bitcoins, according to Pantera.
Bitcoin was trading hands around $18,480 at the time of his interview.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Danny Nelson

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.