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Bitcoin Surges Above $59,000 After PayPal’s Announcement

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Tue, 03/30/2021 - 10:16
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Yuri Molchan
After PayPal has allowed its US clients to use crypto for purchasing, BTC started rallying
Bitcoin Surges Above $59,000 After PayPal’s Announcement
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Bitcoin started moving North after PayPal spread the word that its U.S.-based customers can now use BTC and other cryptocurrencies to purchase goods from its 26+ million merchants globally.

PayPal initially announced its embrace of crypto back in mid-fall of 2020, when it allowed its customers to buy Bitcoin, Ethereum, XRP and several other major digital currencies.

However, the company allows its clients to store crypto only on PayPal wallets without withdrawing it and to spend it only within its own ecosystem.

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The world's flagship cryptocurrency immediately responded to the news and started going up. At press time, BTC is changing hands at $59,200 on the Kraken exchange.

It has risen from slightly above $57,000 over the past hour.

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Image via TradingView
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.