Building on its relatively new service letting Paypal’s 375 million customers buy, hold and sell cryptocurrency directly from their accounts, Dan Schulman, Paypal CEO, said on Tuesday that the company’s recently launched “Checkout With Crypto” service, which encourages purchases with bitcoin, ether, and other cryptocurrencies, will easily reach $200 million transaction volume within months.
But despite the galloping interest in bitcoin and other cryptocurrencies from both institutional and retail investors, Schulman said Paypal, is one large company that is unlikely to put bitcoin on its balance sheet this year, citing volatility concerns from investors.
On the flipside, Saylor noted on a separate panel that “everybody talks about the volatility of bitcoin, but volatility measures the rate at which it’s going up in price.” “It’s the same as buying the volatility of Tom Brady.
Since August 11, 2020, when MicroStrategy revealed its first bitcoin purchase worth $250 million, the software company has bought $2.2 billion in bitcoin, more than any other publicly traded company in the world.
Visa’s head of crypto Cuy Sheffield said the credit card giant ultimately wants to support new types of cryptocurrencies and protocols and find ways to integrate them into Visa’s core network.
I report on cryptocurrencies and emerging use cases of blockchain.