The launch of PayPal, a cryptocurrency service that allows customers to buy, sell and store digital currency directly from their accounts, has catalyzed the Bitcoin shortage, analysts at investment firm Pantera Capital say. The demand for the first cryptocurrency is also tracked in Square’s Cash App, which records the purchase of 40% of all issued bitcoins.
Thus, Pantera Capital experts note that the crypto solution from PayPal has already had a significant impact on the market. It is noted that after the launch of the service, the clients of the payment giant began to buy about 70% of all issued bitcoins. Previously, the difficulties in acquiring digital assets were quite onerous: it was necessary to take a selfie with an identity document, wait from a few days to a week to activate the daily restrictions. According to Pantera Capital, if the upward trend continues in the near future, then PayPal alone will start buying more bitcoins than miners mined.
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