PayPal Holdings Inc, stocks rallies as it adopts cryptocurrencies

PayPal Holdings Inc performance today marked an all-time high following the Fintech company's  announcement that customers will now be able to do buying and selling of Bitcoin and other virtual currencies using their PayPal accounts:

''Virtual coins could then be used to buy things from the 26 million sellers which accept PayPal'', it said.

PayPal plans to roll out buying options in the US over the next few weeks, with the full rollout due early next year.

The other cryptocurrencies to be added first will be Ethereum, Litecoin, and Bitcoin Cash (a spin-off from Bitcoin).

All could be stored "directly within the PayPal digital wallet", the company said.
 

The company said this will take effect globally in 2021.

As a result of this news, Bitcoin prices rose, breaking the $12,000 mark.

Source: TradingView