Main navigation

PayPal Keeps Holding Bitcoin (BTC), Ethereum (ETH): Hundreds of Millions of USD

Fri, 02/10/2023 - 15:41
article image
Yuri Molchan
PayPal giant continues to hold massive amount of various cryptos on behalf of its customers
PayPal Keeps Holding Bitcoin (BTC), Ethereum (ETH): Hundreds of Millions of USD
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Global payments company PayPal, which embraced crypto two years ago, allowing its clients first to buy and store and then to move crypto to third-party wallets, keeps working with cryptocurrencies, holding more than half a billion worth of U.S. dollars in crypto.

According to Form 10-K submitted to the U.S. Securities and Exchange Commission by PayPal, as of Dec. 31, the company holds a cumulative $604 million worth of four main digital currencies, Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), in its clients' wallets.

In particular, the amount of Bitcoin held by PayPal equals $291 million and $250 million in Ethereum. The rest is Litecoin and Bitcoin Cash.

The company first announced its intention to become open to crypto back in October 2020. Later, in the spring of 2021, it enabled crypto withdrawals for its U.S. customers and also allowed them to use crypto for purchases from more than 26 million merchants that collaborate with PayPal.

Elon Musk to Take Dogecoin (DOGE) to Literal Moon in 2023, Here's What's Happening

In the fall of the same year, the company expanded its crypto service to the U.K., allowing U.K. residents to buy and sell BTC, ETH, LTC and BCH on the platform.

article image
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