PayPal shares (PYPL) open this Tuesday with a 0.71% gain to US$ 171.47, the highest value in its history. While its value has been rising steadily over the past month, the recent upward momentum may be due to the potential entry of the online payment giant into the world of cryptosystems.
Yesterday, it was reported that PayPal is hiring crypto and Immediate Bitcoin experts, amid rumors that the global payment platform will allow direct purchases of crypto currencies for its 305 million users. If this news is confirmed, it would be a great boost for the ecosystem.
Can you imagine that from PayPal you can buy Bitcoin directly? It would be the gateway to the crypto world for millions and millions of new people.
PayPal could soon accept Bitcoin on its platform
PayPal’s actions are triggered
In yesterday’s session, PayPal shares (PYPL) rose just over 4%, reaching an all-time high of US$ 170.
If we look at the graph of the last month, we can see how PayPal is in a strong upward trend. So far in June, it is up more than 10%.
Now, if we look at PayPal’s price so far in 2020, its profit is 55%, an impressive performance, considering the current context the world is going through.