{"id":32242,"date":"2020-11-23T20:24:09","date_gmt":"2020-11-23T18:24:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32242"},"modified":"2025-08-28T07:41:31","modified_gmt":"2025-08-28T04:41:31","slug":"paypal-ceo-using-bitcoin-as-a-payment-method-will-enhance-its-functionality","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/paypal-ceo-using-bitcoin-as-a-payment-method-will-enhance-its-functionality\/","title":{"rendered":"PayPal CEO: Using Bitcoin as a payment method will enhance its functionality"},"content":{"rendered":"<p>PayPal chief Dan Schulman believes that ultimately Bitcoin will be used more for everyday payments than as a store of value. He said this in an interview with CNBC Squawk Box.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\u00abWhen you start to move crypto as a potential funding instrument I think that bolsters its utility and stabilizes it as well\u2014because it can be used everyday in your purchases,\u00bb says <a href=\"https:\/\/twitter.com\/PayPal?ref_src=twsrc%5Etfw\">@PayPal<\/a> CEO Dan Schulman on <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/btc?src=hash&#038;ref_src=twsrc%5Etfw\">#btc<\/a>. <a href=\"https:\/\/t.co\/Naa5UBhvdS\">pic.twitter.com\/Naa5UBhvdS<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1330872074651512834?ref_src=twsrc%5Etfw\">November 23, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As Schulman says, cash use declined sharply during the coronavirus pandemic. He says as many as 70% of consumers no longer want to deal with it.<\/p>\n<p>Earlier this month PayPal <a href=\"https:\/\/u1f987.com\/en\/news\/paypal-launches-bitcoin-buying-and-selling-for-us-users\">opened<\/a> access to bitcoin and several altcoins for its American customers and is working on integrating trading platforms, which would allow merchants to accept digital payments.<\/p>\n<blockquote>\n<p>\u00abUsing cryptocurrency as a potential payment instrument for daily purchases will increase its functionality and stabilise it,\u00bb said Dan Schulman, noting that ahead of the service launch the company had consulted with global regulators.<\/p>\n<\/blockquote>\n<p>According to him, merchants will be able to accept bitcoin as payment next year.<\/p>\n<p>Earlier, Dan Schulman <a href=\"https:\/\/u1f987.com\/en\/news\/paypal-ceo-outlines-when-bitcoin-buying-and-selling-will-be-opened-to-all-customers\">said<\/a> that in December PayPal will provide access to cryptocurrency services across the United States, and in the first half of 2021 they will become available to users in other countries.<\/p>\n<p>PayPal users <a href=\"https:\/\/u1f987.com\/en\/news\/pantera-capital-paypal-and-cash-app-driving-bitcoin-shortage\">are buying up<\/a> around 70% of all Bitcoins mined, according to Pantera Capital. Together with active purchases through Square&#8217;s Cash App, this has a significant impact on Bitcoin&#8217;s scarcity and, accordingly, pushes up its price.<\/p>\n<p>Follow ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 the full feed of news, <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>PayPal CEO Dan Schulman believes that ultimately Bitcoin will be used more for everyday payments than as a store of value. He said this in an interview with CNBC Squawk Box.<\/p>\n","protected":false},"author":1,"featured_media":32243,"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":[1198,182],"class_list":["post-32242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-payments","tag-paypal"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32242","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=32242"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32242\/revisions"}],"predecessor-version":[{"id":32244,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32242\/revisions\/32244"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/32243"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=32242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=32242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=32242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}