Several agents assure that the movement of PayPal responds to the recent decisions of agents like Square
The company founded by Jack Dorsey started accepting Bitcoin transactions for a while
However, Elon Musk’s organization has been a huge criticism of cryptocurrencies almost from the start.
Cryptocurrencies, as a concept, are a promising element. They not only allow removing many of the barriers that exist in the financial market, allowing anyone in the world to connect with another. Its technological infrastructure, with an adequate structure, would be capable of increasing the security and automation of certain transactions. While there are plenty of digital currencies on the market, perhaps the most relevant (and valuable) is the classic Bitcoin.
In recent years, the value of this cryptocurrency has had notable volatility, largely because there are still many doubts about its acceptance in the conventional market. However, according to Coin Telegraph, the price for Bitcoin would be about to break the $ 12,000 barrier. Since late May, in Coindesk estimates, it’s hovered around $ 9,600 without really straying far from value. So what happened now?
It turns out that rumors have begun to circulate that PayPal and Venmo, two of the largest digital payment intermediaries in the world, are considering integrating Bitcoin into their offering. None of the brands has officially confirmed this information. However, if the information becomes true, it would reflect a vote of confidence towards the stability and usefulness of this currency. In this sense, several experts believe that it could be worth more than $ 12,000.
Good idea to invest in Bitcoin?
It is not the first time that sudden rumors or announcements trigger (or collapse) the value of a good or company. For example, just like Bitcoin, the value of Microsoft’s business grew as a result of some conspiracy theories and activations around the COVID-19 pandemic. At the same time, it is not uncommon for the erratic behavior of its founder to impact Tesla. And recently, Gildead came out on top with a deal on Remdesivir in the United States.
But we must return attention to the situation of Bitcoin. For many years the cryptocurrency has been seen as an investment opportunity by some members of the market. In large part, due to the exceptional growth it presented a few years ago, literally multiplying the wealth of multiple individuals. Even today, there are those who consider the digital currency as a great opportunity to grow their wealth. With these rumors, the possibility arises again.
Is it a good idea to invest in Bitcoin now that an increase of around 33 percent is expected in the short term? Probably not. Although it can serve as an instrument to grow wealth, it must be remembered that this cryptocurrency was born as a digital transaction tool. In this sense, it is volatile and risky to try to play with its price to generate an income. For those who want to launch, they must know that they are betting on rumors.
A new panorama of cryptocurrencies
On the other hand, it is interesting the rumors that Bitcoin could be accepted in PayPal. This is great news, considering that digital currencies have not always been well received. For example, Facebook’s Libra project failed, but it was largely the fault of the social network’s reputation. They have also become a common currency for various computer criminals. And to that must be added, of course, its instability as an investment object.
But the truth is that, with greater acceptance and stricter schemes, both Bitcoin and the rest of the cryptocurrency environment could be very beneficial. According to The Global Treasurer, it greatly reduces the incidence of fraud. Finjan reaffirms that it can lead to much more discreet and private transactions, which helps against identity theft. And Fox Business points out that it could also be very useful in promoting financial inclusion.
SUBSCRIBE TO PREMIUM CONTENT FOR ONLY $ 299