PayPal registered a record with Bitcoin and reached a daily volume of more than $300 million
This was revealed by the company that serves as custodian of BTC funds for PayPal, itBit, which pointed out that this figure exceeds the previous peak capitalized in January of this year, which was located at $240 million traded. Previously, the company managed maximums close to $80 million.
Among other interesting data related to this new peak, the itBit team commented that the $300 million peak was traded last week, just when the price of Bitcoin was close to USD $30,000 per unit. This seems to indicate that interested persons took advantage of the drop in prices to increase their BTC reserves, as a possible strategy and in the expectation that the digital currency will recover in the coming months.
This new information is released days after the head of the Blockchain and cryptocurrency direction for the company, José Fernández de Ponte, informed that they would soon implement the possibility that cryptocurrency users through PayPal and Venmo could receive deposits as well as sending digital currencies to external wallets to your products.
Although there are mixed reactions about PayPal’s entry into the cryptocurrency market, what no one can deny is that this movement was quite beneficial for the company, especially taking into account the large user base that it manages throughout the world.
For analysts and enthusiasts, these PayPal announcements could well serve as motivation for other industry participants, specifically pointing to Apple because of rumors about its possible entry into this market through services such as Apple Pay.