Bitcoin Hits Fresh 2020 High, Approaches $13K
Bitcoin's price clocked fresh 2020 highs on Wednesday after online payments company Paypal announced support for cryptocurrencies.
Bitcoin (BTC) has risen above $13,000 in less than 24 hours after it broke the $12,000 level on the news PayPal will support cryptocurrencies on its platform.
Fintech giant PayPal confirmed its move into crypto Wednesday. Is its no-withdrawals bitcoin service too restrictive or mainstream-friendly?
The latest rally leaves bitcoin up 80% year to date, an enviable performance that's bound to inspire the fear of missing out among some investors.
The ninth-largest cryptocurrency by market value initially jumped more than 10%.
PayPal will offer its U.S. customers buying and selling of crypto, with support for payments to its merchant network next year.
PayPal officially confirmed Wednesday it is entering the cryptocurrency market. The payments giant, with 346 million active accounts around the world, pledged to make crypto “a funding source for purchases at its 26 million merchants worldwide.”