{"id":32156,"date":"2020-11-21T19:54:12","date_gmt":"2020-11-21T17:54:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32156"},"modified":"2025-08-28T07:16:29","modified_gmt":"2025-08-28T04:16:29","slug":"pantera-capital-paypal-and-cash-app-driving-bitcoin-shortage","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/pantera-capital-paypal-and-cash-app-driving-bitcoin-shortage\/","title":{"rendered":"Pantera Capital: PayPal and Cash App Driving Bitcoin Shortage"},"content":{"rendered":"<p>The launch of bitcoin support by PayPal, in combination with active purchases through Square&#8217;s Cash App, is having a material impact on the shortage of the leading cryptocurrency and, consequently, on the asset&#8217;s price. This is stated in the latest letter from the investment firm <a href=\\\"https:\/\/panteracapital.medium.com\/bitcoin-shortage-172a9205dc0\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">Pantera Capital<\/a>.<\/p>\n<p>According to the company, Cash App accounts for 40% of all bitcoins issued. PayPal only <a href=\"https:\/\/u1f987.com\/en\/news\/paypal-launches-bitcoin-buying-and-selling-for-us-users\">launched<\/a> a service for direct cryptocurrency purchases, and this is already having a huge impact on the market, the report says.<\/p>\n<p>Analysts estimate that PayPal users buy around 70% of all bitcoins issued. This is reflected in the volume growth on the regulated exchange itBit, which is backed by PayPal partner Paxos.<\/p>\n<div id=\\\"attachment_117289\\\" style=\\\"width: 849px\\\" class=\\\"wp-caption alignnone\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-117289\\\" class=\\\"size-full wp-image-117289\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1_9aGrWJmvfk9RTRki6mGWvA.png\\\" alt=\\\"Pantera Capital: Bitcoin shortage driven by PayPal and Cash App\\\" width=\\\"839\\\" height=\\\"471\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1_9aGrWJmvfk9RTRki6mGWvA.png 839w, https:\/\/u1f987.com\/wp-content\/uploads\/1_9aGrWJmvfk9RTRki6mGWvA-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1_9aGrWJmvfk9RTRki6mGWvA-768x431.png 768w\\\" sizes=\\\"auto, (max-width: 839px) 100vw, 839px\\\" \/><\/p>\n<p id=\\\"caption-attachment-117289\\\" class=\\\"wp-caption-text\\\">Source: Pantera Capital.<\/p>\n<\/div>\n<p>The dotted line on the chart represents the total supply of newly minted bitcoins plus the initial itBit volume. In Pantera Capital&#8217;s view, if this growth persists, PayPal alone will begin to buy more bitcoins than are being issued within a matter of weeks.<\/p>\n<blockquote class=\\\"wp-embedded-content\\\" data-secret=\\\"RhbJwLuSwS\\\">\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/chainalysis-bitcoin-doubles-after-the-halving-driven-by-institutions\">Chainalysis: Bitcoin rose twofold after the halving thanks to institutions<\/a><\/p>\n<\/blockquote>\n<p><iframe loading=\\\"lazy\\\" class=\\\"wp-embedded-content\\\" sandbox=\\\"allow-scripts\\\" security=\\\"restricted\\\" style=\\\"position: absolute; visibility: hidden;\\\" title=\\\"\u201cChainalysis: Bitcoin rose twofold after the halving thanks to institutions\u201d \u2014 ForkLog\\\" src=\\\"https:\/\/u1f987.com\/news\/chainalysis-bitkoin-vyros-vdvoe-posle-halvinga-blagodarya-institutsionalam\/embed#?secret=aaKmj3rkFO#?secret=RhbJwLuSwS\\\" data-secret=\\\"RhbJwLuSwS\\\" width=\\\"500\\\" height=\\\"282\\\" frameborder=\\\"0\\\" marginwidth=\\\"0\\\" marginheight=\\\"0\\\" scrolling=\\\"no\\\"><\/iframe><\/p>\n<p>Researchers argue that PayPal and Cash App customers are already removing from circulation all bitcoins mined daily by miners.<\/p>\n<blockquote>\n<p>\u201cWhere will Cash App customers get their coins? Here we recall the constraints and rigidity of supply. They will buy them at higher prices,\u201d the analysts concluded.<\/p>\n<\/blockquote>\n<p>In May, Square developers added to Cash App a feature for automatic bitcoin purchases at regular intervals.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forkloglive\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog FEED<\/a> \u2014 the full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The launch of bitcoin support by PayPal, in combination with active purchases through Square&#8217;s Cash App, is having a material impact on the shortage of the leading cryptocurrency and, consequently, on the asset&#8217;s price. This is stated in the latest letter from the investment firm Pantera Capital.<\/p>\n","protected":false},"author":1,"featured_media":32157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1533,1138,1296,182],"class_list":["post-32156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cash-app","tag-opinions","tag-pantera-capital","tag-paypal"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=32156"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32156\/revisions"}],"predecessor-version":[{"id":32158,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32156\/revisions\/32158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/32157"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=32156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=32156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=32156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}